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Cold Winter Forcing Heating Oil Prices To Rise

There is cold news and bad news for Long Islanders.

The cold news is weather experts say there is more frigid weather headed our way. The bad news is that experts say as the mercury drops the cost of heating a home or office will continue to increase.

According to the state Energy Research and Development Authority, Long Island heating oil prices have gone up nearly 5 percent in three weeks. The $3.056 a gallon rate is the highest retail average on the Island in more than a year. Those are similar increases being felt throughout the Northeast.

U.S. Senator Charles Schumer has scheduled two press conferences today calling for the release of emergency federal home heating aid to help seniors and low-income families deal with the high winter heating bills. He will appear at the Goddard Riverside Community Center in Manhattan and later at the Mount Kisco Senior Center.

While right now the supply of home heating oil is adequate, experts are concerned that higher demand could change that.

The news for customers who heat with gas is better. National Grid says the average residential customer is paying 12.5 percent less this winter than last.

Copyright © 2014, The Baltimore Sun