Oil Heat Contract
Capped Price Program:
Customers that wish to participate need to elect this option by July 1st each year. Our Capped Price represents the maximum per gallon price that you will pay for next season's heating oil. This is not a fixed price program that some dealers offer. You will continue to buy your oil at Reggie's current daily price as long as that price is lower than the capped price. You will never pay more than the capped price.
To accomplish this we buy futures at different times during the summer, when theoretically the price of heating oil is at its lowest. Since this is speculating we don't buy all of our oil in this manner which is why this is a closed program only offered to those that sign-up for it in advance.
There are no additional fees to participate, or penalties assessed if you decide to leave early, BUT in order to enjoy the benefit of what is always the lowest price program we offer, you must agree to one of the following two methods of payment.
(1) BUDGET PLAN: We will determine your oil requirements for next season - based on historical information- and multiply that amount by the capped price. That figure becomes our estimated cost to heat your home for next season. The Budget Plan breaks that figure into 10 equal monthly installment payments. Your first payment is due during the month of July and the final payment is due on the 1st of April. Finance charges will be added to installments not received by the FIRST of the month and missed payments will result in forfeiting the right to purchase your oil at the capped price.
(2) PRE-PAYMENT PLAN: The estimated cost to heat your home, as detailed under the Budget Plan above, will be paid in full during the month of July.
Please know that your money is not at risk in either scenario. Any remaining funds are automatically returned in full at the conclusion of the heating season, unless you indicate that those funds should be applied to next season's program.
Individuals that prefer to pay as they go are welcome here at Reggie's. C.O.D. customers must be at home when their oil is delivered and therefore can not elect the automatic delivery option. We accept all forms of payment including cash, personal check and most major credit cards.