Does the thought of Winter and your home heating oil bill send you into a panic? You aren’t alone, but there is a solution that can help ease the sting and avoid the rollercoaster rate ride! It’s a Price Protection Plan, and it’s a great way to plan and save a few bucks.
At Baribault Fuel we understand that not all our customers have the same needs, so we offer 2 different Price Protection Plans as well as a Budget Plan. Each one has its own benefits.
A Price Protection Plan. Also known as a Pre-buy Plan. This plan is great for customers who want to have a set price per gallon and not have to worry about spikes or jumps in pricing. You lock in your rate early in the season and pay a fixed price for a set number of gallons of fuel. This is a great option if you have an idea of how many gallons you use per year and can lock in those gallons at the set price point. It takes the surprise and worry element out of your utility bill! We offer 2 convenient payment options: a 3-payment plan which accepts credit cards or a 1-time payment via cash or check.
By using a pre-pay protection plan, you can lock in a minimum of 500 gallons at a set rate. We suggest looking at past Winter usage, so you can determine an estimated number of gallons needed for the current Winter season. What happens if you under or over buy? If you under buy, you simply pay the new retail price for any extra oil needed. If you over buy, at the end of the contract, any credit balance for unused gallons can be applied to future deliveries at the retail price at the time of delivery or it can be applied to next year’s price program. Simple and efficient!
A Budget Plan. This is a great option if you prefer your heating costs divided out over the course of 12 months vs. paying larger bills in the Winter and smaller ones in the offseason. You pay the same amount into your account each month, prior to the start of the heating season. This plan typically starts in the Summer. The price of fuel is calculated at the time of delivery, you do not lock in a specific rate when using this plan. You finish paying off the year in the following Spring. Ideal for customers who like having a set budget and bills each month.
It’s important to make sure that no matter what pricing program you choose, you understand the terms and conditions before signing a contract. Pricing programs are specific to only one address and can’t be split between multiple properties, however, they are typically transferable to a new homeowner should you move in the middle of the program.
Your heating fuel purchase decisions should be based on your personal situation, and whichever option makes you feel most comfortable. When you purchase price protection, you should make that decision based not just on what could happen to prices, or on the actual fixed or capped price that different companies offer, but also on the integrity and reputation of the oil dealer. Over the years, some companies have gone out of business after making very attractive price protection offers. The decision about which dealer you use to protect your oil price is even more important than which plan you choose.
Want more information on our Pricing Plans – CLICK HERE or give us a call at 860.274.3284.
