Central New York households that heat with oil are facing difficult math this winter.
Here's what to know
As households plan their winter fuel budgets, WSYR-TV reported that NYSERDA data shows heating oil in Central New York at $6.19 per gallon, up from $3.49, a 77.3% increase.
For homeowners waiting to place an order, even a brief delay can change the bill. John Collis, a co-owner and vice president at Fred F. Collis & Sons, said the market has been "very volatile," with swings of "up to 50 cents change within one business day."
He said that unpredictability is fueling customer anxiety, since many do not know whether prices will continue climbing or start to drop during the heating season. Collis added that "a lot of it seems like it's tied to the unrest in the Middle East," pointing to broader global pressures behind local fuel costs.
More background
Higher prices do not simply translate into gains for delivery companies. Collis said local heating-oil suppliers act as middlemen rather than price setters, adding that "the rising prices really aren't good for companies or the customers."
Because the per-gallon price is up $2.70, a 200-gallon fill is roughly $540 more expensive, according to WSYR-TV. For families already juggling a long list of cold-weather expenses, the increase arrives in a single delivery.
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What's being done?
Fred F. Collis & Sons said local companies are trying to reduce the burden where they can, despite having no control over pricing.
"So we want to do everything we can to minimize the impact on our customers," John Collis noted.
Collis also said the increases are "not a benefit to the company" and that suppliers are hoping prices come down because lower costs make it easier for customers to heat their homes and plan for the season.
"They're concerned, obviously, because they don't know if they're going to keep rising or if they're going to fall this winter," Collis added.
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