(203) 245-2239 • 229 River Street • Guilford, CT 06437

Methods of payment

We offer several methods of payment to accommodate our customers' needs.

Print Info/Credit Form

Payment Plans

We offer several types of payment plans.
Please contact us if you would like additional information to help you decide which of the following payment plans best suits the needs of your family.

Monthly payment plan

Madison Oil encourages customers to participate in the monthly payment plan. It controls heating costs by allowing you to make an equal payment each month and avoid large payments in the winter when most deliveries are made. The payments are calculated based on the estimated cost of oil and your estimated usage for the season. Payments are averaged over ten months. The price of oil is not a fixed price per gallon; it will be based on the retail price at the time of delivery. If necessary we will adjust payments in the winter to account for market changes. You pay the same amount each month even though the price you are charged for oil deliveries is at the retail price on the day of delivery.

Which would you rather pay?

  • With this program you will receive a 5 cent per gallon rebate at the end of the heating season for gallons used, if you pay by check or EFT and the payments remain current.
  • You will also get a rebate on any monthly credit balances (based on an annual rate of 2%) as long as your payments are current.

Retail Price - Payment due within 10 days of delivery

Customers who do not choose the monthly payment plans are billed the regular retail price on the day of delivery.

  • Payments received within 10 days of delivery made by EFT or check will receive a 5 cent discount.

Price Protection Plans

We offer price protection plans that may change from year to year. We buy small amounts of oil for these programs in separate purchases, the price for our programs will be changing as we sell what we have purchased and buy more. When we sell oil for these programs we cover 100% of what we sell and we do not oversell our program. This is to avoid taking any extra risk, providing you with consistent prices. Automatic Delivery is required for these plans. We offer different options to give our customers choices but cannot offer advice since we do not know what future prices will do. Call our office for current pricing and information about these plans.

Pre-Pay Fixed Price Plan: The price of oil is fixed for the length of the contract, it cannot go up or down no matter what the market does. No one knows if future prices may go up or down so there is no way of knowing if you will save money. This plan is for customers who like to make one payment in the summer and not have to think about it for the rest of the season.
Print a copy of the fixed price contract.

Equal Payment Capped Price Plan: This allows you to spread your payments over 10 months with the oil price capped. This program allows for the price to drop if the market price should go down while also setting the maximum amount per gallon that you could pay. There is however a premium charged by the oil suppliers for this feature to help offset the cost of buying price protection. We must purchase this to protect against a price increase while providing downside protection in case oil price fall. This fee is mandatory to be enrolled in the equal payment capped program.
Print a copy of the equal payment capped price contract.