Opinion on 2011-2012 home heating oil prebuy

[jcarwash]

Been a homeowner for ten years and we have always done a pre-buy for our home heating oil. This year for the first time we are pausing to reconsider.

This year the prebuy price per gallon is $3.69. To purchase downside protection (they will honor lower prices per gallon than $3.69) it is 25 cents per gallon purchased.

I have read one opinion that says unless the prebuy is $3.50 or less, skip the prebuy and just pay as you go. The premise there is that home heating oil will likely stay in the mid 3 dollar range, or drop.

Anyone have predictions about what will happen during the winter of 2011-2012 for home heating oil? Should we just assume it will go up and prebuy? What prebuy offers are you getting?

 

[BSil]

Gas prices have been dropping bit by bit, I assume heating oil will see a price decrease as well. How long do you have to accept the prebuy? Maybe you could hold off until near the end of summer, and see where prices are at. I'd call as many companies as possible and get prebuy prices as well, and then pit them against each other to bargain price if that is possible. I hate the fact that you even have to deal with this issue because we keep making the middle east richer. Someday we'll wake up and drill here.

 

[jcarwash]

We have until Friday, July 15th for the prebuy contract for the company we have been using.

 

[DisneyForLife]

I don't prebuy. I check online for the best price when I need to fill up.
I just looked and the best price right now would be 3.20.
You have to do what you feel comfortable doing, there is no way of knowing what will happen with the prices nowadays. I just know we should not be paying these high prices for oil.

 

[dislal]

Gas prices have been dropping bit by bit, I assume heating oil will see a price decrease as well. How long do you have to accept the prebuy? Maybe you could hold off until near the end of summer, and see where prices are at. I'd call as many companies as possible and get prebuy prices as well, and then pit them against each other to bargain price if that is possible. I hate the fact that you even have to deal with this issue because we keep making the middle east richer. Someday we'll wake up and drill here.

these oil prices make me sick! DH and I bought a big wood burner a few years ago, and we put it in our basement and hooked it into our ductwork! We have saved sooo much money in oil I know we paid for the fireplace the first year. Getting wood is a lot of hard work ( we currently have 6 acres with lots of trees) but so worth it!

Sorry OP I know I did't really help you I just get so upset about oil and gas prices anymore!

 

[ancestry]

We don't ever pre-buy. I've seen way too many people get burned with the pre-buy programs.

We pay cash (actually check on delivery) and use one of the lowest priced companies around that requires you to monitor your own needs instead of using automatic delivery. We call when we need oil and pay them on the spot. That has ALWAYS been cheaper than the pre-buy companies.