Strait of Hormuz Blockade Sends Heating Oil Prices Soaring in Western Pennsylvania
A global oil supply pinch is driving up heating oil prices in Western Pennsylvania, making it difficult for residents to afford home heating costs.
The price of heating oil has spiked to $5.99 per gallon, a staggering increase from the typical range of $2 to $2.50 per gallon, according to Kristen Zawoyski, General Manager of Export Fuel Co.
The closure of the Strait of Hormuz, which accounts for one-third of the world's global oil supply, is largely responsible for the price hike. The strait has been blocked since the conflict with Iran began in February, causing a ripple effect on international markets.
Sam Avampato, a 73-year-old resident of Hunker, is bracing for a difficult winter, as he will likely have to pay more than $1,600 per year for heating oil, up from his typical annual cost of around $550. 'The most I've ever paid was $4.12 a gallon,' Avampato said.