Fixed Price Program FAQ's

10 most frequently asked questions on Fixed Priced Programs.

Is it really a contract?

Yes. We agree to supply oil to a specific location at a pre-determined price for a limited period of time with a beginning date, expiration date, and specific payment terms. It is an agreement. It is a contract, and parties (both oil dealers and consumers) that breach have been found liable and subject to fines in U.S. courts.  Customers are expected to accept delivery of the lesser of 90% of their average three year consumption or 90% of their pre-paid gallons for the term of the contract.

What happens when the contract expires?

Your account remains on automatic delivery until you request a change in your delivery status. After the locked-in rate has expired, we continue to deliver fuel to your house at our prevailing daily rate until another price agreement is signed.

Are fixed price programs always a good deal for the customer?

No, not always. It is very unrealistic to expect that your locked-in rate will always be lower than the daily rate every single day of your contract term.

Why should I consider a price program?

If you fear that prices will rise, and you cannot tolerate the risk of rising prices for heating oil next year, you should consider a program.

What happens if I have a credit balance on my account when the contract expires?

First of all, that is your money. You can request a refund, provided all of your service and oil bills have been paid. You may leave it on your account, and future deliveries will be charged against the credit balance at our daily rate until another contract is signed.

What happens if oil prices fall during the term of the contract?

Locked-in customers will continue to pay the rate that they agreed upon until the contract expires. That is what "locked-in" means. Customers who purchase Downside Protection will be entitled to some relief in some cases if prices fall to low enough levels.

What happens to the Pricemax deposit of $250.00?

We post that money to your account as a deposit, and apply it to your first delivery made after March.

What does "the programs have limited availability" mean?

It means that at any time, without notice, Jamie Oil may modify, change or withdraw any or all of our fixed price programs that we offer. Once the contract is signed, however, we fully intend to honor our commitments to our customer. Just as a bank reserves the right to adjust the mortgage rates they offer, we can change the price, terms or availability of our fixed price programs. Oil prices often change more in half an hour than real estate values, interest rates, and the stock market move in one year. Iraq's invasion of Kuwait in 1990 made the price of oil go up $ .30 per gallon in a matter of minutes. It is possible that the prices we offer on August 1st may not be available on September 10th to those who have not already signed and returned the contract.

Last year, my neighbor had a lower lock-in rate than I had. Why?

Prices change every day. It is common for prices to go up or down $ .08 - $ .10 in a half hour. A customer who calls in the afternoon may get quoted a different price than one that had called that same morning. Even the price on each program is different.

What else do I need to know to be an informed customer?

It is important to understand that oil prices are more volatile than ever. The Wall Street Journal has reported "a whole new era" in oil prices, where the cheap energy we all enjoyed over the last twenty years is a thing of the past. The good news is that it is expected that oil will continue to enjoy its advantage over natural gas and electric as a means of heating your home in New England.