Woe is the homeowner who locked in at $2.59 a gallon. Les Thomas heard grousing from plenty of them this week.

Home heating oil prices slid in September to not-seen-in-months lows; temporary good news for those who haven’t filled the tank for winter yet, not so sunny for those who worry pre-purchase contracts will cost them money instead of saving it.

“A lot of folks up in Lewiston-Auburn have been locked in at $2.59,” said Thomas, owner of Cash Energy fuel. “They’ve been asking us if we know of any way to get out of it. It’s a tough situation.”

His company, which delivers in L-A and greater Portland, offered No. 2 heating oil Friday for $1.84.

Maineoil.com figured the average price for this area of the state at $2.11 on Friday.

On Monday, the state will start officially tracking oil prices for its regular winter survey. Beth Nagusky, director of Energy Independence for Maine, filled up her home tank when prices started to drop but weren’t this low.

Of course, these prices may not last.

“I think people realize it’s like gambling. With oil prices, the market is very volatile. It could have gone the other way – and they could go the other way,” she said.

Anything could still make prices higher: a really cold winter, trouble in Iraq, a late-season hurricane.

“You never know what the market’s going to do. This could be a blip or it could be a trend,” said Jamie Py, president of the Maine Oil Dealers Association.

Dealers have offered prepayment or cap programs, where customers commit to a price or pay upfront, for 10 years, he said. Seven winters homeowners saved money locking in, twice they broke even and once they lost money.

“Historically, you’ve done well with it,” he said.

Py said this is the first winter for oil dealers under a new Maine law that says dealers must secure 75 percent of their customers’ contracts. They can’t speculate, or see if prices go lower, before committing to their own supply.

“It all makes sense. The idea is for the customer to understand we’re not buying low and selling high,” Py said.

Bill Fielding at Fielding’s Oil Co. heard from plenty of frustrated lock-in customers this week, too. He thinks people don’t understand the mechanics of a lock-in.

“As soon as you commit to me, I commit to my supplier that very same day,” for the going price at the moment, he said. “$2.50 was a great price in May. You wouldn’t be calling me if it was $3 a gallon, would you?”

No one could have foreseen the 40-cent drop this month, Fielding said. Already, this week, prices have tipped up a few cents.

“The public wants to win every year. You can’t have gravy every year,” he said.

Julie Hashem, communications and planning manager at the Maine State Housing Authority, said lower prices would not effect how many low-income residents it can help this winter; no one is turned away. But that average benefit, $588, may go further.

Last winter, 44,897 people used the program. Early estimate for this year is 48,000.



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