Heating Oil Prices Soar as Global Supply Chokes

A spike in heating oil prices is leaving residents of Western Pennsylvania facing higher costs to keep their homes warm this winter. For Sam Avampato, a 73-year-old Hunker resident who has heated his home with oil since 1977, the price increase is staggering. 'The most I've ever paid was $4.12 a gallon,' he said, adding that his current quote of $5.99 per gallon is nearly double what it was last year.

Avampato's experience is not unique. According to the National Energy Assistance Directors Association, heating oil prices are expected to rise by 31.3% this winter, far outpacing the price increases for natural gas (5.8%), propane (8.7%), and electricity (9%). Export Fuel Co. General Manager Kristen Zawoyski said that the global supply of oil has been affected by the ongoing conflict with Iran and the closure of the Strait of Hormuz, leading to higher prices.

Suppliers are also warning customers about the potential for shortages and price volatility. Dell Cromie, owner of Glassmere Fuel Service in West Deer, noted that many customers who normally would be placing orders are instead seeking advice on what to do.