'08 Predictions: Oil to reach $100 a barrel

[Elcarim]

So, from what I understand from an earlier post, you can't get a contract like that anymore. Is that right? I would expect it to lock in at a higher rate now, but no contracts at all? Do you know?

[WhoFanMe]

Originally Posted by Elcarim

So, from what I understand from an earlier post, you can't get a contract like that anymore. Is that right? I would expect it to lock in at a higher rate now, but no contracts at all? Do you know?

I believe that is correct, that the oil dealers buy in the summer at a wholesale price and sell that supply with a mark up.

[mollysmiles]

In the summer you'll see oil companies advertising that they're signing customers for their "budget payment plan". You can do the comparison shopping then between companies that deliver to your area, but the prices are for a limited time. After the opportunity passes, you pay full price for the oil. If you move to a house you've never lived in before they'll visit if they can and look things over. If they can't visit, they'll ask you questions over the phone about the house. You'll be asked how much oil the house used the previous winter. In many small towns, the oil company all ready knows the house and who lived there, and chances are good they delivered there! lol....the whole thing may sound daunting, but once you're in with a company they send you remind notes that it's time to "renew" and if you forget, they'll probably call you and give you one last chance--at least in small town Maine Or, the secretary who works at the oil company sees you in the grocery store, asks you about it, and signs you up the next day Lots of business gets done "informally"

[Coaster]

Originally Posted by Elcarim

So, from what I understand from an earlier post, you can't get a contract like that anymore. Is that right? I would expect it to lock in at a higher rate now, but no contracts at all? Do you know?

You likely can't lock in a price NOW for this heating season, but you will be able to later this year, usually in the summer.