February 14, 2013 NEWDAY ARTICLE - Direct Link to Post
Posted by Midnight Heating Services on 2/25/2013 at 8:33AM.

Heating oil hit a record on Long Island this week, averaging $4.379 a gallon, the highest ever during a heating season, the state said.
Meanwhile, regular gasoline nudged to within a hair's breath of $.4 a gallon yesterday, the AAA said, up another 5.8 cents from a week earlier.  The average, $3,998. a gallon is up almost 24 cents from the recent low of $3.762 on December 26th.   Regular gas hasn't averaged $4. or more a gallon since Nov 21, in the aftermath of superstorm sandy.
About  two thirds of Long Island homes heated with oil.  The average home uses about 880 gallons a year, according to the Oil Heat Institute of Long Island.  The average cost now to fill a typical homeowner's 275 gallon tank is $1,195.
The average price is based on a survery of full service dealers by the state Energy Research Development authority.  Mondays figure was the highest snce August 11, 2008 when the average was $4.411 a gallon - a time when few Long Islanders would buy heating oil.  The record in 2008, as crude oil briefly topped $140 a barrel.
Monday's average also was 12.5 cents higher than a year earlier.
Until this month, this season's relatively warm weather provided the Island's home owners som relief; although temperatures were colder than during the previous heating season, they average almost five degrees above normal in December and 2.5 degrees above in January, said the National Weather Service.
Temperatures this month, however, have averaged three degrees below normal. The rising cost of gasoline and heating oil are due largely to higher crude oil prices, experts say - especially the foreign grades of crude used in production of much of heating oil and gasoline refined in this region or imported from Europe to the East Coast.
Meanwhile, many refineries here and abroad are idled for maintenance and repairs.  We are now at the peak of maintenance season, "said analyst Andy Lipow, president of Houston consulting company lipow Oil Associates LLc.  He predicted that the facilities would be coming back on line in comng weeks, increasing fuel supplies and probably reducing prices.
John Maniscalco, chief executive of New York Oil Heating Association, said supplies of heating oil and nearly identical diesel fuel have been tight since Sandy struck Oct. 29 because of the heavy use of diesel fuel to power emergency electrical generators. 
 
 
 
 
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