Heating oil costs have reached one other report excessive within the US.
Based on new info right this moment from the Vitality Data Administration (EIA), the typical worth for a gallon of heating oil within the US is $5.90. That’s up 7 cents within the final week, and marks one other all-time report excessive.
Report Excessive $6 Heating Oil in A number of US States
The value for a gallon of heating oil is greater than $6 in 4 US states:
- Delaware – $6.16
- New Jersey – $6.15
- New York – $6.06
- Maryland – $6.05
It’s almost $6 a gallon for heating oil in a number of different states, too:
- Connecticut – $5.97
- Ohio – $5.94
- Rhode Island – $5.93
- Massachusetts – $5.93
These costs and better power prices throughout the board (electrical energy, pure gasoline and gasoline are up, too) will doubtless have a dampening impact on small companies this Fall and winter. Not solely will they must funds extra for power prices, their clients will certainly be feeling the pinch across the vacation purchasing season.
The present worth of retail heating oil is approach up over this identical time final yr, in keeping with the EIA. On common, a gallon of heating oil is $2.50 dearer than in November 2021.
Costs on heating oil are solely anticipated to go up from this level, at the very least by means of the early a part of 2023. In a tweet on Tuesday, EIA posted, “We count on that low inventories of distillate fuels, that are primarily consumed as #diesel gasoline and heating oil, will result in excessive costs by means of early 2023.”
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