Western NY Households Face Potential $5,000 Heating Oil Bills This Winter

The upcoming winter is expected to bring high energy costs for homeowners in Western New York, with heating oil prices skyrocketing by 67% compared to last year. According to Tom Kloza, chief energy advisor for Gulf Oil, a typical household uses around 800 gallons of heating oil during the winter months, which could translate to a $5,000 bill at current prices.

The National Energy Assistance Directors Association predicts natural gas prices will increase by 6% and electric costs by 9% this winter. However, local costs are even higher, with heating oil currently selling for $6.03 per gallon in Western New York.

Kloza attributed the high prices to tight inventories of refined products, rather than crude oil prices. This means that refineries have to balance production of heating oil and diesel with other fuels like gasoline.