A Lock-In Heating Oil Price: Too Good to Be True? Probably.

Don’t be lured by a lock-in rate.

There are three common types of home heating oil pricing options:  market price, capped price and lock-in heating oil rate.

  • Market price- your heating oil price fluctuates with the market.
  • Locked price-your heating oil price is fixed for an entire season regardless of market price.
  • Capped price– offers the “best of both worlds” because your heating oil price fluctuates with the market but will not exceed your capped price.

When you join capped price program, there are no unpleasant surprises about fuel costs. You will never pay more per gallon than the capped priced you sign up under. If the prices rise above your capped price, you still pay the capped price. And, if the daily market price is below your capped price when you receive a delivery, you will pay the lower price. Having a capped rate is a win-win situation because no matter how the market fluctuates, you always pay the lowest price. This knowledge helps you budget fuel costs and gives you peace of mind.

A lock-in heating oil price is similar to a capped price in that you will not pay more than the price you are locked into for the season.  But you will never pay less than your locked price either… even if market price falls.  With a heating oil lock-in rate, if daily market price goes down, your locked-in price does not. Lock-in heating oil rates also come with a one-year contract and fee. If for any reason the contract is broken due to poor service or a bad pricing deal, the customer has to still pay the fee. For this reason, Rittenhouse Comfort & Energy Service does not offer a locked-in heating oil price, and recommends that consumers avoid them!

We Help You Control Heating Costs

One of the best ways we can help you control home heating costs is through our Price Protection Program.

What is Price Protection?

Price Protection is an optional program that offers peace of mind during price volatility. If our market price is higher that your capped price, you ONLY pay the capped price! If our market price is lower than your cap, you pay the lower market price! Rittenhouse suggests that oil consumers avoid fixed or “locked” heating prices, which obligate you to one price all season, regardless of the market price.

Additional Ways Rittenhouse Customers Save Money and Budget Fuel Costs:

Monthly Payment Option – Instead of paying per delivery, most customers prefer our monthly payment option. This method of payment eliminates high delivery bills and spreads your estimated fuel costs into lower monthly payments. This option also pays you 1% interest on credit balances you accumulate during the season and can be customized to meet your needs.  Enrollment is completely free.

Customer Referrals – One of the best ways to lower your heating cost remains our customer referral program.  When someone you refer becomes a new automatic delivery oil or propane customer (250-gallon tank or larger) you and they will each receive a $50 account credit!

Our family-owned company is honored to be the heating oil supplier of choice for thousands of families in Baltimore and Harford Counties in Maryland who trust Rittenhouse to keep their homes comfortable all year long! In addition to heating oil delivery, Rittenhouse Comfort and Energy Services and its sister company, Modern Comfort Security, are proud to offer you a complete range of home comfort solutions that are designed to make your home comfort convenient and affordable! For questions about your current account or to become a Rittenhouse customer, Contact Us  (410) 665-1660 or visit www.rittenhousecomfort.com

2017-05-25T10:48:44+00:00 October 19th, 2016|