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Most Oil companies follow the NYSERDA Oil market prices. Their Oil price is way off with current price in LI so you won't see a decrease in Oil rate for a while.
It's all negotiable. I wouldn't pay NYSERDA rates any more than I'd pay MSRP for a car.
For anyone who has a contract with a cap price, have you contacted your company to ask why the price per gallon has not decreased given current events?
I use to call when I had contract few years ago when the oil price goes down but they would say its just day to day price. I have never seen being delivered lower than the ceiling price except the first fill up.
For anyone who has a contract with a cap price, have you contacted your company to ask why the price per gallon has not decreased given current events?
I had a ceiling price contract several years ago with Meenan when the oil prices took a noticeable dip, and did ask them why my price per gallon didn't go down. Was told that the price drop only triggers when the oil price goes down by at least 15 cents per gallon. At least that was their explanation.
Anyone who enters into a ceiling contract should ask the company what the "price drop trigger" is. It is definitely not something piddly like less than 5 cents per gallon, I would assume.
JUST PAID $1.65 A GALLON FOR 400 GALLONS, sage oil Co ...will never see that price again
Lower than 1.65 is coming. Oil demand is going lower and supply is increasing. For heating oil even worst ..weather getting better and winter was not so cold so oil dealers probably already have higher storage.
Lower than 1.65 is coming. Oil demand is going lower and supply is increasing. For heating oil even worst ..weather getting better and winter was not so cold so oil dealers probably already have higher storage.
Most Long Island oil dealers don't store oil, they buy it on the spot market as they need it. Some may have futures contracts.
Two days ago my guy was at $1.609; probably cheaper today.
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