Fuel Prices… Bad News

If you’re thinking about buying heating oil or kerosene in the next few days, keep reading.

Prices are the lowest they have been in years!

Just a short time ago prices were over $150 a barrel for crude and that translated into fuel prices that in some parts of the country hit the $5 mark.

Right now here in CT I can order heating for as low as$2.19 and I paid $1.75 last nite for a gallon of gasoline. Check out www.gasbuddy.com for prices on fuel.

So the fuel prices are bad news for the fuel companies and great news for us consumers.

BUT…

Yes there’s always a but!

For heating oil customers BEWARE.

Many heating oil companies are stuck with higher priced oil and they are looking for ways to dump this high priced oil. In many cases they are a bit shady.

For example, if you’re on a budget and they have promised you that when prices fall that your bill will reflect the lower priced fuel cost I’ve heard many DO NOT reduce the price, take their time in reducing their price or do not lower to the point that they should.

This is no surprise since these guys historically make their money when the prices go down not when the prices go up.

Let me explain. When prices go up there is a real pain at the pump mentality and they try to keep their prices as low and as tight as possible so customers don’t jump ship.

But when the prices come down (meaning their cost comes down) they all seem to take their time reducing their price so they get better margins.

This turns into you hearing that oil prices are going down but when you end up paying for the oil you ordered in most cases these guys stick you and capture a much higher margin that they in my opinion they should.

Stay safe, stay warm and save money,

John

P.S. If you’re like me your always looking for deals…

Here’s one I found for dental insurance…. I had to look. My crown cracked the other day and when I saw the bill I almost fell over. Sure wish I had considered dental insurance before I had that problem.

So have a look

American Dental Plan