Oil companies/which to call/what to ask

This is my first time dealing with oil and to say in confused is a understatement

We have decided we want a one year contract

So now I just call a bunch of companies and see who has the lowest price?

Any recommendations on who to call?

Then they just come fill the tank? This is the the time to call right?

Then billing is paid that day or I get a bill in mail?

Thanks. Sorry so many questions

Oil companies/which to call/what to ask

We used perillo for 4 out of the 5 years we have been here. Petro for the other.

Just call around for prices and neg with them. Dont settle on the first price.

When you get a delivery they will put a slip in your mailbox and then send you a bill

Re: Oil companies/which to call/what to ask

We just did that, fellow Queens transplants lol... We got quotes from a few companies and wanted to go with the same company for oil and home alarm. We got a really good price for oil from Slomins so we went with them. They make you get an oil service contract with them but so did the other companies. I got them to take the cost of the contract off my alarm cost because I didn't want to pay that. We also did a balanced monthly billing plan so I don't get hit with a huge monthly bill in the winter months.

ETA: We called Slomins, Meenan and got mailings with quotes from some other companies (Petro and some other company). We did a fixed rate for a year because even the "cap" rate option offered by Meenan was higher and it was unlikely it would really go down anyway thoughout the year.

Message edited 9/22/2014 8:58:20 AM.

Oil companies/which to call/what to ask

we've used slomins and meenan.

They basically offer the same price the first time around, but the one you are with will be higher the 2nd time around- then you call around again to get your rates lowered.
the service contracts are about the same- $99 to $129 a year- this is over & above any deliveries. but DEFINITELY worth it! It includes a 1x per year cleaning once the busy season is over.
They want you to fill the tank within 30 days or so of signing, but won't come the next day usually (takes a few days to get set up). Now is usually better than waiting, because the rates are based on current prices plus their expectations for the coming year. usually you are bound to buy about 500-600 gal per year (which is low even for a small house) to make sure you dont buy around them if prices drop. They figure out when to automatically delivered based on the temps outside and history (if you dont have history with them you should keep an eye out in case you get low).

ETA- each company will have a few different options, i've always found that the contract rate (vs cap rates, etc) works out easiest for me.

Slomins is a pain with customer service- and balanced billing only starts in june so basically if you start at any other time it's pay as you go (I usually wait 3 weeks to pay, then pay with a credit card to extend it as much as possible without paying interest lol)

Meenan is easier to deal with for regular service calls and their balance billing starts whenever you want.

Message edited 9/22/2014 9:38:31 AM.

Re: Oil companies/which to call/what to ask

I worked for an oil company for years, so I'll do my best to give you the low-down.

Most of the bigger companies (Petro, Meenan, Slomins, etc.) are on par with one another. All offer the same services. 24/7 emergency service, installation of new equipment, etc. All offer fixed price, cap price and floating price options. All offer service contracts. These companies will set up automatic delivery for you, meaning they come when they think you need oil. During the winter, that could be every 3-4 weeks. Depends on the size of your tank and the weather conditions (they have software that tracks your usage). The first year you are with a new company, they tend to deliver more times since they need to monitor your usage and then they adjust it over time.

As an oil-heat customer, I sign a one year agreement. I have always went with the fixed price (meaning you pay the same price per gallon for the duration of your contract). Companies also offer a cap price (meaning you won't pay above a certain price per gallon). You could also pay the going price at the time of delivery (not recommended since the price of oil fluctuates throughout the year). I also get a service contract and these vary based on the equipment you currently have and the number of zones you have and how much coverage you want. There are basic plans and then add-ons to the plan if you want more coverage. The more coverage you want, the higher the plan. Some companies may offer a free service contract, but many seem to be steering away from this now.

Typically, the best time to lock-in with an oil price is late summer/early fall. Most oil companies purchase their oil for the season at this time from their suppliers and it tends to be slightly lower. The colder it gets, demand is higher and prices could and usually do go up.

The best thing to do is call the companies and ask for exactly the same thing so you can compare apples to apples. Go with whoever gives you the best price. Basically they are all the same. You can also check out some smaller companies to see what they offer. I've always gone with one of the bigger boys. Just my preference.

My neighbor goes with a COD company (cash on demand) and has to call for her deliveries and then has to pay for service calls when she needs it. COD companies tend to be cheaper per gallon than the full service companies, but honestly I have no experience with this area.

If you are a new homeowner, mention it - sometimes they have offers for new homeowners. Also, everything is negotiable - it can't hurt to ask. Also, check with your neighbors to see who they have - most of the bigger companies have referral programs, so if your neighbor refers you, you and your neighbor can receive an incentive.

Good luck!