I posted this on another forum, would love to know what you guys think as well. 
To make my bills a little easier throughout the year, I am in the process of setting up a "budget" plan and service contract with my oil company. This will allow me to pay my heating bill year round in monthly installments, rather then shelling out $800 a fill-up at once during the winter. (Around Christmas time, those random oil-delivery bills hit pretty hard
). Anyways, I have the option of choosing a "lock-in" FIXED price now of $4.75 a gallon for the year, or a "cash-floating" variable price that will obviously fluctuate depending on whether oil keeps going up, or starts going down. Last year, the customers that locked in at $2.65 a gallon made out like BANDITS, because oil just kept going up and up and up.... :bgh:
Just wondering what my fastlane buddies think. Part of me would like to take the risk and hope that heating oil does fall in price, so that Im not paying $4.75 the whole year though matter what. Obviously though, if what the analysts are saying is true (that this is only the beginnning), locking in a fixed rate may be the smart choice...
Anyone have a prediction? I have until Monday to decide and sign the contract, so Im on the fence at this point..
To make my bills a little easier throughout the year, I am in the process of setting up a "budget" plan and service contract with my oil company. This will allow me to pay my heating bill year round in monthly installments, rather then shelling out $800 a fill-up at once during the winter. (Around Christmas time, those random oil-delivery bills hit pretty hard
). Anyways, I have the option of choosing a "lock-in" FIXED price now of $4.75 a gallon for the year, or a "cash-floating" variable price that will obviously fluctuate depending on whether oil keeps going up, or starts going down. Last year, the customers that locked in at $2.65 a gallon made out like BANDITS, because oil just kept going up and up and up.... :bgh: Just wondering what my fastlane buddies think.
Part of me would like to take the risk and hope that heating oil does fall in price, so that Im not paying $4.75 the whole year though matter what. Obviously though, if what the analysts are saying is true (that this is only the beginnning), locking in a fixed rate may be the smart choice...Anyone have a prediction? I have until Monday to decide and sign the contract, so Im on the fence at this point..
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