The price of fuel, like the price of most other commodities, is determined by a variety of factors. In the case of heating oil and propane, these factors include supply and demand, geopolitical events, the weather and price speculation. But just because you use oil or propane to heat your home doesn’t mean you should have to worry about the ups and downs of fuel prices.
Porco Energy offers our customers programs to reduce the uncertainty in buying fuel and to make your fuel costs easier to manage. Here are some options for you to consider:
With a cap, you are protected whether fuel prices rise or fall. If prices rise, you’ll never pay more than a set “ceiling” or cap price. If prices fall, you benefit from what we call “downside protection” and you’ll pay the lower of your cap price or our current daily price on the day you receive a delivery. Our suppliers charge us a fee to offer you this kind of price protection. In essence you are buying an insurance policy and, as with any insurance, we charge you a fee.
Prebuy takes all of the guesswork out of buying fuel, because you know up front what you will pay for your fuel. You pre-buy a determined amount of oil or gas at a fixed or locked-in rate. This rate will remain the same whether the market goes up or down. You will pay that rate until the gallons are used or the program date ends, after which you will pay the market rate. Since we purchase these gallons for you up front, we require that you pay for your fuel in advance.
Our Comfort Credits program combines the convenience of our monthly payment program with the certainty of our cap program. Your price is guaranteed not to exceed the cap price regardless of what happens in the fuel markets, and we bill you monthly to spread out your fuel costs. As with our monthly payment program, we will credit your account with interest on any balance in your account at the end of the month. You are charged a fee for the price insurance component of this program.
Of course if you prefer, you can just “pay as you go.” You’ll pay our daily rate for your fuel on the day it is delivered, but your price is not protected if market prices rise. Of course if prices fall, you benefit because you are paying the market price.
If you would like to take advantage of any of these Porco Energy price protection options, please contact us today.