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Old 06-10-2012, 05:41 AM
 
Location: Guilford, CT & NYC
168 posts, read 117,406 times
Reputation: 94

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Watch prices for local oil guys and watch the NYMEX spot Home Heating Oil#2 daily. Spot now is about $2.67 so an oil company has to mark up for storage, delivery, labor, overhead and profit. Reasonable markup is about $.40-$.50 a gallon. Too low they might not do emergency work as if you don't own and rent that is the owner's problem so you shouldn't care too much. Best advice is buy in summer and lock in a rate. Most companies let you lock in say $3.18 a gallon for $25 handling fee. Sad now you have to act like an oil trader: and I'm a gold trader on the COMEX.
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Old 06-25-2012, 01:18 PM
 
130 posts, read 82,352 times
Reputation: 90
my brother runs a gasoline distributor in CA. He says that generally speaking, June is the best time b/c summer reserves/demand/ etc are dealt with but winter is a long way off. I keep watching this price drop and am waiting to lock. Having trouble doing price comparisons....
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Old 06-25-2012, 01:29 PM
 
Location: CT
250 posts, read 363,991 times
Reputation: 99
I haven't checked out locking in the price, but there's a place in Enfield at $2.79/gallon and the company I had been using is at $3.04.

Going to bite the bullet and get my tank filled soon before the prices start climbing again
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Old 06-25-2012, 04:52 PM
 
Location: CT - close to coast
26,219 posts, read 14,265,993 times
Reputation: 4322
Quote:
Originally Posted by Cambium View Post
Looking at the price of oil... HOLY SMOKES!! What a drop. Looks like it wants to bottom out here...

If anyone can lock in a rate here, do it. If you have to fill do it. You'll never catch the true bottom but the risk is rewarding here. Who cares if it goes down another .20 cents... There's more room to go back to $4.00 a gallon then to $2.75. I say go for it.

Looks like volume drying up on each low. We are near last years low now.
Quote:
Originally Posted by Cambium View Post
Great price right now... IF....IF crude prices close below $82/barrel this week, I believe it will drop to mid $70s which means home prices drop too... BUT like I said, the risk is heavier to the downside now.
Quote:
Originally Posted by anthonyfromMA View Post
I haven't checked out locking in the price, but there's a place in Enfield at $2.79/gallon and the company I had been using is at $3.04.

UPDATE:
Isn't it ironic I mentioned home oil dropping to $2.75 and you found Enfield at $2.79 now?
Isnt it ironic crude prices dropped below $82 and hit mid $70s like I said?
It's like it was scripted. .. Charts tell the whole story.

That risk is rewarding for sure but dont play with fire...so much room to go up then down right now. I still say fill.. However...now that we broke that crucial $82 mark...IF...IF prices close below $75. WAIT... we could go to $68.

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Old 06-28-2012, 07:30 PM
 
Location: Austin, Texas
527 posts, read 1,096,348 times
Reputation: 323
Just wondering. We are relocating to CT from CA this summer. I have no idea how this whole purchasing gas thing works. Is it for all housing or just older homes? We simply get a gas bill from So. California Gas Co. There is no option of purchasing gas at certain prices, certain times, etc.
Can someone explain this to me so I don't look like an idiot when we get there.
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Old 06-28-2012, 08:05 PM
 
Location: CT
250 posts, read 363,991 times
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Quote:
Originally Posted by oc2nyc View Post
Just wondering. We are relocating to CT from CA this summer. I have no idea how this whole purchasing gas thing works. Is it for all housing or just older homes? We simply get a gas bill from So. California Gas Co. There is no option of purchasing gas at certain prices, certain times, etc.
Can someone explain this to me so I don't look like an idiot when we get there.

My wife and I had always rented with heat included, so this past winter was new to us and all I can speak to is having oil heat, not gas heat.

With oil heat there is a tank (usually in the basement with a capacity of 275 or 325 gallons I believe) and you either contract with a provider or pay-as-you-go and purchase when you wish. Generally speaking there are discounted rates when buying 150+ gallons at a time, but most places will do 100 gallons if you wish.

In our experience, we're in an 1800 sq ft apartment in an older, less efficient home. So we spent around $2,000 heating our apartment last winter.
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Old 06-28-2012, 10:23 PM
 
Location: CT - close to coast
26,219 posts, read 14,265,993 times
Reputation: 4322
Quote:
Originally Posted by oc2nyc View Post
Just wondering. We are relocating to CT from CA this summer. I have no idea how this whole purchasing gas thing works. Is it for all housing or just older homes? We simply get a gas bill from So. California Gas Co. There is no option of purchasing gas at certain prices, certain times, etc.
Can someone explain this to me so I don't look like an idiot when we get there.
If its natural gas you dont do a thing. Bill comes to you every month.
If its Electric you dont do a thing. Bill comes to you every month.
If its oil, you have to call a supplier to bring oil to your house to fill up the tank. You can either get auto refills or just keep checking and calling when you're ready.

Do you have oil or gas heat?
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Old 06-29-2012, 02:09 AM
 
Location: Austin, Texas
527 posts, read 1,096,348 times
Reputation: 323
Ww are not moving until the end of August. Do older homes generally use oil? Will that be something we will be made aware of or will we have to ask. We will be renting for at least a year so I would like to know what to look for. It seems for us at least gas or natural gas would be easier and most like what we are used to.
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Old 07-06-2012, 05:35 AM
 
Location: CT - close to coast
26,219 posts, read 14,265,993 times
Reputation: 4322
Quote:
Originally Posted by Cambium View Post
UPDATE:
That risk is rewarding for sure but dont play with fire...so much room to go up then down right now. I still say fill.. However...now that we broke that crucial $82 mark...IF...IF prices close below $75. WAIT... we could go to $68.

Amazing.. I really need to get back into the market.
So oil prices never closed below $75 and look what happened! Shot up to $90!

$90 is now a level of resistance. If it can close and sustain past $90(90-92) we can get t upper $90s.

We dont want it to go higher than $105. Skys the limit from there and home owners and car drivers will be hurting.

But like I have been saying since beginning of June... that was the time to fill up. Lets see what happens. If we can drop again, go past resistance or just level off here. I will say we level off here between $85-92. I havent check home oil prices so not sure what that interprrets to.

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Old 07-10-2012, 11:15 AM
 
Location: CT
250 posts, read 363,991 times
Reputation: 99
Prices dropping again? This is from about an hour ago:

Oil price down on China data, end of Norway strike


Just checked and the Enfield oil company is priced at $2.99/gallon
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