Heating Oil Costs - Worth it to NOT lock in??

I see a lot of people are now locking in at over $2.80 a gallon.

I went on priceenergy.com... and I was able to get a quote for $2.39 a gallon for an oil delivery of more than 130 gallons. I also heard that BJs members get the oil even cheaper. Thats not too bad a deal and beats the hell out of locking in at 2.80+.

Anyone here NOT locking in? Is there any way to get a service contract with an oil company and not get fuel from them?

If I decide to go out and get the oil myself... i would need someone else to maintain my furnace.

Re: Heating Oil Costs - Worth it to NOT lock in??

I didnt lock in. I do have a service contract with my oil co though. Maybe I can have my brothers friend come top it off for us at 2.20 a gal and let my oil co think Im just not keeping the house too warm

Re: Heating Oil Costs - Worth it to NOT lock in??

we locked in may when the prices were A LOT cheaper. if i were you, i would wait. from what i have heard, prices are going to drop soon. most companies offer incentives (w/ a signed contract) for new customers. make sure you ask about new customer incentive programs.

Message edited 10/19/2005 1:15:29 PM.

Re: Heating Oil Costs - Worth it to NOT lock in??

When the Slomin's guy came to service my burner he said that if you are handy and know how to fix burners, hot water heaters, etc. it's not worth it to lock in with the contracts. But, if you are like us and know very little about it, it totally pays cuz to call someone to fix something in an emergency is going to end up running 100's of dollars.
Obviously he did the COD thing and doesn't lock in.

Re: Heating Oil Costs - Worth it to NOT lock in??

We didnt lock in... when we tried, they told us they were NOT locking anyone else in due to the high prices.

Re: Heating Oil Costs - Worth it to NOT lock in??

So if i can get a cheap rate for oil somewhere else... i guess I should initially fill up when I move in.

Then I can schedule a few of the local carriers to come out and give me their sales pitch and i'll see.

But I probably will just go with a service contract only if i can get a decent price on oil by not locking in.

Re: Heating Oil Costs - Worth it to NOT lock in??

how much oil is in the tank now?

i would get a contract sometime soon. shop around compare prices and ask for new customer incentives. the LAST thing you want to deal w/ is a broken sytem in the dead of winter and strapped to find someone to service it.

Re: Heating Oil Costs - Worth it to NOT lock in??

I wont know until I close on the house. Probably in another month.

I will definitely be getting a service contract on the furnace. I just haven't decided yet where I am going to get my oil from.

If I don't have to pay $2.89 or whatever it is now a gallon... i am not going to do so.

Re: Heating Oil Costs - Worth it to NOT lock in??

I know what you mean. I just started looking into oil companies.

Does anyone have a link where all the numbers are listed so I can compare prices?

TIA

Re: Heating Oil Costs - Worth it to NOT lock in??

Hmmm I can't find anything about BJ's offering home heating oil...can you provide that link too?? TIA!

Re: Heating Oil Costs - Worth it to NOT lock in??

We decided not to lock in. One of the industries DH covers is oil and he feels like it's going to go down, so since he told the traders to go that way, he decided we should do the same at home. We get our oil from the same company that services our furnace.

Re: Heating Oil Costs - Worth it to NOT lock in??

Re: Heating Oil Costs - Worth it to NOT lock in??

Thanks so much!!!