People in Massachusetts who heat their homes with oil are feeling the pain from rising prices caused by Russia’s invasion of Ukraine.The average price for heating oil is now $5.02 per gallon, which is a drastic increase from the price of $2.87 per gallon at this time last year.Nina Lafferty, of East Freetown, is one Massachusetts resident who experienced sticker shock when the bill from her recent automated home heating oil delivery came in.On Jan. 27, Lafferty was billed for $639.39 when 183.6 gallons of oil were delivered to her house at $3.4825 per gallon.On Tuesday, she was billed $819.87 for 20.1 fewer gallons of oil (163.5 gallons) she received in late January with a price of $5.0145 per gallon.”You keep hearing about the pain at the pump, but this is, to me, much more drastic an impact on people’s livelihood and wellbeing and ability to pay their bills,” Lafferty said.Michael Ferrante, president of the Massachusetts Energy Marketers Association, said the high home heating oil prices are the result of a trickle-down effect from uncertainty higher in the oil supply chain caused by the conflict in Ukraine. “The crisis in Ukraine has truly put energy prices in a whole new prism,” Ferrante said. “We’re seeing prices we have never seen before. Crude oil prices are at historic highs.”Luckily, the price of crude oil did fall a bit on Wednesday to $110 per barrel from $123 per barrel a few days ago. Ferrante said that it could take some time, however, before consumers see the effects of that slow drop in prices.
People in Massachusetts who heat their homes with oil are feeling the pain from rising prices caused by Russia’s invasion of Ukraine.
The average price for heating oil is now $5.02 per gallon, which is a drastic increase from the price of $2.87 per gallon at this time last year.
Nina Lafferty, of East Freetown, is one Massachusetts resident who experienced sticker shock when the bill from her recent automated home heating oil delivery came in.
On Jan. 27, Lafferty was billed for $639.39 when 183.6 gallons of oil were delivered to her house at $3.4825 per gallon.
On Tuesday, she was billed $819.87 for 20.1 fewer gallons of oil (163.5 gallons) she received in late January with a price of $5.0145 per gallon.
“You keep hearing about the pain at the pump, but this is, to me, much more drastic an impact on people’s livelihood and wellbeing and ability to pay their bills,” Lafferty said.
Michael Ferrante, president of the Massachusetts Energy Marketers Association, said the high home heating oil prices are the result of a trickle-down effect from uncertainty higher in the oil supply chain caused by the conflict in Ukraine.
“The crisis in Ukraine has truly put energy prices in a whole new prism,” Ferrante said. “We’re seeing prices we have never seen before. Crude oil prices are at historic highs.”
Luckily, the price of crude oil did fall a bit on Wednesday to $110 per barrel from $123 per barrel a few days ago. Ferrante said that it could take some time, however, before consumers see the effects of that slow drop in prices.