I am of the opinion that pellet prices are inflated at the moment for two reasons. 1. The past year saw a large influx of new pellet stove users, and 2. in addition to increased demand saw dust for pellet manufacturing, the saw dust supply was low because of the economic slow down. This was the perfect storm to make pellets really pricey this season.
With that in mind it becomes a little more difficult to decide to pre-buy or not. My plan is to hedge my bets and pre-buy half, and wait on the rest because I believe there is a good chance price will fall.