You're remembering the highs of Winter 2007/2008 but not the lows that came Winter 2008/2009.
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Regardless, those shocking 2007/2008 prices were what prompted me ( and many others ) to not only replace old oil boilers but to spend the extra on the more efficient ones. Many also switched to nat gas.
Ah, I think you're right . . . although I must confess I didn't realize the price dropped so much in the following year . . . not that it stayed down that low for very long though.