Fuel Prices are falling and home owners may be in a position to cash in on the lowest oil heating prices all year.
The average home heating oil prices in Connecticut hover at the $3.60 per gallon mark.
It’s been sticker shock at the gas pumps for more than a month. Almost daily, there have been price hikes, adding 45 cents to the cost of each gallon. But are our elected officials willing to do something about the skyrocketing prices?
Oil analyst Tom Kloza said that, on balance, we’ll see better prices next year, but the days of $1.39 a gallon gas are gone.
The price jumped 11 cents in the Garden State and Friday’s weekly increase was something even Jersey drivers consider high.
New York City Mayor Michael Bloomberg said that now is the perfect time for buildings to convert to cleaner heating fuels and the city wants to help them do it, WCBS 880′s Rich Lamb reported.
Motorists continue to see higher prices at the pumps in New Jersey. AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.62, up a penny from last week.
Some are blaming President Barack Obama for the sky-high gas prices, claiming he wants to help enforce the “use-less gas lifestyle” he wants Americans to adopt.
High gas prices are no surprise in the summer, but they’ve gone up this winter.
On top of the 25 cent a gallon state tax is a floating tax that rises and falls with the price of gas. Right now, that’s an additional tax of 25 cents per gallon.
The need for fuel assistance in Connecticut is growing while state and federal money for the program is drying up.
AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.36, up 3 cents from last week.
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Weather forecasts predict a relatively mild winter. Despite that, the prediction from the Department of Energy is that the price of crude oil will move up, translating into higher home heating costs.
Oil analyst Peter Beutel says prices are dropping and they should be reflected at the pump soon.