Will fuel oil be cheaper than anthracite coal?

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lincolnmania
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Post by lincolnmania » Tue. Apr. 21, 2020 11:15 am

Yesterday crude oil was at -37 dollars a barrel. as of writing this post crude oil is 3.73 a barrel.
Do you think that fuel oil will become cheaper than coal?
i pay around 205 a ton delivered. That would be about $1.12 a gallon for the same amount of fuel oil.
Glad my efm is set up for coal and oil.

my dad switched to oil in 1971, he had told me that coal was more expensive than fuel oil.....i think it was around 15 cents a gallon for heating oil and he was paying about 35 dollars a ton delivered for coal.


 
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freetown fred
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Post by freetown fred » Tue. Apr. 21, 2020 11:26 am

Sounds great L, but stay on the good side with your coal dealer cause it won't last long no matter how far oil prices drop. :)

 
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lsayre
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Post by lsayre » Tue. Apr. 21, 2020 11:33 am

When you can purchase a single gallon of heating oil for the price of about 13.7 lbs. of. anthracite, they will be at par on price.
Last edited by lsayre on Tue. Apr. 21, 2020 11:52 am, edited 1 time in total.

 
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coaledsweat
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Post by coaledsweat » Tue. Apr. 21, 2020 11:42 am

That isn't going to happen.

 
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lsayre
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Post by lsayre » Tue. Apr. 21, 2020 11:43 am

coaledsweat wrote:
Tue. Apr. 21, 2020 11:42 am
That isn't going to happen.
Yes it is! In some places it already has. Anthracite is only cheap in close proximity to the source.

 
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lsayre
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Post by lsayre » Tue. Apr. 21, 2020 12:00 pm

I grabbed this off the EIA website only moments ago:
Heating Oil.png
.PNG | 12.9KB | Heating Oil.png
I didn't try to run the numbers, but lets say $1.80 per gallon.

180/13.7 = 13.14 cents per pound for anthracite at par with oil (or $262.80 per ton). In most all of these states anthracite costs more than that.
Last edited by lsayre on Tue. Apr. 21, 2020 12:04 pm, edited 1 time in total.

 
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EarthWindandFire
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Post by EarthWindandFire » Tue. Apr. 21, 2020 12:03 pm

I burn coal from Halloween until March 1st. From that point on, the furnace is cheaper to run. I will be filling the oil tank next week.


 
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Homesteader
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Post by Homesteader » Tue. Apr. 21, 2020 12:50 pm

If the price of diesel fuel stays real low for awhile then the price of anthracite should come down quite a bit too. Anyone for a TT load this summer. Coal stores real well.

 
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Rob R.
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Post by Rob R. » Tue. Apr. 21, 2020 12:55 pm

lincolnmania wrote:
Tue. Apr. 21, 2020 11:15 am
Yesterday crude oil was at -37 dollars a barrel. as of writing this post crude oil is 3.73 a barrel.
Do you think that fuel oil will become cheaper than coal?
i pay around 205 a ton delivered. That would be about $1.12 a gallon for the same amount of fuel oil.
Glad my efm is set up for coal and oil.
I think it is unlikely we will see $1/gallon fuel oil, but I guess anything is possible. If it happens, it won't last long.

 
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Post by scalabro » Tue. Apr. 21, 2020 2:35 pm

I’ve finally purchased a second 330 tank...I wish two 550’s would fit through the Bilco door😢

 
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Rob R.
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Post by Rob R. » Tue. Apr. 21, 2020 2:55 pm

Two 330's is still a lot of fuel, especially if something goes wrong.

I am preparing to remove my 275 gal. tank soon, and the oil boiler will follow.

 
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warminmn
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Post by warminmn » Tue. Apr. 21, 2020 4:18 pm

lsayre wrote:
Tue. Apr. 21, 2020 12:00 pm
I grabbed this off the EIA website only moments ago:

Heating Oil.png

I didn't try to run the numbers, but lets say $1.80 per gallon.

180/13.7 = 13.14 cents per pound for anthracite at par with oil (or $262.80 per ton). In most all of these states anthracite costs more than that.
Although Im an exception, there are very few people that could even burn fuel oil here. Almost all the furnaces installed for many years are NG or propane. I have an old oil space heater i could use and have used in the past... I am not fond of any heater that does not give constant heat, which explains why I burn $300/ton coal. We shall see how fuel oil prices pan out here, but I expect they wont lower prices where they should be until fall here.

 
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Post by xackley » Tue. Apr. 21, 2020 4:38 pm

In WNY coal cost about $230 a ton.
The NYS site for fuel oil prices is $3.03 where as last year the price was $3.41. Not much of a drop yet.
The oil in the tank cost a little over $2.00 a gallon in 2007, and even at $2.00 coal cost half as much to heat my house.
I will wait until it appears to have bottomed out to fill the tank. I do use the oil furnace when the daytime temps stabilize above 60*, but just for a few minutes to take the chill off.
Don

 
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Post by hotblast1357 » Tue. Apr. 21, 2020 5:37 pm

You would think coal would be going down with all this.. I just got a quote from Lehigh for my tractor trailer load of bulk, it actually went UP!

$13/ton more from my last load in 2018. Surprisingly the trucking is what has gone up..

The only thing I can think of is maybe they can’t get back haul right now..

So it comes out to $217/ton, which is $1.48 per gallon of heating oil according to Larry’s numbers..

My family just some heating oil last week at $1.79...

I don’t know what to do, hate to buy heating oil, but I also will not waste my money.

I know heating oil WILL go back up, but it has gone down almost $2/gallon here right now from usual price, coal has gone up..

 
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Post by Holdencoal » Tue. Apr. 21, 2020 9:08 pm

:lol: At negative $37 I bought 16 barrels and the oil guy brought me a few $100 when they dropped it off.


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