Did You PreBuy Your Fuel Oil This Year?

Many of those who heat their homes with fuel oil are seeing a decrease in the cost of heating their homes. This is a pleasant surprise for most. If you are one of those who prebuys your oil in the summer you could be not so pleasantly surprised.

The prebuy is one of the many choices most fuel oil companies offer their customers. This program allows a customer to enter a contract and prebuy their fuel in the summer when prices are typically lower saving money in the winter when fuel costs are usually higher. Well.... that is most years. This year is different. In the past most years customers saved a lot of money by pre-purchasing their oil this year the gamble has gone the other way. Prices of oil have dropped significantly. So this year you may be paying a higher price then those that did not pre-buy.

Most oil companies that offer the prebuy have to turn around and buy the oil for their customer, at the summer price so they are "locked in" to the contract too. The prebuy is a gamble that historically has benefited the consumer this year it has benefited the invester that purchased oil futures.

There are programs that cap the oil price, in which the customer pays a fee to keep the fuel oil price below a particular point that is set by the company and others that offer downside protection so the customer gets the lower price. Most full service companies offer budget programs that allow a monthly payment throughout the year to help spread the heating costs over months.

When purchasing a home it is a great idea to interview oil companies before deciding who you will buy your fuel oil from. Things to consider beside these programs is whether the company is a full service company. If you are not able to maintain your system it is important to find a company that offers 24 hour service.

In Ulster County assistance is offered through Home Energy Assistance Program (HEAP) which is is a Federally funded program that helps low income households pay home energy costs and funds programs for low cost residential weatherization and other energy related home repairs. HEAP is available to low income, TA and SSI households during the heating season (mid-November through April).

For more information

1021 Development Court
Kingston, NY
Phone: 845-334-5045
Hours: 8:00 AM to 5:00 PM Monday-Friday
Applications accepted: 8:00 AM to 11:00 AM Monday-Friday. Emergencies are handled on a daily basis.

A full service family owned and operated fuel oil company that offers all these programs in all of Ulster County is Erichsen's Fuel Service 845 691 8612/Dependable Energy 845 657 8592.

Barbara Carter and Becky Cook

Exit Realty Services

New Paltz NY 12561

Mother/Daughter Team Realtors- Your Ulster County Real Estate Professionals