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heating oil prices have been steadily rising for years and are expected to reach record levels this winter, precipitated by higher costs for crude oil and the shutdown of several crucial refineries in the Northeast and in Europe.

The Energy Department projects a price of $3.79 a gallon over the next few months, more than a dollar above the winter average for the last five years.

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As Price of Oil Soars, Users Shiver and Cross Their Fingers

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“The people who have been unable to switch off of heating oil will be increasingly penalized in the coming years,” said Jay Hakes, a former administrator of the Energy Information Administration and now the director of the Jimmy Carter Library and Museum. “There’s going to be a continuing incentive to get off heating oil, because every day the headlines and experts say that over the foreseeable future, we will have natural gas at attractive prices.”

Nationwide, the average household using oil spent $2,298 on heat last year, compared with $724 spent by gas users and $957 spent by electricity users, according to the Energy Department.

This year, heating oil users are expected to spend 3.7 percent more than last year, while natural gas customers are expected to spend 7.3 percent less and electricity users will spend 2.4 percent less, according to the department.

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Originally posted by Whyisit:
Wasn't it a few weeks ago that you were bragging the the cost of heating oil was low???

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when Bush left office (Jan 18, 2009) the price was 290.9.

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Many Shiver

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Originally posted by Zorro:

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when Bush left office (Jan 18, 2009) the price was 290.9.

Your chart says 239 now its 283 an increase 18%

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Originally posted by *CJ:
When Bush took office (Jan 29 22, 2001) Weekly Maine No. 2 Heating Oil Residential Price (Cents per Gallon) was at 144.3 144.6; when Bush left office (Jan 18, 2009) the price was 290.9 238.5. ...

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When Bush was in office home heating oil prices went from a low of 109.2 (Mar 4, 2002) to a high of 379.1 (Mar 17, 2008) and not once did I see any of ya'll jumping up & down on Bush... how come? ...

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...the Energy Information Administration reported that since 2001, U.S. distillate fuel yields (a category that includes both diesel and heating oil) have been trending upward with a corresponding increase in U.S. distillate exports. One reason for the rise in exports is the surge in foreign diesel demand, which has helped prop up heating oil prices. ... Source

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That's not an 18% increase while Shrub was in office... that's a 65% increase

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Originally posted by Zorro:

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That's not an 18% increase while Shrub was in office... that's a 65% increase

I never claimed that it was the increase under Bush. That was the increase under Obama.

So let me get this straight, it has already gone up a tremendous amount, and now it goes up another 18% and that is no big deal because it has gone up a great deal before? Are yo ufamilar with the concept of "breaking points"

How about "the straw that broke the camel's back?"

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heating one's home with oil puts one, economically, behind the eight ball... and not because Obama is President, but because your charming oil corporation "peoples" are shorting their domestic customers by exporting their product overseas.

Catch up, would you please?

The grotesque rise in home heating oil prices isn't a function of who's President or even presidential policy

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Bush/Cheney colluding with oil companies

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The economy still isn’t growing nearly fast enough to bring down the U.S. unemployment rate and to create more opportunities for people.
...
consumers are strapped: Their real disposable incomes — after-tax incomes adjusted for higher prices, that is — increased just 0.8% in the fourth quarter, which means consumers are spending more only by saving less.

Over the past year, after-tax real incomes have fallen 0.1%, while consumer spending has increased 1.6%. That is not the way to prosperity.

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So on Shrub's watch, gas prices ROSE a grand total of 248% [ (109-379)/109 = -2.47706) ] and there wasn't a single RW'r squawking when that happened.