Do you want to protect your price this year?
You may want to consider adding a price cap to your oil purchase this year. With prices so much lower, this would lock in your savings, and still allow your price to drop if the market falls. There is a charge for this additional coverage, which is passed along from our suppliers.
To be eligible for the price cap program, you need to be on our AutoPay plan, which allows you to pay your bill automatically through your credit card or checking account. It simplifies things, saves you the hassle of writing a check each month and assures you won’t miss a payment and risk losing your price cap protection.
Q: Which way are prices likely to go?
A: We wish we could tell you, but it’s like trying to predict the stock market. As we have seen, there are many factors that affect heating oil prices, including supply and demand, global events and the weather. Fortunately, you have options that can help stabilize your fuel price.
Q: How does a price cap work?
A: A cap price sets a ceiling, or cap, on how high your price can go. It also protects you if prices go down; anytime our daily cash price is below the ceiling, you pay the lower price.
Q: Why do you need to charge a fee for a price cap?
A: We can’t cover this cost on our own. Our suppliers charge us a fee, and we pass this fee on to our customers. We make no profit on the fee. The amount we charge you is our cost.
Q: How and when is my fee paid?
A: While you incur your cap fee immediately, we allow you to spread the cost out over 11 months when you’re on our Smart Pay Plan. You pay $29 per month beginning in August and ending in June 2016.
Q: Do I really need price protection?
A: Some customers are fine just paying our market price. There is no fee, but their price can move up or down. However, if you are worried that the price of heating oil could spike up, enrolling in a price cap plan can give you peace of mind.
Q: How long does my price cap protection last?
A: Your price cap will remain in effect from August 2015 through June 2016. Because we make a commitment to our fuel suppliers for this protection, you must sign a contract when you choose a price cap. Please contact us to sign up or if you have any questions.
Q: What if I don’t get a price cap?
A: You will pay our competitive daily rate, but without any price protection. You won’t be charged a fee, but there won’t be a cap on how high your price can go if market prices rise.
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