Low Sulfur Fuel Oil Market Growth 2015 - 2023

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Low Sulfur Fuel Oil Market - Global Industry USD 4315.5

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REPORT DESCRIPTION

Residential heating oil is also referred to as fuel oil. It is a middle distillate petroleum product and is similar

to jet fuel and kerosene. In the past few years, fuel oil and diesel were considered to be identical. The

same refined petroleum product was procured andsold through gas stations as highway fuel and as

heating oil by dealers.In the present scenario, residential heating oil is considered to be different from

highway fuel for two main reasons: firstly, in 1990s, the U.S. Environmental Protection Agency (EPA)has

passed a regulation that diesel oil used for transportation purpose should have a sulfur content of less than

500 parts per million. However,for heating oil, sulfur content was kept in the range of 2,000 ppm to 2,500

ppm. Further,the highway fuels are taxed on per unit price by both federal and state governments, in order

to raise revenue and to provide funding for highway trust funds. Since heating oil is not taxed on the same

lines as that of highway fuel, it is dyed in cranberry red color to differentiate it from highway fuel.

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The heating oil industry has a vast experience of supplying heating products and services especially in the

United States. In 1940s, oil acted as a substitute for replacing coal as primary heating source in the U.S. As

compared to coal, oil was less...