- Associated Press - Friday, December 26, 2014

MONTPELIER, Vt. (AP) - The industry group Vermont Fuel Dealers Association says it’s been getting questions from people who regret they got into a contract for fuel last summer at prices higher than they are now.

But the group says a contract is a contract, and that dealers also are locked into contracts, with wholesale prices negotiated last summer, before the recent oil price decline.

The state Department of Public Service reports that Vermont’s average spot price for oil has dropped from nearly $3.75 per gallon in May to about $3.22 a gallon now.

The fuel dealers’ association says some of its members offer contracts that guarantee a maximum price, but let it drop if market prices decline. The association notes that there is usually an additional cost for contracts that offer that feature.

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