Standard Oil Lowers Fixed Oil Contract Prices

May 7, 2009 - PRLog -- Bridgeport, CT –  Standard Oil of Bridgeport, Connecticut has lowered the price for heating oil to $2.249 per gallon for customers locked-in to fixed price contracts.  

Thousands of customers were under contract at prices ranging from $3.30 to $4.80 per gallon through September 30, 2009.   The new $2.249 pricing went into effect for all deliveries after April 1, 2009.

In a letter to customers, Standard Oil President Roy Friedman acknowledged oil prices were extraordinarily high last summer when customers opted for locked-in oil price contracts, and that created a very distressful situation for clients when oil prices fell dramatically last fall.

“We recognize the hardship last year’s high heating oil prices imposes on families who are worried about being able to make their mortgage payments and put food on the table. Though Standard Oil paid last year’s high prices to buy the contracted oil, we decided to ‘bite the bullet’ and absorb the substantial loss to help our loyal customers.

“Clients in good standing will see a dramatic decrease in their locked-in per-gallon price to $2.249.   This is part of our ongoing commitment to being a responsible corporate citizen.”

In his letter, Friedman asks clients to “…accept this reduced price as a gesture of goodwill in these trying times.”

For more information or to arrange an interview, contact David Cohen at (800) 822-3835 or by e-mail at dcohen@standardoil.net.

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Standard Oil Inc., located in Bridgeport, CT, is the largest family-owned heating oil company in Connecticut. Founded in 1913, Standard Oil leads the way in keeping its customers warm in the winter and cool in the summer 24 hours a day, seven days a week. Standard Oil is a Connecticut Better Business Bureau Accredited Business.