The U.S. average retail price for home heating oil soared 5.4 cents over the past week to a record $3.40 a gallon, the government said on WednesdayThis is just another nail in the coffin of the American middle class. So let me get this straight, we attacked an oil rich country and our prices climbed out of sight. We killed thousands of innocent people and the only ones who benefited were the rich cronies of this administration. Yet still 28% of Americans still support this President. What does he have to do to get you to see the light? Maybe if you have to decide between food and heating oil you will finally get a clue. Somehow I doubt it. The stupidity of some people astounds me.
The national heating oil price was up 98 cents from a year ago, the U.S. Energy Information Administration said in its weekly survey of heating fuel costs around the country. It was the fourth week in a row that heating oil hit a record.
Heating oil prices are rising because of higher crude oil costs, which topped at a record above $100 a barrel last week, and tight supplies.
While distillate fuel inventories, which include heating oil and diesel fuel, increased by 1.5 million barrels last week, stocks are still down almost 15 million barrels from a year ago and are in the lower half of the average range for inventories at this time of year, according to the EIA.
Thursday, January 10, 2008
Heating Oil Prices Hit Record
Luckily my area has been warm lately.