Home heating oil $ going up......

[imacman]

I just noticed that CODOil.com has raised their price for HHO (150-299 gals.) in my delivery area to $2.49/gal.(I paid $2.19/gal in August)

Well, I guess I start burning mostly pellets now ($2.50 was my ceiling for oil before my pellet stock becomes cheaper to burn)......interesting how this happened when the temp outside went to low 30's. 8-/

 

[mnkywrnch]

Ya know mac I noticed the very same thing oil here was $2.399 now is at $2.549.Cold weather =higher prices,glad I've got choices

 

[minnow]

Why didn't you pre-buy your oil this summer? 99.9% of the time, fuel oil always goes up in the winter.

 

[jtakeman]

Some of my friends locked last year at over $4.00/gallon. Then the price dropped or crashed! I think a few were scared to lock in again this year. Some actually installed 2nd tanks and filled them in the summer when it was real low.

just my 2 as I'm not a fossil burner. fiber is better for ya anyway.

jay

 

[TboneMan]

Crude is pushing close to $78/barrel. That up about $8 in the past couple of weeks.

The speculators will surely want this above $80 before snow flies (and actually sticks to the ground, it is fling here already).

 

[mnkywrnch]

Why didn't you pre-buy your oil this summer? 99.9% of the time, fuel oil always goes up in the winter.

My oil tank is already full,and personally I wasnt planning or burning oil anyway so there was no need to lock in to anything.

 

[Fsappo]

My boss is an oil guy and told me a few days ago we'll be pushing 80 bucks a barrell and then passing it. I guess he may be right.

 

[Panhandler]

Crude is pushing close to $78/barrel. That up about $8 in the past couple of weeks.

The speculators will surely want this above $80 before snow flies (and actually sticks to the ground, it is fling here already).

4.5 inches in State College PA last night. Wow. October 16th.

 

[pelletdude]

I had a guy in the shop this morning - he called his oil dealer for a quote - 2.559 per gal. Then he called me an ordered 3 tons of Dragon Mountain. Picked them this afternoon.

He was waiting to see what oil was going to do. When he showed up he said oil had hit the magic #.

 

[JustWood]

Called for an off road fill up this morning. Quoted anywhere from $2.31-$2.97/gal. What a crock!!

 

[Xena]

Yup yup it's goin up here too.

 

[mark d fellows]

You know, I don't mean to be a smart ass, but Gee, Imagine that! How unexpected. Everyone knows fuel prices are very stable.

On a serious note, I guess the only thing you can count on, is if you buy a winters load of pellets, you have locked in your heating cost if that is what you use to heat your home, as I do.

FYI, I know most of us Pellet Hounds are on the same page, about this. Including you, Macman.

 

[mainegeek]

Prebuys can be risky.... it's basically like buying stocks.

If your oil dealer offers it then you should consider capped programs. These programs allow you to buy oil at a lesser price (if available) but also gauruntees you won't pay more then the cap price.

My oil dealer offers a budget cap program; so I can spread the payment out across 11 months.

The only problem with cap programs is a lot of oil dealers now require an upfront entry fee into the program; it didn't use to be like this but the oil scare from a few years back caused them to make this change....

Even with the pellet stove I still sign up for the budget cap program at my oil dealer.

The pellet stove brought our budget cap payment from $430 a month to $150 a month.... at that rate the stove should pay for itself before the end of this winter....

Also, keep an eye out for group buy programs. These can make a HUGE difference in price per gallon; but keep in mind that if you state you will buy 1000 gallons and you only use 800 gallons then a lot of these programs will still require you to buy the additional 200 gallons you did not use....

 

[yknotcarpentry]

oil went up here in Maine $.20 in the past two days..... .$10 a day....its not gonna stop either I'm sure....

 

[Amaralluis]

Hmmm, Cant we expect to see pellets prices to increase as well so whats the big noise about?
Oh yes you already bought your stock of pellets for the winter.... well guess what?
If you had prepaid oil around the same time that you got your pellets you would paid less as well! Oil was around $2 if I remember correctly.
So whats the noise about again?

 

[mainegeek]

Hmmm, Cant we expect to see pellets prices to increase as well so whats the big noise about?
Oh yes you already bought your stock of pellets for the winter.... well guess what?
If you had prepaid oil around the same time that you got your pellets you would paid less as well! Oil was around $2 if I remember correctly.
So whats the noise about again?

Oil prices are based on the futures market which is controlled by OPEC. Unlikely BUT oil prices could tank well below summer prices. Anyone who pre-bought in this situation could be feeling like they paid too much.

In any case, I don't worry about oil prices (much)...

 

[iceman]

sept 30,- oct 3rd oil was 1.99 now 2.49 they are crooks
that oil that is 78 a barrel isnt even here yet!

 

[imacman]

..... if you buy a winters load of pellets, you have locked in your heating cost if that is what you use to heat your home, as I do.

FYI, I know most of us Pellet Hounds are on the same page, about this. Including you, Macman.

Yep, I'm right there with ya. OINK!

 

[greggo730]

I thought heating oil was supposed to go down according to al the reports on this forum.Super Tankers anchored off the coast with no where to unload?What happened?Or is OPEC cutting back?This Merry Go Round is a pain>





Greg

 

[mainegeek]

I thought heating oil was supposed to go down according to al the reports on this forum.Super Tankers anchored off the coast with no where to unload?What happened?Or is OPEC cutting back?This Merry Go Round is a pain>

Greg, I'm not an expert on the market but I did stay at a Holiday Inn j/k

Actually I worked in the Oil Industry for 4 years... OPEC controls prices; if they want prices to go up then they set the fear of god in the futures market.... guess what? Prices go up. Once they feel they have squeezed enough out of "us" they lower prices again (but it seems never below where the price hike began). In my opinion, the US is WAY to dependent on foreign countries for oil... we got plenty of it here but too many regulations and very little refineries (can count on one hand; most offshore and prone to natural disasters). What good are the US reserves if they are reserved?

 

[mark d fellows]

Hmmm, Cant we expect to see pellets prices to increase as well so whats the big noise about?
Oh yes you already bought your stock of pellets for the winter.... well guess what?
If you had prepaid oil around the same time that you got your pellets you would paid less as well! Oil was around $2 if I remember correctly.
So whats the noise about again?

It's not just prepaid. It is in my shed. It's mine. I thought I had heard stories of Fuel oil going up and people having to pay the difference.

 

[minnow]

Some of my friends locked last year at over $4.00/gallon. Then the price dropped or crashed! I think a few were scared to lock in again this year. Some actually installed 2nd tanks and filled them in the summer when it was real low.

just my 2 as I'm not a fossil burner. fiber is better for ya anyway.

jay

This summer, oil was at the lowest pre-buy price in at least two years. Any one thinking oil was going to drop even lower than that this winter is off their med's. Anyone who has the ability to burn both fuel oil/pellets or natural gas/pellets or propane/pellets should of been doing price comparisons in July and August. 99% of the time, fuel oil, propane and natural gas and pellets do NOT drop in price over the dead of winter. Although it will be interesting to see if this is the year that pellets do drop from the all-time off season high ($300 + per ton).

 

[Romy]

Yea, my local oil Guy jumped up 15 cents in the last week. Pellets seem to keep going up too though.

 

[rowerwet]

my parents called their oil dealer to do a prebuy and were told don't bother, the oil price is expected to go lower and they (townsend oil) were expecting the oil market to have a glut this winter! WISHFUL THINKING?

 

[minnow]

my parents called their oil dealer to do a prebuy and were told don't bother, the oil price is expected to go lower and they (townsend oil) were expecting the oil market to have a glut this winter! WISHFUL THINKING?

With prices rising and falling on a daily basis, whose to know what the price will be when your parents need oil ? Could be lower (Very doubtful) and could be higher. I doubt that a person at the local retail level has any insight what-so-ever on what prices will be next week much less three months from now.