I have prepaid in the past and i generally think it's a good deal since it locks in your rates for the season, and i think most would agree oil prices are not going anywhere but up.
However, i did get burned one year after the company i prepaid with took my money (and that of hundreds of other customers) but didn't deliver the oil! The company was investigated by the state atty general's office and now out of business, but none of customers ever got our money back, so BE CAREFUL.
All that being said, i am planning on waiting til around July of this year and checking to see what the price of oil is then, assuming and hoping it will be lower at a time of year when there is less demand for heating oil. I'll fill up my tank then. I've often thought it would make sense (if you are planning on staying put where you are, which i am not) to pay to have a 2nd oil tank installed in your basement/garage, so that you could fill up 2 tanks of oil and take advantage of lower oil prices.
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