Heating oil for November delivery rose 2.12 cents, or 1.5 percent, to
close at $1.4068 a gallon, the ninth record close in two weeks. Prices
have jumped 72 percent in the past 12 months. The price of crude oil
accounts for about 51 percent of the cost of a gallon of heating oil,
according to the Energy Department.
A wholesale price of $1.50 a gallon for heating oil is a "shoe-in," said
James Cordier, president of Liberty Trading Group in St. Petersburg,
Fla. "No one has turned on the thermostat yet, and we're talking about
$1.50 heating oil."
The typical home in the Northeast that uses heating oil will consume an
estimated 697 gallons of the fuel this year at an average cost of $1.60
a gallon, according to Energy Department figures. The region consumes 80
percent of the nation's home heating oil. It might be the costliest
winter ever for heating oil users, according to the department
tvoivozhd---that's $1115.2 folks, figure in anothe ten percent for the
predicted colder winter, total of $1227 unless soe foreign event kicks
the oil price further up. If you live on a farm, and are still able to
handle a chainsaw, wood heat will remove you from having to put out cash
you may not have..
Weather forecasters are predicting a colder winter for the Northeast and
Midwest compared with the 30-year average.