Oil contract with price cap

I have a contract with General with a cap price of $2.84/gal. I've had oil delivered 4 times since my contract started last spring and they always charge me the cap price. I was told if oil was lower, they would give me the lower price. Am I getting a good deal or is oil lower right now and they are scamming? I just can't imagine that every time I got a delivery over the past almost year, the price was never below my cap

Re: Oil contract with price cap

We did the same thing and we've paid the cap price every single time. Oil just keeps going up and up. I think our next contract we're going to lock in a rate instead.

Re: Oil contract with price cap

i'm not familiar with General but i can tell you what i paid with Petro over the last year. Right around Jan of 2010, the price jumped over $3/gallon. Prices dropped again in December 2010 and i got a delivery at $2.99.

if you are curious, you can always call the company and act like you are a new customer pricing around and find out the current price.