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Tool Talk Discussion Forum

OT- Locking in heating fuel price

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diggerdave

08-31-2005 13:34:50




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Hi all got a question hope you can help put to rest.. how safe or guaranteed are the typical homeower heating fuel contracts that people enter into witht their supplier? (gas or oil) I understand they have a small print clause that allows them to cancel under certain conditions etc. Anyone have thoughts on this? thanks




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Dug

08-31-2005 19:34:10




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 Re: OT- Locking in heating fuel price in reply to diggerdave, 08-31-2005 13:34:50  
Just locked into a contract for 800 gallons of LP this afternoon. Prepaid. I'll have to look at the contract in closer detail, but my understanding is they lock into a price and sell accordingly.

If push comes to shove, I'll cut more wood and to heck with em!

Dug



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Midwest redneck

08-31-2005 16:08:19




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 Re: OT- Locking in heating fuel price in reply to diggerdave, 08-31-2005 13:34:50  
I remember a few years ago my old supplier telling me that an agreement is made by the retailer to buy "x" million gallons of Propane and then they are set to it, he even said that in years past if the price dropped below the prebuy price during the winter the homeowner got a refund, or more propane. That sure isnt going to happen now.



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havvey

08-31-2005 14:54:16




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 Re: OT- Locking in heating fuel price in reply to diggerdave, 08-31-2005 13:34:50  
I never could figure out how they could do it and then honor it if the price double.



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mike brown

08-31-2005 16:46:07




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 Re: OT- Locking in heating fuel price in reply to havvey, 08-31-2005 14:54:16  
I think they did it by locking in a price for x amount on the futures market. I used to prebuy at a guaranteed price and it always worked out well. This year there are no such programs from my usual supplier. I guess they hold all the cards and don't have to deal.



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txgrn

09-01-2005 05:30:28




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 Re: OT- Locking in heating fuel price in reply to mike brown, 08-31-2005 16:46:07  
I have Propane locked to $1.49 till Sept 15.
Mark



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