Heating oil has never been more expensive. And the record-high price is coming at precisely the wrong time.
At one station in Port Carbon, the price for a gallon of residential heating oil over the weekend was $5.49.
That price in Port Carbon is about 6 cents more than the latest Pennsylvania average price, according to the US Energy Information Administration (EIA). And the Pennsylvania average price, $5.43, is a dime higher than the current nationwide average price for heating oil, $5.33.
Historically, the price of heating oil during the Fall and winter seasons is lowest during October. So those that heat their homes and businesses with oil may want to consider filling their tanks now before the price gets any higher.
EIA has been tracking the average cost of heating oil since at least 1990. Prices are tracked from October through March.
Only once before did the price of heating oil approach $5 a gallon during the peak use seasons. That was back in March, when the average price in Pennsylvania was $4.95 a gallon.