Oil Prices ... Have you locked in yet? - Mothering Forums

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#1 of 12 Old 09-15-2005, 01:31 PM - Thread Starter
 
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So I laughed and threw away the June letter from our oil company that said if we locked in, we would pay $2.29/gallon.

Silly me, now I have called around and the best I can do is $2.43/gallon. Have any of you locked in, or are you going to pay as you go for the upcoming season?
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#2 of 12 Old 09-15-2005, 01:43 PM
 
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we did a prebuy for $1.99/gallon.

we still had a credit of $62 from last years pre-buy from a different company. The week after Katrina they came through to fill up our tank and anything not covered by the credit with $2.89/gallon. i'm fuming because it seems like they could have phoned with a heads up or waited a week or two to deliver once the price went down. And what can you really do, it's not like they can undeliver the oil.
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#3 of 12 Old 09-15-2005, 02:25 PM
 
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How do you lock in?
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#4 of 12 Old 09-15-2005, 02:38 PM - Thread Starter
 
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Some companies lock in, others won't. With a lock-in, you usually have to pay up front for at least 500 gallons. Now that's a fun check to write!

Other people, like my boss, don't lock in and pay whatever the market price is when they need the oil.
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#5 of 12 Old 09-15-2005, 03:27 PM
 
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We can lock in here.
We used to heat with oil but are now selling our Toyo and bought a wood stove and are collecting firewood ourselves.
To the tune of $5 a cord permit, our time which is free and the gas it takes to get the wood and cut it.

The price of oil is

I cant imagine paying up front for 500 gallons. We couldnt do that, it'd break the bank

We would normally buy $50 or $100 worth of oil each month during heating season. We wouldnt fill the tank all at once because it stressed the check book to much.

There are going to be a lot of cold people this winter I fear.
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#6 of 12 Old 09-15-2005, 10:57 PM
 
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We heat with electric, a heat pump backed up by an electrric furnace. In the past that was considered an expensive way to go, nowadays I'm feeling pretty happy about it. Weird how things change.

I remember the oil crisis in the 70's when my parents got a pipeline run on the street and switched to gas. But they say that that will be expensive too this year.
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#7 of 12 Old 09-15-2005, 11:01 PM
 
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ahhhh one thing you dont have to worry about living in Florida
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#8 of 12 Old 09-16-2005, 10:10 AM - Thread Starter
 
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Originally Posted by Melda
ahhhh one thing you dont have to worry about living in Florida
Hee hee ... but here we don't have to spray for "palmetto bugs" the size of my index finger. And our house isn't air-conditioned. And our tourists go away when the summer ends. Now they're off to see you!
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#9 of 12 Old 09-16-2005, 10:47 AM
 
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Quote:
Originally Posted by twindaze
We heat with electric, a heat pump backed up by an electrric furnace. In the past that was considered an expensive way to go, nowadays I'm feeling pretty happy about it. Weird how things change.
Think again. The projected hikes in costs for oil, electricity and gas, electricity is the highest. It's going to be hard for everyone this winter.

And we were too late to lock in a price for oil for the winter. They're projecting $457/month for 8 months for a budget plan for us to get oil for heat and propane for the stove and dryer. Not the best year to buy a first home. Fortunately if we find we're using a lot less oil or the price per gallon is cheaper we can ask for an adjustment rather than waiting until May.
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#10 of 12 Old 09-16-2005, 11:52 AM
 
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We locked in on propane at $1.31. Can anyone tell me, with such a huge difference between the price of a gallon of propane vs. oil, do you get more usage out of a gallon of oil than propane? It seems to be such a horrendous price difference.
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#11 of 12 Old 09-16-2005, 11:55 AM
 
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Originally Posted by tayndrewsmama
We locked in on propane at $1.31. Can anyone tell me, with such a huge difference between the price of a gallon of propane vs. oil, do you get more usage out of a gallon of oil than propane? It seems to be such a horrendous price difference.
No idea but propane here is $2.60 and heating oil is $2.40. I guess it depends on good old supply and demand.
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#12 of 12 Old 09-16-2005, 12:01 PM
 
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Originally Posted by lisalou
No idea but propane here is $2.60 and heating oil is $2.40. I guess it depends on good old supply and demand.
Eeek! That's so high! My brother is gonna feel it hard this year. He didn't pay for the pre-pay because he said he other things to spend his money on. I tried to tell him last year to save up some money for this, but he didn't believe me. I feel really bad for him, because I know he can't afford the prices at the rate they are going up. I have never heard of help for people who can't afford propane or oil, only those on natural gas.
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