If you own a car, odds are you’ve probably heard at one point or another that you should change your oil every 3,000 miles. Right? Wrong. That may have been the case thirty years ago, but times are changing, and so is your vehicle. So, are you changing your oil too soon? Keep reading to find out.

When Should I Change My Oil?

As mentioned, it was once believed that you should change your oil every 3,000 miles. However, newer vehicles have proven to go longer distances without an oil change. The trick is synthetic oil. This high-quality substance can keep these high-tech vehicles going for longer. So, what happens when you do eventually need to change your oil? Many cars have oil-life monitoring systems, which will alert you when it’s time to change your oil. If you want to be even more precise, check your owner’s manual for the vehicle. It will tell you how many miles you can go between oil changes. Depending on the car and driving conditions, you can go as far as 5,000 to 15,000 miles before making a pit stop. Regardless, we recommend that you get an oil change at least once a year to help protect your engine. There’s nothing worse than old oil! If you don’t change your oil enough, the entire engine will shut down, and you’ll have to replace it.

What Driving Conditions Affect My Oil Change Date? 

Typically, your owner’s manual will give you an interval based on “normal driving conditions,” but what are normal driving conditions? According to the Filters Manufacturers Council (FMC), normal driving conditions refer to ideal driving environments. These include highway driving rather than short, around-the-town- driving. It’s essential to point out that only about 20% of vehicles are regularly driven under “normal conditions.”

So, we know what’s considered normal. So, what does the FMC consider to be severe?

• Extreme temperatures (below 10˚F and above 90˚F)
• Extreme humidity
• Driving in dusty conditions (dirt or gravel roads)
• Regularly driving on steep hills or mountains
• Towing a trailer
• Hauling heavy materials
• Primarily short trips (five miles or less)
• Extensive idling
• Stop-and-go traffic

According to the FMC, if you drive in one or more of these conditions at least once a week, you may need to change your oil more often.

Why Should I Wait Longer to Change My Oil?

There may be several reasons you would want to wait to change your oil. However, there are two that might make you think twice about abandoning the 3,000 miles rule. The first and most obvious reason is that it saves you money. As mentioned, many modern vehicles take synthetic oil, which is more expensive. Suddenly, an oil change that once cost $40 is now $79. Say, over two years, you drove 30,000 miles. Suppose you changed your oil every 3,000 miles. That comes to $790 just in oil changes. Upping the mileage to 10,000 miles would reduce your cost to $237.

The second reason you should avoid changing your oil too much is that it’s not good for the environment. According to EPA, oil from a single oil change can contaminate one million gallons of drinking water if not properly disposed of. Going longer in between oil changes will not only ensure that you’re not wasting good oil but that you’re not causing unnecessary harm.

A little tip: if you want to make sure you’re changing your oil at the right time, manually check your oil each month. This way, you avoid computer error with the oil-life monitoring system, and it will give you a better sense of when to change your oil compared to the owner’s manual, which is dependent on normal driving conditions.

Find Your Oil Through Home Service Oil

Are you looking for a reliable bulk fuel and oil supply company? You’ve found the right place with Home Service Oil. We offer a variety of services. One of which is the bulk supply of many different types of oils. Need synthetic oil for your store? We’ve got it! Visit our website today to request a service. You’ll be glad you did.

The post Are You Changing Your Oil Too Soon? appeared first on Home Service Oil Company.

#1. ENSURE THERE’S ENOUGH TREAD

Most states require a minimum tread depth of at least 2/32 of an inch. The idea of the penny test is to check whether you’ve hit the threshold. Here’s how it works:

Hold a penny with Lincoln’s head upside down and facing you.

Insert the penny into one of the grooves between the threads.

If his head disappears, the thread is still above 2/32”. If you can see his entire head, it’s time to replace your tire.

#2. SWITCH TO WINTER TIRES

While it’s possible to use all-season tires in winter, it’s recommended to install winter tires if you live in a place with extremely cold temperatures. All-season tires can succumb to low temperatures, causing the tire to harden and lose its ability to grip the road. Winter tires, made with resilient rubber compounds, are designed to stay flexible even in freezing temperatures.

#3. MAINTAIN TIRE PRESSURE

Every 10-degree drop in outdoor temperature could mean a loss of 1 pound per square inch (PSI), so regularly check the air pressure in each tire. A severely deflated tire could lead to an accident on a slippery road or a tire blowout. The recommended tire pressure is listed in the owner’s manual and on the vehicle’s doorjamb sticker.

#4. TEST THE BATTERY

Make sure to get your car battery checked. Within the battery, chemical reactions occur, which happen slower when the temperatures dip. So, the cold weather can make a dying battery fail even sooner.

#5. CHANGE THE OIL

Motor oil lubricates an engine’s moving parts and keeps them from overheating and rusting over time. During cold weather, the oil becomes thicker. This makes it harder to pump through the engine block and puts additional strain on the battery. It makes sense to use thinner oil this time of year.

Refer to your owner’s manual for:

• exact instructions on how to do an oil change.
• info on how much to pour in with each change.
• the type of oil that’s right for your vehicle.

#6. ADD PROPER COOLANT

Coolant is a fluid that runs through the engine to keep it within its correct operating temperature range. As the coolant circulates, it absorbs heat from the engine and is cooled as it passes through the radiator. Insufficient coolant may cause serious engine damage. Check the owner’s manual to know when it’s time to remove the old coolant and what type of coolant to use.

#7. MONITOR BRAKES

Think of the snow, ice, water, and slush you’ll have to drive over on the highway. Yet, no matter the time of year, car brakes should be in top condition. Have your vehicle serviced if you notice:

• deep metallic grinding and growling.
• squealing or screeching noises.
• the indicator light comes on.

#8. KEEP THE GAS TANK FULL

Keep that gas tank topped off or at least half full. This is more important in winter than in summer for the following reasons. A full tank reduces condensation, which can form in empty areas of the tank and lead to a frozen fuel line. Plus, if you’re ever stranded, the engine will keep you warm until help arrives.

BE PREPARED WITH HOME SERVICE OIL

Get ready for winter with Home Service Oil, your trusted supplier of oil, diesel fuels, and gasoline. Our professionally trained personnel make deliveries to commercial accounts, construction sites, homes, and farms. Place an order by calling 1-800-467-5044 or requesting a service today!

The post How to Winterize Your Vehicle appeared first on Home Service Oil Company.

Chris O’Shea is the CEO of Centrica, which owns British Gas. He said, “The market suggests the high gas prices will be here for the next 18 months to two years.” This was before Russia invaded Ukraine.

Yet, the end date is unclear. Adam Tooze is a Fortune Policy columnist and co-host of Foreign Policy’s weekly economics podcast Ones and Tooze. He said, “The short answer is we don’t know. There’s really no reason to think that the situation is not going to get progressively more difficult.”

WHAT IS CURRENTLY HAPPENING IN EUROPE

In one year, Russian imports have fallen from 41% to 9% of Europe’s total gas imports. Gas prices in Europe are now around 10 times higher than they were on average over the last decade and about 10 times more expensive than prices in the US.

Europe filled up its natural gas storage tanks and is conserving energy this winter. Still, it’s not obvious where the replenishment will come from for the following year.

European governments are encouraging the public to reduce their gas usage. If everyone in Europe turned their thermostats down from 22°C to 19°C, which is 71.6°F to 66.2°F, this would hugely cut back on the continent’s import dependence.

WHAT IS CURRENTLY HAPPENING IN THE US

This isn’t to say the US is immune. Russia and Saudi Arabia, acting as leaders of the OPEC+ energy cartel, agreed they would cut production by 2 million barrels a day.

There is an interesting contrast between the US and Europe. The US is largely self-sufficient as it produces a huge volume of fracked gas and is an energy exporter, whereas Europe is a major energy importer. When it comes to oil, the US is still reliant on imports from Russia and Saudi Arabia.

HOME SERVICE OIL HAS YOUR BACK

Home Service Oil remains a dependable source for all your petroleum needs. Whether you need distribution, a tank rental, or a call-in delivery for heating oil, diesel fuel, or gasoline, we have your back. Let us know how we can serve you by requesting a service or calling 1-800-467-5044 today!

The post How Long Will the Energy Crisis Last? appeared first on Home Service Oil Company.

While some areas of the world continue to import energy commodities from Russia, others have placed heavy sanctions on the country to deter the Russian government from advancing its plans to take over Ukraine.

This war on Ukraine and the sanctions put in place because of it have impacted the world in ways that are still unfolding day by day.

As the EU (including the United Kingdom), once a key power in the geopolitical sphere, struggles to keep energy costs affordable and resources accessible, the rest of the world is feeling the impact.

Let’s dive deeper into how the world has responded to these tumultuous times and how that is impacting people all over the globe.

EXPLAINING THE EUROPEAN ENERGY CRISIS

How has Europe ended up in its current situation?

In “normal” times, Europe’s energy costs about 2% of the GDP. However, it has now reached about 12% of the GDP! This is almost entirely due to Russia’s invasion of Ukraine but was also exacerbated by summer heatwaves and droughts.

Until 2021, the EU imported 40% of its natural gas and a sizable amount of oil and coal from Russia. With sanctions now in place and more that will be effective later this year and early 2023, the EU is struggling to maintain enough resources for its citizens and is falling victim to high energy costs due to inflation.

These high energy costs mean that those living in the EU have to consider if they’ll be able to heat their homes this winter and if their economy will survive. With more and more European industries scaling back operations or just shutting down completely, Europe will likely experience a deep recession in the next couple of years.

HOW DOES THIS IMPACT THE GEOPOLITICAL SPHERE?

Since 2008, it can be said that the geopolitical atmosphere has been influenced by four main powers: The United States, European Union, Russia, and China. However, economic shifts over the years, compounded by Russia’s war on Ukraine, are changing each of these powers’ influence.

In 2009, the EU’s share of global GDP was higher than those of the U.S. and China. However, as the U.S. and especially Chinese economies bounced back relatively successfully from the 2008 recession, Europe’s economy has been slow to uptake, making its share of global GDP the lowest out of the three.

That being said, Russia’s spot as a world power may be in even more jeopardy than the EU’s.

While it’s true that Russia is still taking in significant revenues from exporting oil and gas to Asia, its economy is still likely to decline even after the conflict with Ukraine ends. This is because the rest of Russia’s economy is struggling, and the western sanctions will only cripple its energy sector more.

Russia could continue selling to Asia, but most of Russia’s pipelines and energy infrastructure are built for European exports. Pivoting those operations east would be difficult and extremely costly. This would mean that any investment in new infrastructure Russia would need to export more oil and gas to China would be dictated by Beijing’s financial terms, effectively pushing Russia into a more junior role.

This will leave the United States and China as the world’s leading superpowers, but with Europe sidelined from world affairs, U.S. interests will be put at risk.

CONSEQUENCES OF EUROPE STOCKPILING FUEL

While Norway used to export nearly 60% of its oil to Asia, it has now almost all but stopped, and America has begun reallocating more natural gas and oil exports to the EU rather than countries like South Korea, Asia’s largest importer of American crude, who saw shipments from North American producers decline by 9.9%.

With winter looming in the distance, the EU has begun stockpiling natural gas, oil, and coal to offset any adverse weather. While these actions will negatively impact many countries and economies, the Europeans outbidding customers for more fuel, causing prices around the world to surge, will affect low-income energy importers the most.

South Asia, Africa, and Latin America, which are already struggling with food shortages and high prices for what is available, will be hard hit.

WHAT DOES THE FUTURE HOLD?

Ultimately, the futures of the EU geopolitical sphere and other countries that have traditionally relied on the global import and export of Russian fuel are dependent on many factors that will be influenced by the Russian and Ukraine conflict, inflation, and the world’s major superpowers’ ability to maintain a semblance of market stability during these times of political and financial unrest.

HOME SERVICE OIL

Home Service Oil is dedicated to providing continuous and reliable service to convenience stores, gas stations, automotive repair shops, and those requiring bulk-fuel delivery to keep their business afloat.

While times may seem uncertain, we can be your anchor, allowing you to take a breath and feel safe because Home Service Oil has your back.

Please contact us today for more information about our services or to request a service.

The post The Global Impact of Europe’s Energy Crisis appeared first on Home Service Oil Company.

BEFORE: HIGH INFLATION DESPITE LOWER GAS PRICES

Lower gas prices slowed inflation those past 98 days. At the same time, the cost of other items continued to rise, making inflation still a burden for American households. Grocery bills, rent, and utility costs, among other expenses, were still high, despite low unemployment and strong job growth.

NOW: CLOSED REFINERIES ARE RISING GAS PRICES

US gas prices rose by a penny to $3.68 a gallon on September 21. Gas prices have continued to increase, and the price as of October 5 was $3.83 a gallon.

Normally, by the end of the summer driving season, the lessened demand for driving pushes the price of gas downward. Yet, many US refineries are shut down for maintenance work. In fact, that’s nearly 18% of the nation’s refining capacity.

ALSO: OPEC+ REDUCED OIL PRODUCTION

OPEC+ announced on October 5 they would slash oil production by 2 million barrels a day. In September, prices fell to $90 a barrel. So, there’s a perception that, by cutting production, Saudi Arabians are trying to push prices back up to $100 a barrel or more.

RELY ON HOME SERVICE OIL

You may be wondering what you can do and who you can rely on. While the gas industry continues to change, Home Service Oil remains a dependable source for all your petroleum needs.

Request a delivery for heating oil, diesel fuels, and gasoline from our professionally trained personnel to your home, farm, construction site, or commercial accounts. Let us know how we can serve you by also calling 1-800-467-5044 today!

The post Why Gas Prices Are on the Rise appeared first on Home Service Oil Company.

Once fall has started, it’s only a countdown until winter comes. That means we must take the proper steps to prepare ourselves before that first snowfall.

Keep reading to learn how you can prepare your car during fall.

CHECK THE BELTS AND HOSES

While looking at your belts and hoses, you want to ensure there are no signs of splitting, fraying, or glazing. Key characteristics to look for are cracks, leaks, and wear. One major problem with faulty belts and hoses is overheating, regardless of the season.

CHECK THE FLUID LEVELS

You want to monitor several different types of fluids throughout the year. These are:

• Windshield washer fluid – essential for maintaining visibility
• Transmission fluids – crucial for cooling the vehicle
• Coolant – regulates the engine’s temperature
• Brake fluids – serve as a lubricant, preventing corrosion
• Power steering fluids – vital for operating your car safely and properly

CHECK THE TIRES

Even if your tires are meant to last all year long, checking the tread, inflation, and overall condition is essential before heading into winter.

Regardless of the tire type, it would be best if you had them rotated so they wear evenly. You should also check to see if the tire pressure in each tire is appropriate. Maintaining proper tire pressure is crucial, as cold weather quickly causes tires to lose air.

If you live in a location that expects snow and ice, consider swapping out your current tires for snow tires (if you haven’t done that already).

PREPARE FOR COLD WEATHER

You don’t want to get stranded on the side of the road unprepared, especially during this time of year. Stock your vehicle with:

• Gloves
• Ice scraper
• Blanket
• First aid kit
• Jumper cables
• Flashlight

These items will help keep you warm, can get your car going again, and help you find help.

CHECK THE OIL

You should always change your oil at the recommended interval. Look at your car’s manual to determine how long you can go without changing your oil, as it may vary by manufacturer and driving habits.

CHECK YOUR HEAT

You don’t want to be without your heat when the cold weather hits. Ensure your defroster works too. You should never drive with a fogged-up windshield, as you’re putting yourself and everyone else around you in danger.

CHECK THE BRAKES

As you can probably guess, brakes are essential for safe driving. Unfortunately, cold weather heightens brake problems since the roads have the potential to become slippery from rain, snow, and ice. Listen for unusual noises that may suggest that your brake pads are failing.

CHECK YOUR LIGHTS

You should ensure that all your lights:

• Headlights
• Taillights
• Brake lights
• Flashers

are all in working order. If needed, replace a burnt-out or broken bulb as soon as possible. Not only do these lights help you see, but they also alert other drivers to your presence.

CHECK THE BATTERY

Going into every season, it’s essential that you check your battery for charge and signs of corrosion. You can even take your car to a local auto parts store for a diagnosis (these are often free of charge).

If you’re told you need a new battery, take your car to a mechanic that can switch it out for you. The battery is critical to start your vehicle, so you don’t want to neglect this step.

CHECK YOUR WIPER BLADES

You may not realize it, but your wiper blades are one of the most used pieces of equipment on your vehicle. They wear down over time, and with use, so you’ll want to switch them out often.

Knowing when to change them out is pretty straightforward. Old blades will:

• Streak your windows
• Leave large patches of moisture when used
• “Chatter” as they move across your windshield

The wiper blades themselves are made of rubber or silicon. As they wear down, you can get to the point at which the hard plastic or metal of the wiper arm is making contact with the glass of your windshield. This can cause damage to your windshield, so it’s best to look at your wipers at least once a year.

HOME SERVICE OIL

Are you looking for a supplier to fill your auto parts shop or convenience store? Home Service Oil can provide the chemicals, fluids, parts, and more your drivers will need this fall.

As everyone prepares their vehicles for colder weather, it’s essential that you aren’t caught off guard by the surge in those looking for things like brake fluid.

Contact us today, and a representative will be in touch with you as soon as possible to help fulfill your request.

The post How To Prepare Your Car During Fall appeared first on Home Service Oil Company.

• Manufactured out of a durable material that won’t rust, corrode, or break
• Temperature-compatible
• Safe to carry fuel without leaking or spilling any

Keep reading to learn more about the best racing fuel jugs on the market.

VIP RACING FUELS MOTORSPORT 5 GALLON SQUARE PLASTIC UTILITY JUG (RED)

This is one of the finest racing jugs on the market. Manufactured from virgin, high-density polyethylene, this jug will stand the test of time and is lightweight at only 1.8 pounds.

Its design is simple yet effective. Featuring a four-inch opening and a screw cap lid that ensures comfortable and fast pouring, you’ll be fueling up with confidence. It also comes with an extra pour, meaning you’ll have non-slip pouring and splash-proof emptying.

At just under 11 X 11 inches, these racing fuel jugs can also fit neatly next to each other for easy transportation.

VP RACING FUELS MOTORSPORT 5 GALLON SQUARE PLASTIC UTILITY JUG (YELLOW)

At just 4.65 pounds, this heavy-duty racing fuel jug is another prime choice for those looking to carry racing fuels like methanol, nitro-methanol, etc. It’s essential to remember that this jug is manufactured specifically for racing fuels, not the regular fuels you use on the highway.

This jug also ranks highly in child safety, so you don’t have to worry about your kids getting into something they’re not supposed to and risk injuring themselves.

RISK RACING 00167 EZ3 UTILITY JUG COMBO

This racing fuel jug’s three-handle design makes it extremely easy to handle and separates it from the rest of its competition.

Its transparent body makes it easy to tell how much fuel you have left, so you’ll never be stuck wondering if you should fill up. Its flat sides provide a surface for you to put your logo or picture on.

While more expensive than other options, the Risk Racing 00167 EZ3 Utility Jug Combo is made from a double-layered, high-density polyethylene for enhanced durability, is extremely easy to transport and features a locking mechanism that prevents stealing.

TERA PUMP TRFA01-XL RACING FUEL TRANSFER PUMP

At just 1.9 pounds, this jug is extremely easy to carry and use, while its ultra-long hose ensures that you can use every drop of fuel in the jug quickly and efficiently.

Manufactured from durable anodized aluminum, it features a high-torque motor that can handle any job.

This transfer pump features a built-in check valve to ensure no fuel flows back into the tank.

Are you worried about over-pressurization? Don’t be! It also comes with a pressure relief valve to keep that from happening in the first place.

HOME SERVICE OIL

At Home Service Oil, we can provide products like oils, functional fluids, gas cans, gloves, fuses, and light bulbs for convenience stores and auto shops. All you have to do is request a distribution service on our website. Contact us today, and a representative will get in touch with you as soon as possible.

The post The Best Racing Fuel Jugs on the Market appeared first on Home Service Oil Company.

Fuel delivery is a great way to get exactly what you need at the prices you want. From increasing productivity to saving you money, what’s there not to love about bulk fuel delivery? With Home Service Oil, all you need to do is contact us about a delivery, and we’ll get you set up with a program that will change the way you look at fuel. 

There are many advantages to using a fuel delivery system. If you want to help your company grow efficiently and seamlessly, we highly recommend that you use our fuel delivery system. Here are a few reasons why.

It’s Customizable

From a farmer needing 300 gallons for a tractor to a gas station needing 8,000 a day, Home Service Oil can customize the amount of oil you need. That means you won’t be wasting your money or time on incorrect amounts of fuel. You’ll have exactly what you paid for.

Improves Productivity

You can have trained professionals handle your procurement and logistics, so you have one less thing to worry about. Your focus should be on your company and customers, not where you’re going to find affordable fuel every day.

High-quality Products

Traveling to pick up gas or diesel from multiple sources can leave you with low-quality options. Working with a reputable company, like Home Service Oil, will give you the reassurance that you need that your supply is top shelf.

Eliminates Work

When you or staff has to stop en route to fuel up, it’s just one more thing you have to worry about. Managing receipts is another thing that adds to your expenses. Receipts are easy to lose too. Data loss can make reporting difficult and inaccurate, and matching up credit card statements is time-consuming.

Security

There’s a lot that can go wrong and a lot that influences how you get fuel and how much you pay for it. With fuel delivery, you don’t have to wait in line at the pump or worry about trouble due to bad weather and rising gas prices. Go with fuel delivery and reduce risk and solve problems before they even happen.

Home Service Oil

Pick Home Service Oil for all your bulk fueling needs. Whether you need to fill a tractor or a gas station, we have you covered. Need to rent a tank? We can help with that too! For more information call us today at 1-800-467-5044. To learn more about what we offer and to schedule a delivery, contact us here.

The post Advantages of Fuel Delivery appeared first on Home Service Oil Company.

Typically, jet fuel is created by blending and refining various products, like naphtha, gasoline, and kerosene, to meet specific military or commercial specifications.

Once jet fuels are made, they are transported through pipelines to terminals where additional products, such as metal deactivators, electrical conducting additives, and fuel system icing inhibitors are added.

Keep reading to learn more about jet fuel composition.

HOW IS JET FUEL MADE?

It takes a series of complex processes to produce jet fuel from crude oil. These steps include:

1. Once in the refinery, crude oil is placed into a fractioning column, where the crude oil is separated into its major components.
2. The crude oil is heated to 400 degrees Celsius. At this temperature, the crude oil vaporizes and rises towards the top of the fractioning column.
3. The temperature inside the fractioning column decreases the closer the gaseous products get to the top. As each crude oil component reaches its boiling point, they liquidize.
4. Heating oil and diesel separate around 360 degrees Celsius.
5. Kerosene and petroleum liquidize at 250 degrees Celsius.
6. At 80 degrees Celsius, methane, propane, butane, and ethane condense at the top of the column.
7. The liquid components are drained off at the side of the fractioning column.

DIFFERENT TYPES OF JET FUEL

While most jet fuels are made from crude oil, different additives are used to make different types of jet fuel.

In civil aviation, piolets most commonly use Jet A (used only in the U.S.) and Jet A-1. The only difference between these two types of jet fuels is their freezing points.

Jet fuel can also be manufactured in synthetic and CO2-neutral forms, but these are around twice to three times more expensive to produce than regular jet fuel.

These alternative jet fuels can be blended with and used in place of conventional jet fuels. These are called “drop-in” fuels. They are still subject to the same high safety and quality requirements as pure, regular jet fuel, meaning they’re immediately ready for use and require no modification to the aircraft or the fueling process.

There is also jet fuel called Jet B. This fuel is used in frigid climates because it has a freezing point of -60 degrees Celsius. Unfortunately, it is highly flammable and challenging to handle. So, most operators avoid it except for military or specific commercial missions.

JET FUEL PRICES

On average, per every hour you burn jet fuel, you’re losing between $500 and $2,000.

The cost to fill a plane depends on what type of plane you’re flying:

• Small private plane – $250-$400
• Private Jet – $2,000-$30,000
• Commercial airliner – $20,000-$250,000

HOME SERVICE OIL

Try Home Service Oil for all your fueling needs. We can help you keep your plane fueled up and ready to go so you never have to worry about missing a flight.

We offer all types of fuels, supplies, and more for your operational needs. So, what do you say? Contact us today, and we’ll help you in any way we can!

The post Is Jet Fuel Made From Crude Oil? appeared first on Home Service Oil Company.

While some experts expect gas prices to continue to decline, it can be hard to tell if this trend will continue. As Amos Hochstein, a State Department senior advisor for energy security, said on CBS’s Face the Nation, “energy prices are highly volatile, making it difficult to make any predictions.”

What do future gas prices look like? Will they continue to go down? Keep reading to find out.

THE ECONOMY

The Federal Reserve recently increased interest rates to pull down demand and tame inflation. While this could lead to more unemployment, it could also slow down price increases. Because investors have grown worried about a global economic downturn, this has led to a slump in the crude oil market resulting in a drop in gas prices.

SANCTIONS ON RUSSIAN OIL

While sanctions on Russian oil have had less impact on global supply than expected, European sanctions could further strain that oil supply in the coming months.

By December, the European Union will entirely ban Russian maritime deliveries of crude oil, and in February, it will ban shipments of refined oil products from Russia. An insurance ban on ships carrying Russian oil will also be phased in, making it more difficult for Russia to export oil products worldwide. This could all result in rising oil prices.

WEATHER ON THE GULF COAST

According to the National Weather Service, this year’s hurricane season could be more active than usual. Unfortunately, a hurricane on the Gulf Coast could knock out an oil refinery at any time. In 2020, the U.S. lost two refineries due to an explosion and a natural disaster. Losing another one could devastate the oil supply and push up fuel prices higher than we’ve already seen.

THE U.S. GAS DEMAND

As more people hit the road this summer, you may see prices jump between now and Labor Day. It’s also possible that falling prices could increase demand, ultimately pushing prices up again.

According to Patrick De Haan, the head petroleum analyst at GasBuddy, national prices could fall below $4 a gallon in Mid-August. Still, only if gas demand doesn’t surge, the country avoids a destructive hurricane, and the economy continues to cool down.

WHAT WILL HAPPEN?

As of right now, gas prices are continuing to fall. However, many factors can influence this trend. So far, it looks as if oil prices won’t be expected to rise until December and into 2023. Yet, many unforeseen agents could prematurely raise gas prices.

We’ll just have to wait and see.

HOME SERVICE OIL

Gas prices are dropping, and now is the time to fuel up! Higher a bulk fuel delivery service to fill all your fueling needs!

At Home Service Oil, we don’t just deliver gasoline. Our services also extend to heating oil, motor oil, coolants, and more. Visit our website at https://www.hsoil.com/ to see what we have to offer!

The post When Will Gas Prices Go Down? appeared first on Home Service Oil Company.