Heating Oil $$ Predictions?
 

My wife and I just "locked-in" for 1,000 gallons of #2 home heating oil at a cost of $2.49/gallon.

Any thoughts on this move?

Where do you people think the price of heating oil will go this winter?

I realize this generally only applies to those of us who live in the North, but the cost of heating oil has held my attention since this summer when I began to research the cost of heating for the approaching winter.

Can't wait for your thoughts.

I don't have an opionion about where the price might go but......I am curious as heating a home is an abstract idea. How many gallons will you use in a typical winter?

I heat with nat gas, but I heard on the radio this morning here in NJ, they expect the price to rise to as high as 2.98 a gallon for heating oil. :eek:

You may be a winner if it's a cold winter in Sudbury.
BTW, what happens when the 1,000 gallons are consumed if it's a particularly brutal winter. Market rate I assume?

I keep my thermo at 65/66 in the winter. Single and not home much in the winter months.

edit:
You seem to be right in line with predicted prices.
Check this link out.
http://www.eia.doe.gov/emeu/steo/pub/contents.html

I shudder to think what natural gas will cost this winter. I'm hoping for global warming this winter.

[QUOTE=dynalow;1630116]
BTW, what happens when the 1,000 gallons are consumed if it's a particularly brutal winter. Market rate I assume?[QUOTE]

Correct, market rate.

Our house is gas, gas is expensive, and oil is expensive, your damned either way.

See link at my post #3 ..edited

It really is such a crap shoot, some years you make out well by locking in. Others you get screwed.

Right now I have gas heat and hot water, but the furnace and HWH are easily 30 yo. When the day comes I might look into one of those high efficiency combo oil furnace/HWH units. Then once the price of diesel...opps HHO :P...drops I'll stock up.

I am putting a wood burning insert in our fireplace this year and we'll see if it makes a difference. I've got access to a lot of cheap/free hardwood so that does help a lot. As it sits I don't really have a room that I could put a free-standing woodstove in, otherwise I would. I grew up in a house that heated primarily with wood (my father justified his marine fuel purchases to my mother by doing so :)) so I know all too well what's involved.

I have a friend who heats his 5000 sq ft house with one wood-burning stove. He lives on top of a mountains in VA.

I pre-purchased 500 gal of oil @ $2.49 also. I've always come out ahead when I have pre-purchased.
I use a wood stove for supplimental heat and probably save myself 200-300 gallons of oil.

Probably a good move. Last year was pretty bad because winter started very mild and suddenly got cold. Everyone ran low on oil at the same time. We were probably down to 1 gallon in the tank and it started to snow, when the oil truck finally showed up. :rolleyes: Not the kind of excitement I need.

It is predicted to top $3.00 this year. Good move to lock in.

Concur.