Oil reaches $100 a barrel: Five winners, five losers

With gasoline now at $3.37 per gallon – 20 cents higher than last week, and rising daily – who is profiting from higher prices and who is not?

Loser: Northeasterners who use home heating oil

Some 7.3 million residents in the Northeast used home heating oil this winter, estimated the Energy Information Administration. In Connecticut, as of Feb. 21, heating oil was retailing for $3.78 a gallon – up 90 cents a gallon over last year – according to the state’s survey of prices.

A typical fill-up, which happens about three times per winter, takes 185 gallons, according to the National Oil Heat Research Alliance in Washington. With oil at $100 a barrel, each fill-up costs $166.50 more than last year.

“Thank goodness the home heating season is almost over,” says Neil Gamson, an energy analyst at the EIA in Washington.

8 of 10
You've read  of  free articles. Subscribe to continue.