EIA reports rising heating oil prices

By Nicholas Zeman | February 23, 2010
Posted March 17, 2010

Residential heating oil prices increased during the week ending March 8, 2010. The average residential heating oil price rose 1.9 cents per gallon to reach $2.91 per gallon, 73.7 cents per gallon higher than the same time last year. Wholesale heating oil prices gained 6.7 cents per gallon to reach $2.18 per gallon, 87.6 cents per gallon higher than at this time last year.

"You have to remember that this time last year was an aberration," said Charles Cross of Pittsburgh's United Oil Co. "Almost all commodities dipped very low, crude was near $30 per barrel and fats were at 13 cents per pound. If you back two years instead of one, the numbers aren't really far off from the numbers before the crash."
 
 
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