MA Heating Oil Prices Rise in New Year

January 6, 2010

Massachusetts - cold weather during the second half of December and the first week of January 2010 have created high demand for home heating oil in the new year. Massachusetts home heating oil prices have risen approximately $0.10 between Christmas 2009 and the first week of January 2010.

Prices for home heating oil in Massachusetts for the first week of 2010 are approximately 20% higher than the same period a year ago, (in 2009).

While prices ran steady throughout most of December (2009), a $0.10 to $0.15 increase occurred in the first few days of 2010. Heavy holiday travel coupled with multi-day snow storms, bitter cold weather and two arctic blasts that spread across most of the US for week long cold-snaps did not help consumers much at the gas pump, or at when it came to filling heating oil tanks.

While prices are expected to rise as Massachusetts home owners hunker down for the mid-winter cold, they can take some comfort in knowing that at an average of $2.88 per gallon, (with some dealers selling as low as $2.50), prices are still considerably lower than many felt the price of oil could go in 2009.