A Letter to Our Customers About The Recent Oil Price Spikes

Mar 11, 2022

The Russian invasion of Ukraine shocked the energy markets, sending crude oil to record territory and spiking all energy prices.  We’ve had increases from our heating oil suppliers of over $1.50 per gallon in less than a week! 

Unsurprisingly, we’ve been getting many calls around two connected issues- the surge in fuel prices and supply concerns. People are astounded by how much prices have risen, and how fast.  So are we. They are also concerned that there will be interruptions in supply that will cause them to run out of fuel. 

 The Russian invasion of Ukraine shocked the energy markets, sending crude oil to record territory and spiking all energy prices.  We’ve had increases from our heating oil suppliers of over $1.50 per gallon in less than a week! 

What's coming next

We don’t know where things will go from here. One thing we can tell you is that we dislike this as much as you do. Some people are under the misconception that when prices rise, we make more money. The opposite is true. People cut back usage. They have trouble paying their bills and our receivables skyrocket. Meanwhile, we must pay our suppliers in just 10 days. It is an awful mess for everyone.

 One thing you can count on is that we will not let you run out. We have been in business for many years and have very strong relationships with suppliers and financial institutions. 

 If you are having trouble paying your bill, talk to us before it becomes a problem. Many times, we can work out something to give you more time, especially if you’ve been with us a while. We can also set you up on a monthly payment plan. 

 Nothing will make us happier than when prices start dropping. Until then, trust us to look out for you and pray for the people of Ukraine.  

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Comfort Line Spring / Summer 2023

For more than 25 years, Hart & Iliff has offered a winter price protection program for our heating oil customers. Initially, we offered a fixed and capped price program.
In recent years, we transitioned away from fixed price, because it offers no downside protection for our customers. Even though it was clearly disclosed, each time the price dropped during the winter, customers were very unhappy about being locked in at a higher price. For example, during the 2014/2015 heating season, prices dropped $1.40 per gallon during the winter. With increased price volatility in the energy markets, we don’t believe it makes sense to lock in a price for the entire winter.
The other program is a capped price. This program allows you to pay our regular posted price, but never above a preset price cap.

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Comfort Line - Fall/Winter 2023

Rising energy costs have been a painful, unfortunate fact of life in 2022. The factors leading to higher energy rates are global and complex. We’re as eager as you are to see heating oil prices return to normal.
Some people think that local fuel companies, like ours, make more money when prices go up. The opposite is true. Our margins suffer, customers cut back on usage and are late paying bills. Meanwhile, we need to pay our suppliers in 10 days. It’s an awful mess for everyone.
We want to keep you in the loop during the heating season and help you navigate this winter.

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Price Protection Programs for 2022 - 2023 Heating Season

For over 25 years, Hart & Iliff has offered a winter price protection program for our heating oil customers.  Initially, we offered both a fixed price and a capped price program.  In the last few years, we transitioned away from a fixed price, because it offers no downside protection, if the price drops.  Even though it’s been clearly disclosed, each time prices drop during the winter, customers are extremely unhappy about being locked in at a higher price.  For example, during the 2014/2015 heating season prices dropped $1.40 per gallon during the winter.  This could easily happen again this winter.

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What Our Customers are Saying

These are unsolicited comments received from Hart & Iliff customers.

"Hart & Iliff has always been nice to deal with over these years."

S.H., Sparta, NJ

"Thank you for sending these very capable men to take care of my tenants’ home."

P.T., Branchville, NJ

"I want to thank you for the superb job, you and your assistant did at my house. It’s a pleasure to look at a job when is done in a neat and professional manner."

G.C., Lafayette, NJ