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.

__________________
1992 500SEL 25K
1995 E320 40K
1995 SL600 120K
2002 JX8 Sport 43K
2005 Volvo S40 95K
2006 Isuzu NPR 304K (Frankencamper)
2007 Crown Victoria 150K
2014 Smart Electric 20K

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?

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(o\|/o)

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.

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.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

[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.

__________________
1992 500SEL 25K
1995 E320 40K
1995 SL600 120K
2002 JX8 Sport 43K
2005 Volvo S40 95K
2006 Isuzu NPR 304K (Frankencamper)
2007 Crown Victoria 150K
2014 Smart Electric 20K

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

__________________
1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

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 ...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.

__________________

1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

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.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

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. Not the kind of excitement I need.

__________________
1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma

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

__________________
1959 Gravely LI, 1963 Gravely L8, 1973 Gravely C12
1982 380SL
1978 450 SEL 6.9 euro restoration at 63% and climbing
1987 300 D
2005 CDI European Delivery
2006 CDI Handed down to daughter
2007 GL CDI. Wifes

Concur.