Many Homeowners Heating Their Homes This Winter Benefiting From Falling Price Of Oil
By Syma Chowdhry
PHILADELPHIA (CBS) -- "I'm shocked it's so cheap! I'm shocked."
Maywood Brown warms his home using oil.
So far the season has been good to him with mild temperatures, but more importantly the low price of hearing oil.
In fact, oil prices have hit a six-year low.
"You get more oil now. It lasts longer."
Brown pays $2.59 a gallon, that's about a dollar less a gallon compared to last year.
"Last year you had to struggle to keep the house warm. I have five kids in the house. It was a struggle."
While he enjoys forking over less money, companies like Oil Patch enjoy getting more business.
Oil Patch driver Paul Fred says, "Instead of getting 50 gallons or 100 gallons, they are filling their tanks, before they could only get a bit of oil."
A standard home tank can hold about 275 gallons of oil. Now customers can get more for less.
"People are happy. They come out to us, 'Thanks. We really appreciate what you guys are doing. The price has been so low. We are now able to afford to fill our tank.'"
Oil Patch works with the state's Low-Income Home Energy Assistance Program.
With lower oil prices, those who need help can heat their homes with confidence.
Fred says, "They are able to have their whole tanks filled. They never ever had that much oil ever. They used to get 120 gallons, now they are getting 250 gallons."
"We are only at the house maybe once, instead of being there two or three times when the people are struggling."
Fred says he feels bad for customers who locked in last year's prices and now can't get out of those contracts.
"They paid a lot higher. They paid over, maybe $1.25 a gallon more."
Overall, oil companies and customers can't seem to complain this season.
"It's been a good winter so far. And people can afford it because you can see people struggle."
And some more good news? Oil Patch expects the price of oil to continue to fall in the next few weeks.
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