Heating oil remains a trusted, efficient way to keep Nova Scotia homes warm—but as any homeowner knows, heating oil prices can fluctuate. Understanding what drives those changes can help you plan ahead and make informed choices about your home heating.
In this blog, we’ll break down the key factors that affect heating oil costs in the Halifax area—and share a few smart ways to save.
Unregulated but Competitive
Unlike gasoline, heating oil prices in Nova Scotia are not provincially regulated. That means companies set their own prices, creating a competitive market. Consumers benefit from more choice but also face a wider range of pricing—and service levels.
There are two main types of suppliers:
- Full-service companies offer automatic delivery, 24/7 emergency service, annual system inspections and maintenance, budget billing, and flexible payment terms.
- Discount providers usually just deliver oil. You call them when you need it, and additional services—if available—cost extra or are outsourced.
What Drives Heating Oil Prices?
Heating oil is refined from crude oil, so it’s tied to the global market. Key factors include:
- Crude Oil and Heating Oil prices – Both crude oil and its derivative heating oil are commodities traded openly on the world market. They are affected by supply, demand, and world events (like wars or natural disasters).
- Seasonal demand – Prices often rise in winter when demand is highest.
- Currency exchange rates – Oil is priced in U.S. dollars.
- Market speculation – Traders betting on future prices can influence current costs.
- Taxes and fees – As of May 2025, heating oil in Nova Scotia is not subject to the federal carbon tax (removed in Nov 2023) but still includes 14% HST less the 9% provincial rebate for a net tax of 5%.
How to Save on Heating Oil
- Use automatic delivery – Avoid emergency fills and price spikes.
- Stay on top of maintenance – A well-tuned system burns less oil.
- Upgrade old equipment – Modern systems can cut fuel use by up to 30%.
- Consider budget billing – Spread out payments across the year.
- Improve home efficiency – Weatherstripping, insulation, and smart thermostats make a big difference.
Scotia Fuels: Built-In Value
Scotia Fuels is a full-service provider—but with a difference. We include emergency service and your annual furnace tune-up right in the price of every litre of oil. That’s not standard across the industry.
Many full-service companies charge 5 cents or so less per litre, but they’ll bill you for service and tune-ups or you’ll need to purchase a separate service contract. Scotia Fuels adds a small per-litre fee to cover those costs up front, so you don’t get surprise charges later.
We also publish a regular price comparison chart on our website to show how we stack up against other full-service providers. Even if our price looks slightly higher at first glance, it often saves you money overall—and gives you 24/7 peace of mind in the middle of a cold January night.
Questions? Let’s Chat.
Scotia Fuels has been serving HRM for over 50 years. We’re local, family-owned, and always happy to help. If you want to learn more about pricing, delivery options, or becoming a customer, send us a note at https://scotiafuels.com/contact-us/ or call 902-453-2121. We’d love to hear from you.