Home heating Oil, time to lock in? Or not?

Curious what others are thinking on the home heating oil front, as crude makes another new low.

Is it time to lock in for x amt of gallons, or for 1 year, or is it too early?  Last year I locked in at the wrong price.  

thoughts?

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Permalink Reply by paleface on August 13, 2015 at 5:12am

It looks like average now is about $1.75 a gallon.I'm gonna buy now,price can jump up fast but drop slowly.

Permalink Reply by Frank Walker on August 13, 2015 at 5:20am

I have sufficient tank capacity to go through the winter.  So far I have done one buy of  the minimum purchase quantity allowed.  If the price falls I will do another such buy.  Hedging my bets.

Along with watching crude price I also watch heating oil futures.  You can find both prices, along with the NG price, here:

Prices

Permalink Reply by paleface on August 13, 2015 at 12:45pm

I only have one 275 gallon tank at the house but if prices go much lower I could see buying another tank for storage.Might not use any firewood this year.

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