What is going on with the cost of oil?

Unsurprisingly, we’ve been getting many calls around two connected issues—the surge in fuel prices and supply concerns. People are astounded by how much prices have risen, and how fast. They are also concerned that there will be interruptions in supply that will cause them to run out of fuel. 

Prices were already up more than a dollar this season from the previous year because of issues related to the pandemic. Then, the Russian invasion of Ukraine shocked the energy markets, sending crude oil up over $110 per barrel.

To give you a sense of how this affects us and you, on March 2, we received notice at night from our suppliers that their prices were going up 20 cents the next day. Then, on March 3, they went up three more times—a total of 60 cents in just 24 hours! 

We don’t know where things will go from here. One thing we can tell you is that we hate this as much as you do. Some people are under the misconception that when prices rise, we make more money. The opposite is true. People cut back usage. They have trouble paying their bills and our receivables skyrocket. Meanwhile we must pay our suppliers in just 3-10 days. It is an awful mess for everyone.

One thing you can count on is that we will not let you run out. We have been in business over 80 years and have very strong relationships with our suppliers. We are already getting calls from customers who are with other companies who can’t say the same, and who are unable to get deliveries for 2-3 weeks out! You don’t have to worry about that with Stocker Oil.

If you are having trouble paying your bill, talk to us. Many times, we can work out a payment arrangement to give you more time, especially if you’ve been with us a while.

Nothing will make us happier than when prices start dropping. Until then, trust us to look out for you and pray for the people of Ukraine & Israel.