Heating Oil Prices

News
Wednesday, December 29, 2010 - 10:44am

With heating prices going up, some homeowners are looking for other ways to stay warm.

With temperatures going down, home heating oil prices are on the way up. Some homeowners are looking at other ways to stay warm.

Temperatures have dropped well below freezing and heating oil prices have jumped, it's a formula that can drain a bank account dry.

John Getchel and Emily Matthews have turned to blankets and bundling up inside. They say it's too expensive for them to keep their home warm.

Customer John Getchel says "the amount of money I make it's not much, so if it's going to go up 20 cents a month, it's going to be using less oil, not heating my house as much."

Didato Oil has been in middletown since 1948. Kathleen Didato says people who use oil to heat their homes are taking a hit, because of the rising prices.

Kathleen Didato of Didato Oil says "they were pretty stable in the fall but as the cold weather snap came, we could see the prices increasing constantly every day, a little bit more, a little bit more."

In just the past two weeks in Connecticut, the average cost per gallon has gone up almost seven cents. From a year ago, it's gone up 50 cents a gallon. Didato says the rising oil prices are because of a weak dollar and other factors but she doesn't know why its taking such a drastic.

Kathleen says "there is an awful lot of reserves, we get the report every Wednesday, and the amount being used and the amount being produced is fine."

This home had just about 190 gallons put in it, that's one way people can save money. Many companies offer a discount, if you offer a lot of money at one time.

Didato also recommends cleaning the boiler every summer. She says the oil will burn slower, but for people who don't have the money now. They are looking for anything to keep costs down.

Customer Emily Matthews says "we have to leave it at the same temperature, we have to keep it low and not change it that much… and we don't know what to do."
 

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