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VHeat Update February 2011

Did locking in your home heating fuel price save you money so far this heating season?

Today’s retail market fuel prices are rising, we are seeing #2 heating oil prices rise over $3.00/gallon reaching almost $4.00/gallon.

How do today’s retail market fuel prices compare to the VHeat fixed price and rack plus prices? Our VHeat members who chose a fixed price fuel option this season are saving a significant amount of money. The VHeat program was able to offer four fixed price fuel oil options this season:

  • Irving Oil’s fixed price offer was $2.81/gallon.
  • The Energy Co-op’s fixed price offer was $2.79/gallon.
  • Trono offered a pre-buy at $2.64/gallon. After the gallons at that price were sold out a second offer was made available at $2.72/gallon.

Throughout the winter months we analyze the retail market fuel prices for the local fuel dealers in Central Vermont. We use Central Vermont because this is where the majority of our VHeat members reside. We track and document their retail market fuel prices so that we can compare the savings. See below:

Dealer 12/22/2010 1/5/2011 1/13/2011 1/28/2011 2/9/2011
Trono Rack Plus Price $3.14 $3.12 $3.25 $3.26 $3.37
Dealer 1 $3.25 $3.30 $3.35 $3.55 $3.65
Dealer 2 $3.25 $3.29 $3.40 $3.43 $3.63
Dealer 3 $3.35 $3.58 $3.68 $3.65 $3.82
Dealer 4 $3.10 $3.22 $3.30 $3.55 $3.54
Dealer 5 $3.21 $3.47 $3.59 $3.70 $3.60
Dealer 6 $3.04 $3.15 $3.25 $3.35 $3.45
Dealer 7 $3.23 $3.19 $3.25 $3.63 $3.46

Members who chose the Trono Rack Plus Price offer have also saved money compared to the retail market fuel prices listed above.

Check back for end of season reminders and updates on our next VHeat Fuel season. If you have questions or suggestions please email us at fuelbuyers@vsecu.com we would like to hear from you!