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Old 07-11-2012, 07:06 AM
 
Location: CT
250 posts, read 364,853 times
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My company (in S. Windsor) was charging $3.179/gallon, I talked them down to $3.09 for a fillup, getting it now before there's any additional increases
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Old 08-31-2012, 03:47 PM
 
Location: CT - close to coast
26,292 posts, read 14,326,758 times
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Quote:
Originally Posted by Cambium View Post
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.
UPDATE:

Amazing, I did it again. Can I go 3 for 3??

It did close above $90 and so it went right to upper 90s which was (and still is resistance)

That means... If we close above, we'll be going higher. Lots of room to the downside so I wouldnt be a buyer here just yet unless I see some more volume coming in. Notice more voume on the buys, less on the sells. Hmmm.



Looking back at what I said beginning of June. I wish I needed an oil fill. Damn. I knew that was the time!
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Old 09-10-2012, 08:02 AM
 
19 posts, read 13,067 times
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Now that I lost the best window to buy the Oil, what is the best move?

Wait and just fill as needed, or is there a possibility we will still get to rates that are worth locking?
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Old 09-10-2012, 12:21 PM
 
Location: CT - close to coast
26,292 posts, read 14,326,758 times
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Quote:
Originally Posted by phl2011 View Post
Now that I lost the best window to buy the Oil, what is the best move?

Wait and just fill as needed, or is there a possibility we will still get to rates that are worth locking?
Looking at the latest its hovering in the upper $90s which like I said is resistance. Meaning its having a hard time passing it. I see volume picking up slightly which worrys me. It means we might be going over $100 soon. Maybe I need to fill now but that just sucks because I'm trying to go for the record and go 13 months without a fill. That would be February.

If cooler weather is in store, price could get jacked up.

But at this point there's too much risk filling up, yet we could get burned again if we dont. Maybe now is the time to get that cap rate. Then if it does go lower, maybe lock it in then.

My thoughts? We push past $100/barrel soon. We wont drop to $80s until Spring if anything.
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Old 09-10-2012, 07:55 PM
 
Location: USA East Coast
4,445 posts, read 4,765,486 times
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Quote:
Originally Posted by phl2011 View Post
Now that I lost the best window to buy the Oil, what is the best move?

Wait and just fill as needed, or is there a possibility we will still get to rates that are worth locking?
I have been buying oil COD for 15 years… and I always do better than people in my family that lock in.

IMO – locking in is not really worth it at best...and at worst it is a rip off. They pull this “price gouge” every year in early fall (late Sept/early Oct), trying to get people on the band wagon to buy oil (“you better buy now and lock in because prices could shoot way up”…etc). They oil distributors try to get you to buy in early fall on the fear of expensive barrel prices and colder than normal weather. Of course, what often happens is at least in our area (CT/NY/NJ) is that fall is mild and it stays warm almost December. By late December, the oil companies that deliver home heating oil are running scared because they only have about 90 days to sell most of their oil (Jan/Feb/March) – so prices drop.

Wait till at least November before buying if possible, and then just find the cheapest COD oil company.
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Old 09-11-2012, 10:38 AM
 
19 posts, read 13,067 times
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I bought this house earlier this year, so I didn't have to buy a lot of oil as the weather was warming up. I am very newbie when it comes to this.

I heard I need to clean the heating system to make sure it is efficient... I will research into that and then see who am I going to buy oil from..

PH
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Old 09-13-2012, 04:28 PM
 
11 posts, read 51,220 times
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Quote:
Originally Posted by phl2011 View Post
I bought this house earlier this year, so I didn't have to buy a lot of oil as the weather was warming up. I am very newbie when it comes to this.

I heard I need to clean the heating system to make sure it is efficient... I will research into that and then see who am I going to buy oil from..

PH
Let me know how you make out or what you decide. We're going to be purchasing a new home very soon and have started getting some info from some of the larger oil companies in the area. Since it's our first time in the home, we are considering going with a 1-year contract only because they offer a "free" tune-up of the heating system and a significant discount on the annual maintenance contract. It seems that filling-as-you go (or COD?) is probably the least expensive way of getting oil, but again, being new homeowners, we thought that locking in with a service contract would be "safe" for our first winter there. There is a fireplace in the home and we'll probably start looking at wood burning inserts since people seem to save money on heating a home that way, too.
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Old 09-14-2012, 09:07 AM
 
Location: USA East Coast
4,445 posts, read 4,765,486 times
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Quote:
Originally Posted by happyinCT View Post
Let me know how you make out or what you decide. We're going to be purchasing a new home very soon and have started getting some info from some of the larger oil companies in the area. Since it's our first time in the home, we are considering going with a 1-year contract only because they offer a "free" tune-up of the heating system and a significant discount on the annual maintenance contract. It seems that filling-as-you go (or COD?) is probably the least expensive way of getting oil, but again, being new homeowners, we thought that locking in with a service contract would be "safe" for our first winter there. There is a fireplace in the home and we'll probably start looking at wood burning inserts since people seem to save money on heating a home that way, too.
Getting the furnace tuned up IS a good idea. I do it every 2-3 years around late October. However, I would just caution that the “service contract” can be another gimmick: The heating oil company will try to sell you the service contract on the service of your furnace – of course anything that ever goes wrong with the furnace (and certain parts) are not covered by these contracts. Sometimes you’ll find that if you have a problem with the furnace and just called a repairman it’s cheaper in the long run. So I would just be careful. A pricey service can be a loser on a newer furnace.

One other note about saving money in the heating season (I know everyone is trying to): I would invest in 2 small electric space heaters. You can find them at Wal-Mart, Home Depot, Lowes…etc for between $15 and $75. On a coolish morning or evening in fall (Sept/Oct/early November) or spring (April) we run them to get quick heat and take the light chill out of the air. Normally Sept - early November is warm enough that the house will heat up itself during the day without the furnace on, its just the mornings/mid evenings that can get cool. The space heaters heat instantly and cost pennies to run... and can be much easier than the hassle of getting wood/drying it/carrying it/termites issues…etc. Once the truly cold temps come in Decmeber you can turn on the furance or use wood. As long as you only run the space heaters when someone is home they are as easy and cheap as it gets for quick heat.

Granted we live right on the coast of Connecticut, but we don’t turn on our furnace until mid November in most years (and turn it off on April 1st). That’s only about 5 months we need to buy oil. Last year it cost me about $900 totally from November through March to heat an 1850 sq foot house. .
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Old 09-14-2012, 09:41 AM
 
Location: CT - close to coast
26,292 posts, read 14,326,758 times
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Quote:
Originally Posted by Cambium View Post
My thoughts? We push past $100/barrel soon. We wont drop to $80s until Spring if anything.
We went past $100 this morning. Too easy.
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Old 09-14-2012, 10:39 AM
 
19 posts, read 13,067 times
Reputation: 25
I converted my fireplace to propane, I already had the propane tanks for the generator and pool heater, so it made sense to do that.

I do need to call someone to get the furnace tuned (any recommendation appreciated). But as far as oil price, I am pretty much screwed. I expect this will be an expensive winter here..

Depending on how it goes, next year I will convert everything to propane and get a bigger tank...

PH
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