Just bought home heating oil for winter ... I could kick myself!

[HamdenRice]

The receptionist said that the price is $2.56 per gallon. It went up 12 cents since yesterday. I should have bought in July.

Am I panic buying, wasting money because the price will fall after people come to their senses? Or did I lock in the last below $3 gallon I'll find this year.

BTW, my tank was empty and holds about 250 gallons, so this was a big chunk of change.

[meganmonkey]

1. Well, I would think you did the right thing

I don't think it's going to get any better for awhile, based on what I've read...

:shrug:

[frankly_fedup2]

13. Well, we have a 500 gallon tank and that would be about $1500.00

and that does not take care of the whole winter.

We have a wood furnace that my husband hooked up years ago but we have never used. This year might be the year to use it. I am not paying $1500.00 for one tank of oil. It's not right and sure as heck shouldn't be legal.

Bush is suppose to open the National Reserve to help as well as some think they may take all the taxes off of a barrel of oil or a gallon of gas. Once they do that, (if I should say), I'll buy our oil then.

I started to buy it last spring and could kick myself that I didn't. I kept putting it off, but the price kept going and going and going. Now I feel I have missed my chance to get any affordable oil.

Now with this horrible disaster, who knows what is going to happen.

I know how you feel though. I've been going through it for months.

[HamdenRice]

14. I'm finally going to have my fireplace cleaned and inspected ...

and have a glass front installed, although I'm not sure that's cost effective. Just a back up in case things get really bad.

I remember the 70s, and I have this sinking feeling that the prices just are not going to go down for a long time, if ever.

Gas lines--ugh! I smell panic.

[Nicholas D Wolfwood]

2. No, the price is NOT going down.

[phantom power]

3. I think you were right to buy now.

But prediction is always hard, especially about the future.

[livetohike]

4. Congratulate yourself for buying today

I don't think the price is going down any time soon.

[Wickerman]

5. I heard a guy on the radio today who said home heating costs

are going to stay up all winter so yeah, should've bought in July, but you surely bought lower than it will eventually go.

[LynzM]

6. My guess is you did the right thing

It will be a long time before prices come down, if ever. They have to rebuild/repair a LOT of stuff to even get us back to where we were before this storm.

[Massacure]

7. Shoulda bought it last Friday. Its gone up 30 cents in the last 48 hours.

Wholesale went from $1.80 to $2.10.

[HamdenRice]

11. Holy sh*t -- gonna be a cold winter nt

[aden_nak]

8. Hell, if you can buy up for the next 20 years, do it.

That price will never drop any significant amount. But it sure as hell will go up.

[HamdenRice]

9. I guess you're right REMINDER to COLD CLIMATE buddies ...

better buy your home heating oil now.

I was wondering whether I can buy even more and have the fuel oil company hold it for me -- kind of pre pay?

[RummyTheDummy]

10. You did the right thing....

But if you can afford it, perhaps think about investing in something more efficient for following winter.

[HamdenRice]

12. Morally, did I do wrong by contributing to panic buying? nt