Committing to a price for oil in the summer is (on a small scale) exactly what the futures traders do every day in Chicago and NY. You are committing to a set price in the future for a commodity. If the price goes up, you win. If the price drops, you lose. In some ways it is a gamble, however if you look at the price offered and say "I can afford that, but if it goes up, I cannot afford it" than locking in a price allows you to survive the winter. You may not get a deal, but you can get by. This is what farmers go through every year. They sell soybean or corn futures, knowing that they HAVE to get x dollars a bushel. If they can sell a bushel for x + a small profit, they lock in a guarenteed profit. If they wait until harvest time, they may make out big-time, or lose the farm (literally). Futures remove the risk, but also remove the possibility of big profits. That is what the futures market is all about, people seeking $ reward for taking the risks. Oil traders this spring were making serious cash, but this fall they lost it all back. If you can't afford the risk, lock in (but you won't get any deals either).