Locking in on a gas rate?

[mtemm]

I got a letter from our gas company that we have the option this year to lock in on a gas price until april. the rate is $1.29, and would stay that way all winter if we lock in on it. Currently the regular rate is $1.19, which is better, but could go up this winter. So basically we have to weigh whether we think it will go up, at least beyong $1.29, or if it will hold steady (or even drop). if it goes up and you have locked in, you don't owe any more...but then again, if the price doesn't go up, or if it drops, you don't get the money back, either.

is anyone planning on locking in on a price? Right now I am leaning toward not locking in, but haven't made my final decision.

 

[mudnuri]

well, here in Vermont, we use fuel oil, but I do not know of ANYONE who did not either pre-buy or do price lock. Nobody that I know goes with the market cash price for fuel!...

Think of it as this- right now its 1.19, BUT production was just cut, so how long do you think before its 1.50???

Brandy

 

[mtemm]

hadn't heard that it was just cut. hmmm...maybe will rethink it.

anyone else with an opinion?

 

[Stitchfans]

Someone from our Gas co came to our door and said that it was going to be raised 20% this winter, but we qualified to lock in at $1.19 for 5 years. Said that only 60% of the customers qualified.

I read everything over and it looked legit, sure hope I didn't sign something that in the long run will hurt us.