Massachusetts Heating Oil Prices Soar by 70%

Heating oil prices in Massachusetts have skyrocketed by nearly 70% over the past year, reaching an all-time high of $5.98 per gallon as of September 14.

The price surge is largely attributed to record-high crude oil, gasoline, and diesel costs, with the Northeast region being hit particularly hard.

According to Mark Wolfe, executive director of the National Energy Assistance Directors Association (NEADA), the U.S. war in Iran and the Russia-Ukraine conflict are major contributors to these high prices.

The average price of heating oil has increased by $548 per household this year compared to last year, despite projections of a warmer winter due to El Niño.