Massachusetts Heating Oil Prices Soar to Record Highs

Massachusetts residents are bracing for record-high heating oil prices this winter. According to the Massachusetts Department of Energy, home heating oil is averaging a record $6.15 per gallon statewide, up over 70% from last year.

The high cost of heating oil is adding to the financial burden on many households in New England, where about 82% of those using heating oil reside. AAA Northeast spokesperson Mark Schieldrop noted that this region has 'much higher electricity rates than many other states' and that home heating oil was once a relatively cheaper option for homes built in recent decades.

Schieldrop attributed the record-high prices to several factors, including low domestic distillate supplies due to decreased output from Russia and the Middle East. The approaching winter and harvest season are also driving up costs.