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Right time to buy oil?

Lurkin' Murkin'
Lurkin' Murkin' Member Posts: 136
in THE MAIN WALL
Normally, I would have filled my 550 gallon tank by this time of the year - and try to make it through the winter before the next purchase. But with the heating oil prices still dropping, and news articles pointing out that the consumer price decrease isn't matching the crude product decrease trend, is it wise to wait a bit longer? Ideally, it would be good to get the fillup before the price shoots up again - but how to anticipate this, in these times?
Thanks for any insight on this dilemma!

Comments

  • GW
    GW Member Posts: 4,817


    i saw 2.69 today. Maybe you should roll some dice! :)

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    Gary Wilson
    Wilson Services, Inc
    Northampton, MA
    gary@wilsonph.com
  • ChasMan
    ChasMan Member Posts: 462
    One thing..

    One thing I have noticed is that the spread between NYMEX crude and Heating oil has been widening. This is happening in the Gold and Silver markets on COMEX. What it means exactly I don;t know but the paper prices vs the real thing in your tank seem to be diverging. I wouldn't be ashamed to buy at these prces. Perhaps fill it by half and then buy more later if you feel it may drop more.
  • Robert O'Brien
    Robert O'Brien Member Posts: 3,562
    Lurkin

    Not to be rude but if anyone knew this they would be on their yacht in the Caribbean trading futures rather than installing boilers. I'd be very happy with $2.69,beats $4.50 in early July! Crude is more than 50% lower than 3 months ago,do you think it will be halved again in the next 3 months? Possible,but not very likely!

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  • Dry Steam
    Dry Steam Member Posts: 32


    Todays headlines state that ol Hugo boy and and his lacky ahmendijad or whatever, are leading a push to decrease OPEC production and drive prices up so they can afford more palaces and continue to subvert their own population. Unfortunately those are the true futures.
  • World Plumber
    World Plumber Member Posts: 389


    Around here gasoline has dropped but fuel oil hasn't. A few dealers raised their prices last week. Customers with outside tanks are having a hard time getting kerosene. They are being told $4.37 a gallon but there supposedly isn't any available.
  • Ruthe Jubinville_2
    Ruthe Jubinville_2 Member Posts: 674
    Just put oil in my shop yank

    it was 3.65 with .15 discount if paid in 10 days which made it 3.49. was told by driver delivering that the price had started back up the day after I ordered. Lucky move I think. Prepaid house at 4.62. Oh well, it is paid for. felt like heating season has arrived here last night. Ruthe
  • Ruthe Jubinville_2
    Ruthe Jubinville_2 Member Posts: 674
    tank not yank lol

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