Hope you all know that this company has been billing residential customers sustantially more than the current market prices for propane.
Customers are complaining and having their tanks removed.
Company growth may be slowed as more customers wake up and realize they have been cheated for the last two or three years. Company may have a large inventory of empty 500 gallon storage tanks that will never be used.
I don't own or trade this stock but I am a Fl Suburban Propane customer. Last bill I paid $ 5.89 per gallon plus delivery. I finally got ticked off enough to switch my heat to electric and when I use the rest of my tank of propane cooking, I'm switching that to electric as well and have Suburban yank the tank. Florida electricity rates are high but not near the cost this company gets for propane.
I'm own SPH and am a customer. Not sure if they are gouging or not.
I contacted my local office in Beaufort, SC on Monday (6/20) and was quoted a refill rate of $3.89 per gallon. I lease my 500 gal tank and only burn about 350 gallons a year. Was wondering what others are being quoted and in what cities / states? Thanks in advance.
I just paid 1.79, but only because I have my own tank and got a lot. The going rate from that company is 1.89 (Which isn't an intro price. The guy who filled it and he has worked with them for years and said the highest they have ever charged was about 2.40). Suburban quoted me 2.99 (around 6/20ish) if I was on one of their tanks, but it was cheaper if the tank was owned by me which I just bought one. I wasn't thinking and didn't get that quote. I am in CO.
I do agree with the other posts that SPH has a good business model there is definitely lots of profit.
I am digging up my tank and putting in one or two that I will own. I will pay for it in 9-12 months, with the extra $1.80 they are charging me over my neighbor. My other neigbor is going to do the same. It seems like people are starting to figure this out. Last winter they charged me and a diff neighbor 3.99 when the going rate was 2.20. This company doesn't have many more years of doing this; I have heard their actual volume is way down. The delivery guy doesn't have much of a route anymore and it is getting less. The only reason mine has been this long is it is underground and I have some landscaping over it. They have been hosing people in my neighborhood for 2-3 years, and it is about to end.
Yes, that is their method. It happened to me over 14 years ago. I gave up with them as my propane supplier. Then I decided that as a stockholder, more power to them. Buy stock in companies that gouge. The best way to get even is to an owner of the company. A good stock picking technique is to buy stock in any company that you feel is charging you too much. Don't get mad, get even, become a cruel owner of the company.
MAN YOU SURE HAVE SHOWN THAT EVIL SPH A THING OR TWO. YOU HAVE REALLY raised up a groundswell against them. However when you started your quest SPH was down at $45 a share and now through no help from your campaign the price has unexpectedly risen to almost $56 a share. Keep up the good(or in your case bad) work.
Interesting series of stories that ring a bell of familiarity. 15 years ago we lived in Auburn, CA. We signed on with Suburban. They delivered and installed their tank. Price was low the first month. Then each month the price per gallon went up. We canceled and switched providers. However, as a stock holder, let them keep jacking up rates. That is the American way. They will keep raising rates and taking back tanks until they maximize profits. Hurray for them and for the stockholders.
had almost a hundred percent increase in 45 days - just replaced my 500 gallon tank. people are pulling suburban tanks like crazy. a disgruntled propane user formed his own co-op. in 2-3 years he's already siphoned off over a million gallons from local propane dealers - especially suburban.