Are Record Oil Prices Set To Torture Consumers?

SAN FRANCISCO
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“Consumers should be worried,” said Alaron’s Flynn. “We’ll be keeping our fingers crossed that we’ll meet demand this winter” for heating oil.

“The margin for error going into the season is going to be very, very thin,” he said.

Indeed, many analysts see heating oil supply levels as a problem to keep a close watch on.

“Each winter for the last five years or so, we’ve continued to operate without a safety net in so far as heating oil goes, and this year is not an exception,” said Tom Kloza, chief oil analyst at the Oil Price Information Service.

Futures prices for heating oil are already at an all-time high.

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