Westwood, Mass. (May 8, 2009): Gray, Gray & Gray, LLP Certified Public Accountants, Westwood, MA, has released the results of the firm’s 18th annual Oilheat Industry Survey. Responses to the survey were obtained from retail fuel oil dealers from throughout the Northeast and Mid-Atlantic regions of the U.S.
“If there is a surprise in this year’s results, it is that there were no big surprises in this year’s results,” says Paul Gerry, CPA, the Gray, Gray & Gray partner who manages the firm’s Energy Practice Group “Despite a tumultuous year of price spikes and dramatic drops, most dealers were able to maintain a solid margin. In fact, the number of dealers who reported that they are considering acquiring another company jumped this year, a sure sign of optimism for the future.”
Gerry notes that one area that continues to be a dilemma for dealers is price protection plans.
“Dealers who responded to the survey are almost equally divided on whether or not they will offer price protection next year. The record-setting swings in the price of oil we experienced this year will not make a decision any easier,” says Gerry.
Complete survey results are available on Gray, Gray & Gray's web site at: www.gggcpas.com, or by calling (781) 407-0300.
Gray, Gray & Gray, LLP is the country's leading oilheat and petroleum industry accounting firm. Gray, Gray & Gray's offices are located at 34 Southwest Park, Westwood, MA, and 276 Union Avenue in Framingham, MA.
Media Contact:
Kelly Monestime
(781) 407-0300
kmonestime@gggcpas.com