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ENERGY PRICE UPDATE MARCH 2022

Written on: March 9, 2022

WHY YOUR BILLS ARE GOING UP

Dear Valued Customer,

Not surprisingly, we’ve been getting many calls around two related issues: the surge in fuel prices and supply concerns. People are astounded by how much prices have risen, and how fast. So are we at AFC. These situations cause customers to worry 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 to over $120 per barrel.

To give you a sense of how this affects you and AFC, on March 2, we received notice at night from our suppliers that prices were going up 20 cents the next day. Then, on March 3, prices went up three more times- a total of 60 cents in just 24 hours! Prices have continued to surge daily-a total of $1.25 in one week. Normally, prices may change 5 cents in a week.

What’s Coming Next

It’s impossible to know where things will go from here. One thing we can assure you is that we dislike this as much as you do. Volatility in the markets not only makes it challenging for us in the industry but can cause many to have the misconception that when prices rise, suppliers like AFC make more money. Customers begin to cut back usage; have difficulty paying their fuel bills and our receivables skyrocket. Meanwhile, we must pay our suppliers in 10 days. It simply is not a comfortable situation for anyone.

Feel Comfortable with Us

One thing you can count on is that we will not let you run out. We have been in business for more than 130 years and have very strong relationships with suppliers. We are already receiving calls from customers who are with other fuel suppliers who can’t say the same and inform their customers they are unable to get a delivery sometimes up to 20 days. You never will have to worry about this with AFC.

If you’re having trouble paying your bill, please contact us. Many times, AFC’s professional team can work with you to provide you more time to pay, especially if you’ve been a long-term customer. If you aren’t currently enrolled in our EasyPay Budget Plan, we highly recommend that now may be a great time to consider doing so. It will make budgeting your heating expenses more affordable.

This special banner was created to provide you comfort, assuring you that here at AFC, “we’ve got your back” by having the experience to address all these important topics.

We WILL get through these tough times, as we’ve done in the past, simply by working together.

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