I live in Southeastern CT, just bought a house, and now need to get fuel oil for the upcoming heating season. I am looking for opinions as to whether I should take my chances with a "discount cash only" supplier or enter into a contract at a fixed price or pre-buy arrangement. I'm getting quoes of arund $2.05 a gallon now; what will it be in January? Any advice is appreciated.
Fuel Oil
- Thread starter WOOCHOW
- Start date
- Status
- Joined
- Sep 28, 2002
- Messages
- 39,793
I float with the market ..but last year was the first year that I got hammered with paying more than I would with a prepay or locked in price. I have oil hot water ..so I buy one tank in July ..and I'm good until the mid/end of Oct. The summer tank has always been cheaper by a good bit ..but it didnt' happen this year. I go through about 1000-1200 gallons a year.
I don't quite understand the price. Diesel is about $229 if you buy it at the right place. There's about $0.45 of road tax involved with that. Diesel appears to float somewhat with gasoline ..but the home heating oil doesn't contour that profile at a reduced rate.
I don't quite understand the price. Diesel is about $229 if you buy it at the right place. There's about $0.45 of road tax involved with that. Diesel appears to float somewhat with gasoline ..but the home heating oil doesn't contour that profile at a reduced rate.
I don't think you have to go one way or another. Hedge.
Does anyone anticipate a shortage? At this point it seems plenty is available, you just have to figure a way to pay for it.
- Joined
- Sep 28, 2002
- Messages
- 39,793
Oh ..there will be plenty ...it just won't be cheap.
got locked in at 1.85 with hoffman a month ago.
I hear lock-in quotes are now in the $2.30 range for most oil companies.
I went with the "gold" plan, covers everything on furnace for the year, figured the extra 200 was worth it for piece of mind till I educate myself on furnaces.
My neighbor asked me same question last week, he didn't go with a service plan with lock-in price for oil yet, and mentioned something about getting heating oil from bjs or Cosco, which is an on-call thing market price. Check that out.
It takes a lot of oil at market price to make out better than the service plan cost. With new house might be worth the service plan, otherwise
I wouldn't go with a service plan/lock-in price unless they come down close or below $2/gal.
I figure oil prices will probably hit $3/gal this winter.
I hear lock-in quotes are now in the $2.30 range for most oil companies.
I went with the "gold" plan, covers everything on furnace for the year, figured the extra 200 was worth it for piece of mind till I educate myself on furnaces.
My neighbor asked me same question last week, he didn't go with a service plan with lock-in price for oil yet, and mentioned something about getting heating oil from bjs or Cosco, which is an on-call thing market price. Check that out.
It takes a lot of oil at market price to make out better than the service plan cost. With new house might be worth the service plan, otherwise
I wouldn't go with a service plan/lock-in price unless they come down close or below $2/gal.
I figure oil prices will probably hit $3/gal this winter.
I locked in at $1.99/gal. Here in upstate NY, it'll be going for $2.50+ later in the year.
You could pre-buy half, and take a chance on the other half.
Vermont is more expensive than CT. I just pre-bought at $2.099
Vermont is more expensive than CT. I just pre-bought at $2.099
My yearly contract expires in September. I guess I'll be paying a bit more than last years $1.599.
- Status
