04-27-2015, 08:10 PM | #1 | ||
Hall Of Famer
Join Date: Nov 2002
Location: Newburgh, NY
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Heating Oil Price Advice
My heating oil supplier gave me two options for a yearly contract.
1 - 2.699/gal 2 - 2.799/gal cap, but could be lower based on market price + 125.00 fee I use @1000 gal in a year. Option one looks good, but I saved a lot this year having an option 2 contract (although the price was capped at 3.699/gal). Which option would you choose?
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04-27-2015, 08:22 PM | #2 |
Hall Of Famer
Join Date: Dec 2003
Location: the yo'
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Holy crap
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04-28-2015, 06:28 AM | #4 |
College Benchwarmer
Join Date: Nov 2003
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Seems unlikely to me that we'd be looking at a second consecutive winter of falling prices.
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04-28-2015, 08:44 AM | #5 |
Hall Of Famer
Join Date: Dec 2002
Location: Mass.
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My heating company has something similar (I think the difference between our two plans might be 15 cents though, I do not recall off the top of my head).
I decided for budget reasons to just go with the first option and then record prices through the year for a few years to see how things went. There have been a few years where the price ended up dropping over the winter, but never enough to make up the difference in cost between the prices though. The only winter I actually would have saved money with the second plan would have been last year. Overall though I've been better than breaking even just sticking with the first plan the last few years combined. |
04-28-2015, 10:51 AM | #6 |
High School Varsity
Join Date: Jun 2002
Location: Boston, Ma
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When I lived in Massachusetts, I joined Mass Energy.
http://www.massenergy.org/ You might look to see if you have a consumers alliance in your state. I am fairly certain that I saved money with them vs any deal I would have gotten on my own but there is no 'cap' option. You just pay slightly below market rates. Last edited by Castlerock : 04-28-2015 at 10:52 AM. |
04-28-2015, 02:35 PM | #7 |
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Join Date: Dec 2003
Location: the yo'
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Paying 3000/year for heating oil would drive me bonkers. I get pissed when my gas bills are like around 8-900 for the season.
Obviously option A looks good, and the other question I would have is that can you buy fuel at a market rate from another provider if there is a huge price drop? |
04-28-2015, 02:44 PM | #8 | |
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Join Date: Nov 2002
Location: Newburgh, NY
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Quote:
I have a fairly big house and problems with Raynaud's Syndrome, so I don't go much below 68. We're also slowly tackling energy efficiency problems, but I don't have the cash to do that all at once. I wouldn't be able to buy from another dealer without a $399 penalty.
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To love someone is to strive to accept that person exactly the way he or she is, right here and now.. - Mr. Rogers |
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05-02-2015, 06:35 AM | #9 |
Coordinator
Join Date: Sep 2004
Location: Chicagoland
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05-02-2015, 07:26 AM | #10 |
Hall Of Famer
Join Date: Nov 2002
Location: Newburgh, NY
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I went with option one.
__________________
To love someone is to strive to accept that person exactly the way he or she is, right here and now.. - Mr. Rogers |
05-02-2015, 11:04 AM | #11 |
Pro Rookie
Join Date: Jan 2002
Location: Macomb, MI
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Similar situation for us... I always do option 2, I like the possible gain if it's lower. You are only out $0.10 / gal if it goes up.
2 yrs ago I did neither...paid $850 3 months in a row. ... Still bitter |
05-02-2015, 11:15 AM | #12 |
Pro Rookie
Join Date: May 2002
Location: Prairie du Sac, WI
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Been pondering what I'll do with my new house. Previous one had a combination of outdoor wood stove/LP. The wood stove was nice once the wood was cut and made. But I absolutely hate cutting/splitting wood. Yeah, it saves money on LP but nobody considers the cost of a chainsaw, splitter, and more importantly the time it takes.
Right now, geothermal is probably the way I'm going to go. More expensive up front but it's looking like it'll pay for itself. Nevertheless, we'll always be contracting LP as our properties that house my employees are all run on LP. |
05-02-2015, 02:41 PM | #13 |
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Join Date: Dec 2003
Location: the yo'
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I'd love to have one of those outdoor ones that you can fill with wood and leave for a day or so.
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05-04-2015, 01:06 PM | #14 |
College Benchwarmer
Join Date: Nov 2003
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geothemal ftw if you can afford the initial outlay
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05-05-2015, 09:34 PM | #15 |
Hall Of Famer
Join Date: Dec 2003
Location: the yo'
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Do you guys just not have natural gas as an option?
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05-06-2015, 08:28 AM | #16 |
High School Varsity
Join Date: Jun 2002
Location: Boston, Ma
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Many places in the northeast do not have natural gas infrastructure. There are no gas lines to tie into. Some use heating oil because, throughout most of my lifetime, oil has been cheaper than gas so homes were built with oil heat. The cost to convert is significant.
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05-30-2015, 06:21 AM | #17 |
Coordinator
Join Date: Sep 2004
Location: Chicagoland
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Most of Portland, Maine has natural gas infrastructure, but sadly not in the part in which we live. Most of the state, however, doesn't have the infrastructure. Given that it's a pretty rural state, I'd be surprised if they fully pipe it for natural gas before a day when people switch completely to solar or something else. Heck, many folks in rural Maine use wood stoves as their sole source of heating in the winter.
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05-30-2015, 09:45 AM | #18 |
Coordinator
Join Date: Jul 2003
Location: Here and There
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05-30-2015, 10:36 AM | #19 |
Pro Rookie
Join Date: May 2002
Location: Prairie du Sac, WI
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