Oil prices

I noticed on another post that a lot of people pay different prices for oil. Why is that? Does it depend on the size of your tank and your house? I heard something about locking in at a rate...is that what you do when you buy oil? TIA I am new to all this.

Re: Oil prices

C.O.D is the cheapest but you don't get the "free service contract". It's never free, they actually charge you a bit more per gallon to make up for the exepense of the service calls. With C.O.D. the more you order, the greater the discount. We will be continuing with C.O.D. next year because we have a brand new system, we will get a cleaning and service contract through Slomins but not oil. The other downside is that you must monitor your own tank and call the company when you need a delivery

There are also consumer groups that you can join that buy oil collectively and thus get a huge discount. For example, 1-800-OIL-HEAT is usually about 30 to 40 cents cheaper per gallon. You get a local company that grants you the discount, auto delivery and service.

All companies do charge different amounts. Petro is known for being, usuallly, the most expensive.

Re: Oil prices

It all depends on when people are locking in.

Message edited 5/31/2006 8:16:43 PM.

Re: Oil prices

When I rented a house we had an oil tank. We locked in at a rate with Meenan Oil. Some people pay less bc they lock in at a lower rate than others. I would def. recommend shopping around before locking into a rate --- call all of the oil companies!!

I never did the COD so I don't know how that works...but I do know that it was a BEEOTCH when we ran out of oil and had to wait for them to come and fill us up.

Re: Oil prices

I would also recommend that you get a CAPPED price. What that means is let's say you are locked in at a cap price of 3.00 and the oil prices happen to drop below 3.00 to 2.89, then you will pay 2.89. With a locked-in price, the oil prices could fall below your locked-in price of 3.00 but no matter what, you still pay 3.00.