Oil Price Check - Feb 08, 2010

During the heating season, the state Department of Energy Resources conducts heating oil price surveys. During the last twenty-six years, Mass Energy prices have been 15-30 cents per gallon less than the average retail price charged by full-service dealers.

Search for prices since 2004.
Note that our price difference is greatest in the months that you use the most oil.

The following prices are the average daily prices charged by oil dealers contracted with the Massachusetts Energy Consumers Alliance. Mass Energy's prices differ from dealer to dealer. Contracts between Mass Energy and its thirty dealers see price variations based upon their service location and the different wholesalers pricing.

The state survey average on 2/2/10 was $2.82 with a high of $3.30 and a low of $2.30. The Mass Energy price was $2.575 for 20-30-day and $2.513 for COD or Prompt payment. Fuel Assistance for January 26, 2010 = $2.443.

Tuesday price to be up about a penny.
Average Prices for Mass Energy Members:
February 8, 2010*
If you pay:
20-30 Days Average = $2.493 High = $2.56 Low = $2.39
5-10 Days Average = $2.434 High = $2.52 Low = $2.34
COD Average = $2.428 High = $2.52 Low = $2.34
Budget Average = $2.442
*Lowest daily price since December 17th.

February average to date:
20-30 days = $2.559 High on 2/3 = $2.636 Low on 2/8 = $2.493
5-10 days = $2.494 High on 2/3 = $2.575 Low on 2/8 = $2.434
COD = $2.489 High on 2/3 = $2.57 Low on 2/8 = $2.428
Budget = $2.503 High on 2/3 = $2.584 Low on 2/8 = $2.442

Current market commentary: Markets ended last week at their lowest point since mid December. Early trading on Monday has prices holding the line, but looking as though the decline may continue.

Normal seasonal trend: February can see the lowest prices of the year before traders focus on gasoline and the spring driving season which tends to bring up all energy markets during April.

08-09 season recap: Our dealers report our average member took 760 gallons at an average cost of $2.16 per gallon. When compared to the DOER survey results that estimated the average Massachusetts heating oil consumer paid $2.56 per gallon last winter our average member saved $.40 per gallon! Of course with the wide swing in prices our members individual averages could range quite a bit in comparison to the average. We have had several members report averages under $2.00 per gallon, thus leaving it open that there will be members who average $2.40 or so as well. (That's the problem with averages, especially with over 16,000 data points!)

BioHeat: Our bioheat members paid an average of $2.53 per gallon for the heating season, keeping their cost in line with the state survey estimate for regular heating oil members.

At Mass Energy, our daily pricing follows the market with our fixed margin program allowing for competitive prices every day.

If you want to compare more than today's prices, please call or e-mail us and we would be happy to compare our price on any day over the past years to compare what you paid on the same day.