Now that gas is so low, is there a way to lock in the price? Sort of like the locking in the heating oil price?

If it’s possible to lock in the heating oil price (for a fee), shouldn’t we also be able to lock in the gas price?

5 Responses to “Now that gas is so low, is there a way to lock in the price? Sort of like the locking in the heating oil price?”

  1. Kelvyn Says:

    my family buys about 400 gallons of gas at once for fair market price and we store it in a tank
    so you can get it in bulk for good prices, but you have to be able to store it
    other than that I think you can only lock in for a few months max

  2. Roman M Says:

    No that’s not in our control. It’s OPEC that controls the oil prices. The middle eastern countries where we get our oil can jack up the prices. That’s why foreign oil dependency was a hot button issue during the presidential debates. It’s gonna shoot up to 4 bucks again during the spring time. Then it will go back down.

  3. Life is good Says:

    Not in a free market. Nice try though.

  4. CwboyBill Says:

    Nope. OPEC just had another meeting and announced that they want crude oil back to $97.00 per barrel by January. The only way you can ‘lock-in’ the price is to buy some 55 gallon drums and start pumping today.

  5. Madame M Says:

    Hmm. I don’t know if that’s such a good idea. It just encourages people to be more wasteful of gas, if it’s cheap. We should pay the real value of gas.

    I read on one of the Yahoo! Answers that the government is dipping into its reserves of gas to help lower the price. If that’s true . . . what will happen when we don’t have any more reserves?

    I know expensive gas is a problem — I commute about 50 to 70 km. a day (about an hour of driving in all), and I don’t see any way to get a job closer to home. Yet. But cheap gas isn’t really the answer in the long run.