Unusual 2006 has oil customers guessing in 2007

Until last year, consumers considering whether to fill their oil tanks during the summer to get a good deal had a convincing set of numbers to help them make their decision.

The data showed that in most years, a customer who bought oil during the summer instead of waiting for the first frost saved money, sometimes several hundred dollars. That’s because prices were low during the summer months but rose as winter drew closer.


Then came 2006, a year when prices paradoxically soared during the summer and dropped when winter hit. It was the first time since 2001 that prices in New York dropped when winter arrived, according to figures from the U.S. Energy Information Administration.

That makes it particularly hard to be a consumer or a dealer this year. Several dealers said that because of what happened last year they are reluctant to counsel customers on buying strategies.

Journal-News (New York)