Consumers weigh breaking lock-in home...

Consumers weigh breaking lock-in home heating oil contracts

There are 66 comments on the NewsTimes.com story from Oct 29, 2008, titled Consumers weigh breaking lock-in home heating oil contracts. In it, NewsTimes.com reports that:

With oil prices dropping, hundreds of consumers are contacting state Attorney General Richard Blumenthal about getting out of contracted lock-ins with their local oil companies.

Join the discussion below, or Read more at NewsTimes.com.

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Spackle that crack

New Milford, CT

#71 Nov 22, 2008
palace ghost wrote:
Buying your oil by calling around helps only with your per purchase price, but what happens when you need a repair in the middle of the night? You'll be left out in the COLD. It's best to develop a relationship with your oil provider.
Oil company service is not a good idea. Those techs are instructed to set up your heating equipment to run on the rich side, thus burning more oil and costing you more money. Sure they come right away when you have problems, because they don't want you to call a professional boiler repairman. Their service contract cost you $400+. I have a very good heating professional maintain my equipment. He showed me the nozzle size the oil company tech installed was two sizes bigger than the furnace manufacturer recommends. Since I have been using his service my house is nice and warm and my fuel consumption has dropped by almost a tankfull per year. At 330 gal/tank and $2.58 cents a gallon that is about $800.00 in savings. He always comes right away and fixes the problem the first time. I have never had to pay more than $200.00 for a repair, parts included. Usually he just cleans and adjusts and I don't see him again until the following fall.
locked in

Brooklyn, NY

#72 Dec 9, 2008
I locked in at $3.75 per gallon. I have a signed contract that states that it will cost $600.00 to "Buy out" of it. It was a gamble and I`m loosing...for now.
Sometimes you get the bear and sometimes the bear gets you.
Cos

Kingston, PA

#73 Jan 20, 2009
I called to lock in my rate with Slomins on a Sunday at work. Newday had its headline to Lock in Now. On Monday I called to cancel, they took a message and said they would have someone call us back. We finally got some one on Friday and they said we were recorded on line and locked in and if we break the contract we will also have to pay their legal fee's. They said this on the phone but I didn't have really hear it all. But I agree toit verbally. Then I received a contract to sign in the Mail. If the Verbal was binding would I have a hrd copy which I didn't sign? Also, isn't their a time period to void such agreement as with a contractor. We callled the next day. Been a customer for over 20 years not next year.
Bill Truini

Monroe, CT

#74 Jan 24, 2009
oh please wrote:
I broke my contract with Jennings. Was more cost effective and now I am just buying as I need it. In addition, I will never buy from Jennings again. They didn't want to help a long term customer..so now they are out future business from me. Have to look out for yourself in this economy, just like the oil companies have to look out for themselves.
Yea easy to say for the would be crying people who did not lock in because in reality they procrastinated. Pretty funny how most of you really think you were wiser and actually planned not to but in reality you really forgot and waited till the end and would have ended up paying $6.00 a gallon. Well it isn't over yet. You will get yours! Trust me.
Not Locked

United States

#76 Jan 24, 2009
Bill Truini wrote:
<quoted text>
Yea easy to say for the would be crying people who did not lock in because in reality they procrastinated. Pretty funny how most of you really think you were wiser and actually planned not to but in reality you really forgot and waited till the end and would have ended up paying $6.00 a gallon. Well it isn't over yet. You will get yours! Trust me.
Actually, I was flipping through news channels one day last spring and heard a financial analyst say that fuel prices were going to drop at the end of the summer and through the fall. So I didn't lock in. I guess it pays to watch something other than talk shows after work. Sorry so many are getting raked over the coals, but wishing ill on those who didn't lock in is a bit much, wouldn't you say?
NeighborOil dot com

Newport, RI

#77 Oct 29, 2011
So, why are our members paying $2.15 a gallon/?

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