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Hi, all. I have 2 oil tanks in my basement and last winter used an estimated 150 gallons of oil for the winter. (I had a wood pellet insert installed in my fireplace in October '13 and so was able to use pellets most of the winter, so even though it was BRUTAL, I saved a ton on oil!!). My local oil companies just switched to summer pricing and the lowest I see is $3.45/gallon, which is about .35/gallon cheaper than it was most of the winter. (I'm in the Monadnock region -- prices here seem to be higher than in many other parts of the state, alas.) I have a lot of oil left in the 2 tanks so could go without replacing the ~150 gallons I used, but I expect the prices will be higher next summer, so I might as well get the tanks filled THIS summer.
My question is, from your experience, do prices go down in June and basically stay the same until they start going up in the fall? Or do they go even lower in July? I simply can't remember what the situation was the past couple of years (just moved into this house in May 2012, before that used pellets exclusively for heating at my former house).
The US Energy Information Administration has weekly price data for NH, it seems to only cover October-March. Aside from all the other factors that affect petroleum product pricing (see this ancient CT forum thread). Looking at my records of oil deliveries, June prices are always lower than September.
The real risk with waiting until the end of summer is hurricane season. Any supply or refinery interruption can cause prices to spike.
The US Energy Information Administration has weekly price data for NH, it seems to only cover October-March. Aside from all the other factors that affect petroleum product pricing (see this ancient CT forum thread). Looking at my records of oil deliveries, June prices are always lower than September.
The real risk with waiting until the end of summer is hurricane season. Any supply or refinery interruption can cause prices to spike.
I was actually wondering about the difference between June and July (not June and September -- I definitely won't wait until then!) ... are June prices typically the same as July's? If so, I might as well order my ~150 gallons now. If not, I may wait a month.
You are already spending over $500 for the oil. Why worry about $50 or so either way? Fill the tanks, replace the filters and be done with this chore. You might as well get a delivery of fuel pellets while you are at it.
GregW, $50 is almost a week's worth of groceries, so if I can save that, it's worth it. And I already have 2 years' worth of wood pellets so I am all set with those for the next 2 winters. I don't actually need to get oil either, but I can't imagine that the price will be lower next summer ...
K n NH - I'll agree with you about next year's oil prices. Pellet prices are likely to do the same. I really do not like shopping so searching for the best prices is not much concern.
Hi!
Great question. Summer prices usually decrease....USUALLY. This summer has been a little different as they have actually gone up a little. Sometimes world issues/instability can cause this spike. But definitely as we head into the heating season you can expect the prices to go up!
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Fill your tank in June.
Summer prices definitely lower...usually
