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Old 10-13-2008, 01:10 PM
 
Location: Vermont
1,475 posts, read 3,948,118 times
Reputation: 847

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I said when it hit $3.00 I was going to jump, but I'm getting greedy. The climate is perfect for oil to keep going down.

Would OPEC announce they are cutting supply because of the drop in demand. That would hurt.
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Old 10-13-2008, 01:18 PM
 
Location: The Woods
18,051 posts, read 24,778,350 times
Reputation: 10833
I bet there's some people who prepaid in the summer mad now...but it may very well go back up, after the election, like last time...
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Old 10-13-2008, 04:51 PM
 
Location: hinesburg, vt
1,574 posts, read 4,658,452 times
Reputation: 401
Yeah, I did the pre-buy and at current rates it looks like it will cost me plenty. Luckily, I had a carryover full tank at 2.60 to start this winter off. Based on what we have seen over the past year, the volitility of oil, especially home heating oil, it is possible that the prebuy may pan out to be a good deal come February. However, for the vast majority who pay upon delivery I do hope that we don't have another massive run up in price.
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Old 10-18-2008, 04:23 AM
 
12 posts, read 51,763 times
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I joined the "Our Town Energy Alliance" this year, to see if I could save some $. You pay $25 at the start of the season, (this season they are closed off from now), and they get you a discount based on them ordering millions of gallons. Anyways, on their website it says what the daily cost is of oil...yesterday, it was $2.6724!!! I'm glad I paid my $25 this time. I had heard about it last year but was too cheap.
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Old 10-18-2008, 08:12 AM
 
Location: Inis Fada
16,966 posts, read 32,594,601 times
Reputation: 7664
I have to call my heating company. I have been paying $332/mon on a budget plan for kero since June. My tank is outdoors and old owners had constant problems with the heating oil congealing in the feeder tubes. When I agreed to the budget, I never thought oil would go back down. I have to see what is happening with the price of kero, and what the oil company does toward the end of the heating season should my consumption start to appear to be less costly than my budget payments were set for.

Has anyone here ever been in that position?
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Old 10-19-2008, 04:36 PM
 
12 posts, read 51,763 times
Reputation: 11
I would assume they would carry the credit forward to the next heating budget season, and your payment would probably be a lot lower. That's how it worked at my old company.
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Old 10-20-2008, 08:06 AM
 
Location: Vermont
1,475 posts, read 3,948,118 times
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I don't understand the huge price differences in the Burlington area. I called this morning and I got quotes ranging from $2.95 to $3.47. I locked in at $2.95 for a delivery tomorrow. I would have waited even longer, but I'm almost completely out of oil now. A couple of years ago I had my furnace on when I ran out of oil, and I had to have a serviceman bleed the air out of my fuel line.

I thought my fuel bill was going to be astronomically higher this year than last year. As it turns out I will pay exactly one penny more per gallon this year than last.
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Old 10-20-2008, 09:02 AM
 
Location: hinesburg, vt
1,574 posts, read 4,658,452 times
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Even though I did the pre-buy it is good to see heating oil dropping to allow folks to get a full tank to start the winter off. I was going to say at a reasonable price, but even at 3.09 it is too high, though, better than the mid $4 range. Of course we don't know what the price will be in Jan/Feb, but OPEC is getting nervous and all it takes is for them them cut production and once the coldest months get here, presto, he price will jump up. I think OPEC never assumed that after hitting $147 a bbl we would in a few short months be below $70 per bbl. The wide price ranges for oil and especially gasoline are especially evident in the Burlington area. The retailers are trying to make back some money I guess so they are very slow to lower the prices, but if oil jumps again the price at the pump will go up immediately.
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