To lock in or not to lock in…

Will Oil Prices Remain Low?
June 26, 2017
Fixed Price Program F.A.Qs
July 18, 2017

Every summer our customers wrestle with whether to lock in to a fixed price program, a capped price program or pay our daily market rate for oil deliveries next season.

Below please find ten things you should know prior to making your decision.

  • It is your decision. Jamie Oil neither encourages nor requires any customer to lock in.
  • Your decision involves risk and some of the risk is yours.
  • Every year oil prices go up on some days and down on others.
  • Do not expect to “pick the bottom” of the market.
  • Jamie Oil employees have no idea what oil prices are going to do next year.
  • If you lock in and oil prices go up, you win. You save money.
  • If you lock in and prices fall, you lose. Locking in could cost you money.
  • Jamie Oil orders oil from our suppliers when you lock in, as is required by law.
  • Jamie Oil cannot get out of the contracts we sign with our suppliers, and we require our customer to fulfill their obligations to us.
  • If a customer chooses to lock in five years in a row, it is likely that the customer will lose money two out of the five years.

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