Heating oil costs hit record averages

[Mizmoon]

BY TOM INCANTALUPO
STAFF WRITER

October 15, 2004

Sweater, anyone?

Home heating oil has broken the $2-a-gallon mark, reaching record averages of more than $2.07 on Long Island and $2.15 in the city in a new state survey. And with crude oil also setting a new record of almost $55 a barrel Thursday, analysts say further hikes in fuel oil prices are almost a certainty when winter arrives.

Experts blame the high crude oil prices on tight supplies worldwide and damage last month from Hurricane Ivan to crude oil production facilities in the Gulf of Mexico. Heating oil prices also are being affected by high demand for diesel fuel, which is a similar product.

Carl Larry, associate director of energy futures at Barclay's Capital in Manhattan, says there is little reason for optimism about heating oil prices even after the hurricane damage is repaired.

"They will go up from here," he said. "The tough part to figure out is where the top will be. But it's not outside the realm of possiblity if we have a cold winter that we could see $3 heating oil out there."

Another 25 cents to 50 cents a gallon, he said, is "inevitable."

http://www.newsday.com/business/ny-bzoil15,0,5011469.story?coll=ny-top-span-headlines

[Mizmoon]

1. Folks, my electric bill went up by $44 per month

gas for our cars is up, now oil is going to kill me this winter.

Fuck you and your $300 check, George. It's getting harder and harder to get by, cause my salary sure isn't rising at the rate my bills are.

[Catfight]

2. Winter is coming, will the elderly afford heat or medication? hum.

[arikara]

3. Everything is going to go up

We were just talking about that last night. I think that they're holding off really raising the price at the pumps because of the election. But once gas prices go up, I fear that everything will go up that requires transportation, that means food prices too.

[phantom power]

4. everything *will* go up. It's as inevitable as gravity.

[ElsewheresDaughter]

5. just bought 150 gallons paid $389.

[Mizmoon]

7. I just called my oil company to do a "lock"

So my price is set at $2.09.9 until june of next year. The oil company guy told me that he thinks home heating oil will go up to $2.75 or so over the course of the winter.

He said that they have trouble finding oil ... they have to hunt all over the state to get it. He also said that he's been hearing from seniors who are on social security who are totally panicked. For them, as the poster above stated, this comes down to decisions between heat and food.

God help us.

[Mizmoon]

9. Yikes! That's like $2.59 per gallon

You poor thing!

[midnight armadillo]

6. My mother-in-law saw a 70% increase

She pays early to lock in a price for the winter. Last year she was spending about $100/mo, this year it's $170/mo!

We will be adding additional insulation to her attic and sealing up all sorts of leaks etc in the house shortly. Well, the insulation will prob have to wait til after new year's, but the savings should pay for the extra insulation in one winter.

[Mizmoon]

8. yep I locked too

see post above