Oil tank filled tomorrow...........

[MCPO]

........I wanted to wait till the pending Iran and Greek issues are settled but any potential drop in oil prices will follow slowly anyway so I`m at $2.28 gal price right now.
I`m burning approx. 300 gals yearly for hot water and occasional heat to the 2nd floor during -0 temps in the winter. Add 5 tons of pellets to that to heat my (2400 sq ft.
I hate to use the oil but at the moment it`s cheaper than the 5 tons of pellets I bought at $299 per ton.
My point now is I was surprised how much the price of oil has fallen since Jan.when I last bought 150 gals to fill the tank..
OH yeah, I`m in Pittsfield Ma where good pellets aren`t ever cheap.

 

[kennyp2339]

I just filled my tank last week @ 2.33 a gal. I figured this was pretty much as cheap as it will get this summer, all it takes is one hurricane in the gulf of mexico or someone farting in the middle east and the price will jump back to 4.00 dollars a gallon again. insanity at its best, right?

 

[velvetfoot]

I'm in same boat. Ordered 2.80 oil for tomorrow. Should take 150 gal to fill tank.
Have to look at numbers before starting up pellet boiler.
On another note, when it starts to be heating season, do you look at what you paid for the fuel (there'll be some more expensive oil in the tank as well), oil and pellets, or do you make the decision on which fuel to run based on what the cost is at the time?

 

[kennyp2339]

I personally don't look at the prices, burning wood is free for me, plus the heat feels better coming from the stove vs baseboards

 

[MCPO]

I'm in same boat. Ordered 2.80 oil for tomorrow. Should take 150 gal to fill tank.
Have to look at numbers before starting up pellet boiler.
On another note, when it starts to be heating season, do you look at what you paid for the fuel (there'll be some more expensive oil in the tank as well), oil and pellets, or do you make the decision on which fuel to run based on what the cost is at the time?

No . I`ll burn the pellets for heat regardless of the price of oil . The oil in the tank HAS to be used to heat my water .
Of course if oil was to stay around the $2.28 a gal price range ,I`d not be buying any more pellets.

 

[billb3]

HHO is currently between $2.049 and $2.49 here.
Put a new 85% efficient triple pass oil boiler and a two coil hot water maker 3 years ago and it sips oil for heat and hot water.

Was hoping to not have to buy any until September to gamble on a late Summer price dip .

 

[Pellet-King]

i'd wait a few weeks, oil dropped $4+ a barrel today, be under $2 soon

 

[NHcpa]

HHO is currently between $2.049 and $2.49 here.
Put a new 85% efficient triple pass oil boiler and a two coil hot water maker 3 years ago and it sips oil for heat and hot water.

Was hoping to not have to buy any until September to gamble on a late Summer price dip .

Coil heat within the boiler? If so, it is my understanding that the boiler reaches up to full temp (for full house heating purposes) to reach domestic hot water temp. Not looking for a fight, but I have this type boiler and question the efficiency. In the 80's and 90's, this was the way to go. Not so sure anymore.

 

[Pellet-King]

get rid of your oil fired hot water, get a GE hybrid water heater, there $599 now at lowes and with rebates, which would be free or you can make money

 

[billb3]

Coil heat within the boiler? If so, it is my understanding that the boiler reaches up to full temp (for full house heating purposes) to reach domestic hot water temp. Not looking for a fight, but I have this type boiler and question the efficiency. In the 80's and 90's, this was the way to go. Not so sure anymore.

No, water maker. Separate 80 gallon tank on its own zone.

You have a tankless coil. The boiler comes up to 140ºF or so but that would burn you so on the side of your boiler you should have a mixer valve to bring it down to a safer temp.

I cut my oil consumption in half by replacing my 45 or so year old tankless burner. It used to come on any time someone took a shower.
With the new triple pass cast iron 87% AFUE boiler/burner and storage tank if you take a quick shower it doesn't come on at all. That was before the solar panel was hooked up to it.

A "cheap" quick recovery electric water heater for a family of four typically consumes 400kwh/mo. At 27.5¢/kwh here that would run me $110.00/mo.
A 50 gallon hybrid electric hot water heater would cost about $37.00 /month. 80 gallon is recommended for a family of four in the cold weather here.
At 0.65/0.85 GPH let's say 1 GPH for oil if the boiler comes on three times a day for ten minutes or less each time that's 30 bucks a month for oil. OR less. I bet I'm closer to $20 on just oil.
At current prices. If/when oil goes back up to where it was a year ago and that's looking highly unlikely for a while. I'll stick with oil.

 

[roadking88]

$1.99 over here this morning...

 

[billb3]

Yeah, $1.94 and $1.99 here. Might be an interesting Summer.

 

[velvetfoot]

Just had it filled at 2.80. Hey, it was a lot easier than either wood or pellets.

 

[MCPO]

Electric rates here went up 37% in Jan so even the hybrid water heater is out of the question. I`ve got an efficient Burnham oil furnace with a separately zoned hot water maker already so investing in anything else to save a few more bucks isn`t worth it for me . The return on investment simply isn`t there for me. My wife and I are in our mid 70`s and honestly, I`m beginning to think about getting out from 5 bedrms and 3 baths . The 3 bedrms and a bath upstairs are empty.

 

[Pellet-King]

MCPO I would of have been out of that house long ago, too much for 2 people, get 1 level ranch, screw burning pellets too, price is high, oil and gas are low, our electric went down 4 cents as of july 4th, i just locked in for 4 months at $06.3 cents KWH

 

[English BoB]

Just had it filled at 2.80. Hey, it was a lot easier than either wood or pellets.

Who did you buy from ?

 

[velvetfoot]

Kokosa. http://kokosaoil.com/

 

[English BoB]

Kokosa. http://kokosaoil.com/

Thanks

 

[billb3]

HHO is expensive in NY State compared to here.
http://www.nyserda.ny.gov/Cleantech...e-Heating-Oil/Average-Home-Heating-Oil-Prices

western ma is usually about 50¢ more than here too.

 

[MCPO]

Here it is 2 weeks since I filled at 2.28 gal .Today it`s at 2.14 gal.
If the cost of oil stays low I wonder how it will affect pellet pricing in the northeast?

 

[velvetfoot]

I hear you. It's 2.68 here now.

 

[billb3]

Here it is 2 weeks since I filled at 2.28 gal .Today it`s at 2.14 gal.
If the cost of oil stays low I wonder how it will affect pellet pricing in the northeast?

Transportation costs are supposed to be a fairly large chunk of raw materials cost so this has to improve margins at least a little. Mills can always shut down when/if they start over-producing. But if raw materials are contracted too far in advance there won't be any immediate price savings on the retail end except maybe the big box stores might be able to take advantage with purchasing power the low end pellets. Should be interesting but given all the other influences on bio-mass prices I wouldn't buy an extra warm Winter coat to sit out in the cold waiting for great price drops.

 

[Dsweet]

Got oil this past week 300 gallons at 2.10 a gal will be taking my three tons of pellets early next month that I preordered

 

[MCPO]

It`s down to 2.09 today (Pioneer Oil Co)

 

[velvetfoot]

How can it be so much less, so close? Taxes?