Price
of home heating oil skyrockets
Near record prices and the expectation
that bills may rise 16 percent higher than last winter have residents
scrambling to obtain price caps and price locks from local oil dealers.
Providence Journal
Friday, August 26, 2005
BY TIMOTHY BARMANN
Journal Staff Writer
With the price of heating oil
hovering near its all-time high, heating bills this winter are
expected to be painful.
Anxious customers have been
calling oil dealers, trying to lock in a price as cooler weather
approaches.
There's a tremendous amount
of price hunting on the telephone," said Dennis Brennan,
owner of Brennan Oil and Heating Co., of East Providence.
What those customers are finding
might come as a shock. The average price of heating oil in Rhode
Island was $2.439 a gallon on Monday, a penny short of the all-time
high reached a week earlier, according to the State Energy Office.
That's 46 percent higher than the price of $1.669 a year ago,
and 66 percent higher than the price of $1.469 two years ago.
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