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Heating Oil was at $1.85 a gallon, It's on the rise again!!! $2.09 today http://www.cashoil.com/

Post in 'The Pellet Mill - Pellet and Multifuel Stoves' started by sydney1963, Nov 14, 2008.

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  1. sydney1963

    sydney1963 New Member

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    Loc:
    Windham Maine
    I bought my 3 tons for $234 a pallet back in the spring. I think if it goes below $2.00 I may burn oil and save the pellets for next season.

    http://www.cashoil.com/

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  2. imacman

    imacman Guest

    If your oil gets down to $1.90, the cost per BTU will be about the same for pellets or oil......any lower, and oil is the way to go.
  3. iceman

    iceman Minister of Fire

    Joined:
    Nov 18, 2006
    Messages:
    2,377
    Loc:
    Springfield Ma (western mass)
    2,29 here put 125 gallons in and now don't mind if the furnace kicks in
    but i burn much more wood
  4. Souzafone

    Souzafone Feeling the Heat

    Joined:
    Oct 12, 2007
    Messages:
    305
    Loc:
    Freetown, Massachusetts
    See, a pellet pig would fill up with cheap oil, then keep it and continue to burn pellets. Even if it's cheaper to burn the oil, just how much cheaper is it? I'd be willing to bet pellets will be more stable next year, but I don't think anyone would be surprised now if oil is $5/gal next year. Think of the potential savings if you held that oil for 2 or 3 years. Do you think oil will be this cheap in February after you've burnt off the cheap stuff?
  5. imacman

    imacman Guest

    You DO have a point.......
  6. sydney1963

    sydney1963 New Member

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    Windham Maine
    Really good point.
  7. Xena

    Xena Minister of Fire

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    2,491
    Loc:
    South Shore MA
    It's not that price where I am. My guy is at $2.56
    but was up to $2.74 a few days ago. You can bet
    the prices aren't going to stay as low as that. Not
    where I am anyway. As long as I can remember the
    prices have jolted up when the real cold weather hits.
    Long story short, I'll still be burning pellets.
  8. DiggerJim

    DiggerJim Feeling the Heat

    Joined:
    Jul 29, 2008
    Messages:
    497
    Loc:
    Northcentral Connecticut
    Despite the price of oil futures going down over the past few days, the price of December home heating oil futures was up. The raw feedstock is only one factor in the price of the refined heating oil. I'll bet they're counting on steady demand (or even increasing due to the forecasted cold winter) which is something they can't count on for gasoline anymore (the demand for gasoline has crashed this year).
  9. imacman

    imacman Guest

    I agree Zeta, the price here isn't that low either, but if I have any spare $$ when I think the price has bottomed out, I'm going to fill the tank again....it's gotta be better than the $4.19 my dealer "friend" charged me last fillup.

    Yes, the price usually goes up when the real cold weather hits, but I did notice a trend that shows the price dropping in the middle of January just about every year.....that's when I'm really going to be paying attention.
  10. natnyer

    natnyer Member

    Joined:
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    Loc:
    southeast ny
    I am going to burn pellets until a nuclear power plant or equivalent can supply me with reasonable electric power to heat my house without the need for any foreign oil.However if American oil is available at the same cost I will buy that to support American companies and workers.
  11. MCPO

    MCPO Minister of Fire

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    2,225
    Loc:
    western Ma , close to NY state border
    Actually I`m just as concerned with the availability and price of pellets too.
    Oil came down significantly but pellets didn`t.
    We have to wait and hope.
  12. Shortstuff

    Shortstuff Feeling the Heat

    Joined:
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    461
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    Southeastern MA
    With the price of oil dropping as it is more and more who have opted for alternate fuel will switch back to oil heat which will increase oil demand along with the cold weather and we'll be seeing the natural increase in oil prices. My primary goal is to reduce my own personal use and dependency on foreign oil so I will continue to use my pellet stove. If I used just my oil heat, I'll be needing a fill-up in about 4 weeks, right about the time that fuel oil has gone up considerably once again.

    It'll be just my luck that oil drops below $2.00 a gallon, I use just oil and prices go through the roof again. I'll stick with my pellet stove.

    Steve
  13. trogers

    trogers New Member

    Joined:
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    Loc:
    Southern NH
    An American tale...

    Big Oil: "Come on baby, don't be mad. Look, I lowered my price again...come on back."

    Sheep Consumers: "Well, oil is a few cents less than what I paid for pellets...maybe I'll go back to him"

    Big Oil: "That's right baby, come on back...I love you and I promise to be good"

    Sheep Consumer: "Ok, I guess you are not as bad as I thought...I'll come back"

    Two months later---OPEC cuts production in response to decrease demand.

    Sheep: "I can't believe it...oil went up to $3.50 or $4.00...that bastard, I'm leaving him"

    Big Oil: "You'll be back, sheep...you always come back. I'll lower my price a bit and you'll come running back"

    Sheep (crying): "I'm never ever never coming back to you Big Oil...you have screwed me for the last time! Well, maybe I'll come back if you get back down to $2.50 again..."

    The saga continues.

    Come on people! They will be manipulating the price back up in no time. I'm sticking with pellets out of principle...plus, I use propane ;)
  14. natnyer

    natnyer Member

    Joined:
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    Loc:
    southeast ny
    propane is a byproduct of oil refining and natural gas processing.
  15. trogers

    trogers New Member

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    Southern NH
    My point is that propane is always more expensive thatn oil per btu, so I reaaly don't get excited when the prices drop to $2.00 because I'll never see those savings using propane.
  16. iceman

    iceman Minister of Fire

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    Springfield Ma (western mass)

    oil 2.29 propane 1.69 who woulda imagined that!!
    anyways people you can check http://www.newenglandoil.com/index.asp it covers mass, most of new england for oil prices by area/zip code
  17. Panhandler

    Panhandler Minister of Fire

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    Loc:
    WV Northern Panhandle
    Sounds like the saga of Ike and Tina. "C'mon back Baby, I won't hit you upside the head no more."
  18. schenkp

    schenkp New Member

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    Oil is going back to the 30 - 40 range and WILL remain there for the next few years. WHY because the world economy is broken and its going to get a LOT worse before it gets better. Demand is down because no one has any money to buy good that are manufactured from oil i.e. China economy is worse than ours and the European Union is getting hit worse than us. Oil is going down alot more.

    Dont believe me take a look at all the foreclosure signs in your neighborhood.
  19. whippingwater

    whippingwater New Member

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    According to most fuel calculators, propane would need to be under $1.00 to compete with the price I can buy pellets for. I'll never see prices that low again so it's no contest based on price alone without weighing the other benefits.
  20. MrKLeen

    MrKLeen New Member

    Joined:
    Sep 15, 2008
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    Loc:
    So. NH
    Thats fine with me, and when most of the pellet population switches back to Oil, pellet demand will be lower and the pellet companies will have to lower their price to compete with Oil. I would rather help pay Steve Walker's mortgage and keep a few people in a regular paycheck in my own state, rather than help to finance another palace for another sheik that would just as well see my family and I freeze to death. I will fill my oil tank when I think it is lowest possible price for DHW and backup heat if needed. Not to mention I am a fan of low gas prices and that will help to even everything out anyway.

    This is of course dependent on my stove functioning as well as I hope when it gets really cold up here.
  21. allhandsworking

    allhandsworking Feeling the Heat

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    Loc:
    NYC
    Yeah keep the cash in the US burn wood!
  22. chrisasst

    chrisasst Minister of Fire

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    Loc:
    cortland ny

    exactly, most people in this world don't understand the supply and demand thing. Like my wife "well gas is getting cheap again, I guess I can drive the gas hog again" NO!!!!!
  23. lessoil

    lessoil Minister of Fire

    Joined:
    May 31, 2008
    Messages:
    726
    Loc:
    Rumford, Maine
    Let's see.....
    We bought the pellet stove when oil was $4.85/gal.
    We bought 200 gals for $4.00/gal in July. ($800)
    We spent $1200 for 4 tons of pellets which should get us through the Winter.
    If we burn the $800 worth of oil in the tank then get another 500 gals for $2.00/gal our total cost
    this Winter would be $1800 for oil.

    We will burn pellets for heat and not use the oil other than for hot water!!
    OPEC/Oil companies have lost me as a customer!! (For Heat)
    I just keep telling myself that this was a long term investment and not just for this year.
  24. Jester

    Jester New Member

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    Loc:
    Seacoast Massachusetts

    You couldnt have said it better. Ive got a 50+ year old steam boiler, and it runs for hot water only. In the heavy heating months I was going through a tank every three weeks. Id burn pellets unless the damn oil companies get the hint from Bush and give me a profitsharing check or free oil for getting it tucked to me.
    Besides, who here could even think of saying they'd rather hear thier furnace run than the stove. My 15 month old grabs a book and a blanket every night and sits in front of the stove "reading" after dinner, watching the fire. She'll never sit in front of the radiator doing that!
  25. schenkp

    schenkp New Member

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    NorthEast
    Priceless I love it :)
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