Just thought I would share that I just got oil for $1.89 a gallon. I will need another ton of pellets to get me through the season but if the oil stays this low I have no reason to use pellets this year. Pellet companies may be pricing themselves out of the market. I was shopping around and it's impossible to get a decent pellet for under $290 a ton where I live in Mass..... Pellet prices keep going up and oil prices keep going down.
Oil prices dropping
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AccentraRRT
Burning Hunk
Yeah I've been keeping my eye on oil prices.. My delivery guy has been stuck around 1.83/gal for a few weeks now. Can't go wrong if it stays that low all winter.. I am in it for the same 4 ton I burned last year but if oil is this cheap, I will burn more oil and just have left over pellets for next winter
Bioburner
Moderator
I am trying to figure out why the gas prices are going up in my area. 10 cents this week.
Ditto - I do like the stove so I'll continue to burn, but may turn the t-stat on for the oil burner at wakeup time and keep the feed rate on the stove a little lower with oil prices this low.
Wisneaky
Minister of Fire
Oil furnace with a 85% efficiency would be 67,415 btu per $1 spent @$1.89 a gallon and LP furnace at 92% efficiency would be 75,739 btu per $1 spent @.89 a gallon. It will still be cheaper to use LP at those prices as you would be getting around 8,000 more btus per $1 spent. Plus you'd have the cost of buying and installing the oil furnace.At that price for oil, I should just rip out my 92% LP furnace, and install an oil burner.....Definitely wouldn't be burning pellets!!
Wisneaky
Minister of Fire
Thankfully, we only use between 100-130/gal a year. 95% of it for the dryer and water heater.
Wisneaky
Minister of Fire
Husky
Feeling the Heat
Jason845845
Feeling the Heat
I planned on burning a lot less pellets and a lot more oil this year, but after turning the stove on I remembered how much I like having the thing running. I guess I should go buy another ton.
killie11
Member
AccentraRRT
Burning Hunk
Yeah same here.. I used about 150 gallons of oil last year mainly sue to the beginning of the season with late pellet delivery to the long cold season of keeping the chill out of the house in the cold mornings
Gas is around between 1.97 and 2.10/gal around me. But has continues to drop and oil has been the same for a few weeks
Gas is around between 1.97 and 2.10/gal around me. But has continues to drop and oil has been the same for a few weeks
Bioburner
Moderator
mass_burner
Minister of Fire
I need to fill up, have 1/4 tank, but waiting for a severe dip. Will the Saudi squeeze be more painful in the colder months on frackers/non OPEC producers?
I have a tank full of $2.82 oil and 6+ tons of $280 pellets, both for boilers, so the heat is similar. If both fuels were bought now, it would be cheaper to burn oil. So, do I base the fuel choice on what the original cost of the fuels were, or the current replacement cost? I imagine oil will go up during the winter as well.
Ctcarl
Feeling the Heat
Put the oil on last night to get the chill out.Going to be using more oil than pelletes at these prices .
mass_burner
Minister of Fire
Original cost if you can. You can always buy oil at current price by using etc, uhn or similar.
Phoenix Hatchling
Minister of Fire
Ah...no. Price at current rate. Can't forecast for a commodity and predict upside.
mass_burner
Minister of Fire
I think we're saying the same thing in different ways. If he can buy non oil fuel cheaper at current oil, he should do it.
You can forecast commodity prices, airlines do it all the time. I wish I had a dime for everytime I read someone writing on here that oil will 'probably ", " most likely " go up again. Is that not forecasting?
And I threw my own forecast in saying that oil would likely go up in the winter, like it always used to in the past. Thing is, the commodities are being used slowly, thank goodness, lol.
Phoenix Hatchling
Minister of Fire
My apologies. Meaning to say forecast out with certainty. Much like a company stock with 'upside' potential, their is no guarantee and your investment may lose money. I know what you mean, and yes, we are both trying to articulate the same thing.
mass_burner
Minister of Fire
Agreed, there is no certainty, that's why I don't buy individual stocks. But heating oil is something a lot of folks need, including me. So like an airline, I can hedge againe future higher prices by buying at today's lower prices. I can buy in lots to keep my powder dry in case it goes lower.
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