My neighbours and a collegue of my DIL ran out of propane, used in their furnace as their only source of heat and for cooking. The company said there was a shortage and they waited a week for it to be delivered! The price was up too. The company said that they couldn't go to another company as they had a 'contract' and could take legal action. Luckily it was during our 'warm spell' when the temps were only -5C.
I'd stick with oil as your back-up.

Heating oil sort of competes with diesel fuel - a growing demand. You can't store it for more than a year or two.
Propane competes with few vehicles so the demand shouldn't rise as fast, plus you can store propane for many years with no degradation. Propane gives you other options like lights, fridge and freezer that will work without electricity.
The cost right now is about equal to heat with oil or propane - propane is a bit cheaper per gallon but you need a bit more to get the same BTU's.

No contest by my logic but I recommend you put more than $5 in the tank so you aren't caught by a shortage- as of course any prepper would do anyway.

I use propane. As to price, it's simply supply and demand. Fill your tank in the summer when its cheap and there isn't much demand. They will be at your door before you hang up the phone. Fight to have your tank topped in the fall. They don't like to do it, but if you are politely insistent, they will.

There isn't a true shortage of propane in Eastern Ontario. The "shortage" is due to several reasons.

1) The small supply companies place their orders in the fall based on how much they sold the previous winters. They can only store and or pay for so much themselves.
As we all know, the past winters have been quite mild and propane consumption was relatively low. If the person doing the ordering pre-determined that winter was
going to be mild again, than in all probability, they didn't order enough to last their customer base through a cold winter. This shortage is due to the bubble and
having to get more propane re-directed in a short time since their suppliers have also now made other commitments.

2) Most propane companies lease their tanks to their customers and convince their customers they only need a certain size. Its easier.

3) Most people go along with it because they don't really know how much they will use over the course of a winter, let alone a year and they think the truck will always
come when they need it. Also, many don't have the space for a large tank and again, they are told they don't need a spare "because we are only a phone call away."

4) There are demand bubbles whereby everyone runs out of propane in a given area at around the same time due to the fact that the supply truck likes to maintain
efficient routes.

5) Few people take the time to check the propane level in the tank regularly and maybe turn down the thermostat and go into conservation mode until they know when
the next delivery will actually occur.

6) When you are out of propane and in a dead panic because by golly its cold out there, don't scream and yell at the person who answers the phone. NIne times out of ten,
its a small family operation and the lady of the house is tired of being screamed at all day long 7 days a week. I got 1500 L of propane during one of these shortages
simply by commiserating with her having to deal with cranky customers before she had a chance to go all defensive on me. I shovel and sand paths to the tank and
bring hot drinks to the driver. I am always given preferential treatment now because I gave it first.

7) If at all possible, buy your own tank. You can then have any company fill it. This has some disadvantages as the tanks have to be re-certified every 10 years and it can
be a pain in the butt and expensive. You also have to keep an up to date maintenance certificate handy for your furnace as no propane supplier will fill an unknown
persons tank without one.

8) If you are leasing a tank and therefore in a contract with a specific company, another company is allowed to fill the tank if your company cannot and it is truly an
emergency situation.

It is an uncomfortable feeling to be reliant on one fuel source. If you are, try to keep on hand a full winter's fuel supply based on the nastiest coldest winter you could ever imagine in an uninsulated house.

Breaking your contract with your Propane supplier ?

I have no contract because I own my own tanks.

My opinion, it is best to purchase your own tank or tanks so you can call around and find
a supplier when you need. This spring / summer I plan on buying a 3rd tank when
the price of propane drops .