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How to Get the Best Prices for Your Home Heating Oil

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Figuring out how to find the heating oil best price is a priority for anyone living in a cold state, mainly when you don't have a backup wood stove. With the current price home heating oil going up regularly and local heating oil companies pricing within pennies of each other, it's difficult to find a bargain. Therefore, it's essential to start early.

Lock in Your Prices

When you start early, before the cold weather hits, that's when you can price heating oil at its cheapest. Look for a heating oil company that's local to you when you're trying to figure out where to buy heating oil. If their prices are too high, then start looking at companies a bit further away. Don't look too far away, though, or you'll experience delivery fees. When you find a price you're happy with, ask the company if you can lock in the price heating oil today. Under most circumstances, the company will allow you to do so if you pre-purchase a certain amount of gallons or set up automatic delivery. The guidelines for locking in or "capping" vary from one home heating oil to the next.

Budget Plans

For those who are unsure what they can afford each month, many oil companies offer budget plans. They'll deliver oil each month for a set amount. If you use more than the budgeted amount, they'll charge you the difference at the end of the year. If you use less, then the surplus of your budget will roll over toward the next year. Keep in mind that some contracts don't allow for the surplus to roll over and you'll simply lose those funds.

Do Your Homework

What's the best option for you? Should you pre-pay or use a budget plan? The best way to figure this out is to research the cost of oil during previous years. For example, if you live in Connecticut, perform a search for heating oil prices in CT today to get the current prices, and then do another for last year's prices. Compare the two to predict what you could be paying going forward. You could do the same if you live in Massachusetts by conducting a search for the price of heating oil in ma and performing the same research. It's essential to look closely at these figures as they may fluctuate and it's expensive if you're caught off-guard by surprises.

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