2022-2023 Heating Oil Pre-buy

[tummyman]

Last year's pre-buy (Oct'21-May'22) with Irving (The Fuel Club) was $2.749

This year's Irving pre-buy "offer" price (The Fuel Club) is $5.299

Was wondering what other oil companies are offering for the upcoming season. I could always switch oil companies, so I am fishing for the best deal. Has anyone ever experienced the oil companies revising their pre-buys? Is this too early to "jump" in????

[Garcia]

Being in MA in the winter I don’t have advise on what to do here. For me, I am pretty sure this will be year of paying market price at time of fill up. I think prices will head down and pre but will be more expensive rather than less.

Curious as to what others think.

Also, pre buy from my long time oil company is 5.4999 - ouch!

[LikeLakes]

I don't have a crystal ball, but if it was me I would not pre-buy.

[Descant]

Don't know if it is still true, but I recall hearing of programs that set a max price and if the price went down, you got the lowr price. I'd chec k out "Our Town Energy Alliance". 8000 members, operating since 1999, other discount programs from members. I know folks who drain the pipes and let the house go cold same as we do at camp, and go south for the winter.

[John Mercier]

It is called Pre-buy with Downside Protection.

I haven't gotten my numbers yet from Stafford, so I can't comment on price.

If we hit a deep demand destruction, that downside protection may be worth it depending on the cost per gallon.

The Pre-Buy also protects should a refinery go down later this year... as it locks in a maximum price.

[wingnuts]

Last year I switched to Heatable and saved a ton of money. They were consistently 25-40 cents per gallon below Stafford and Dutile Oil. Today's price is $5.32 even, minimum 100 gallons. Today's prices for Stafford and Dutile is $5.799 (which is realistically $5.80). That's almost 50 cents per gallon.
Pay by credit card and get points or cash back depending on your card. They are super reliable and tell you when they are coming to deliver. No, I'm not on commission for them!! They are subsidiary of Dead River.
The downside: They do not do service; only oil delivery. I get my furnace tuned up in the fall by an independent service company (that I had replace my furnace years ago). Not sure but I don't think they do pre-buys...

[Wentworth06]

Just saw that Citibank predicts 60.00 barrel oil if recession hits. I m not pre buying this year.

[marinewife]

We get our propane from Eastern- this year's price is set to start on September first, and it is 50 cents higher than last year. We belong to Our Town Alliance which supposedly keeps the price lower.

I think we paid $2.16/gal, now going up to $2.66. I get a 5% discount for paying the cost of the fill-up within a week of the truck coming.

I believe the woman told me that oil was in the $5.00 and change range. I'm sure a phone call to Eastern will give you the exact price. Good luck!

[winniwannabe]

In MA I have used Petro Oil for a few years. I always sign up for the
2 yr. plan, and these past 2 years worked out great. I locked in at $3.29
per gallon , and they always give the lower rate. My plan renews in Oct.
but I will go w/ the 2 year plan. Unless it's a crazy plan.

[John Mercier]

Originally Posted by Wentworth06

Just saw that Citibank predicts 60.00 barrel oil if recession hits. I m not pre buying this year.

Heating Oil future contracts for winter are about 30 cents cheaper than current.

[upthesaukee]

Don't pre buy but take the money you would spend monthly to buy the fuel and put it away or place it in a savings account. Some dealers have a net10 pricing and you can get your delivery and pay the net 10 price (a very small discount, but still a discount). That's what we have done in lieu of a pre buy.

Dave