Heating oil prices dip, LIers talk deal

(09/22/06) WOODBURY - With crude oil prices dropping, some Long Island residents said Friday they might renegotiate their heating oil contracts. Many homeowners lock in heating oil prices with their

News 12 Staff

Sep 22, 2006, 10:23 PM

Updated 6,689 days ago

Share:

(09/22/06) WOODBURY - With crude oil prices dropping, some Long Island residents said Friday they might renegotiate their heating oil contracts.
Many homeowners lock in heating oil prices with their distributor for a set amount of time. Recently crude oil prices lowered to about $60 a barrel and the quick drop has caused heating oil to cost approximately 20 cents less per gallon than a year ago. Some Long Island residents say they will try to renegotiate their fee for this winter?s heat.
Another option for those who do not lock up a flat rate is a price cap. This sets a maximum amount of money the company can charge that individual regardless of what happens on the market.