Home Heating Oil Prices Increase As Temperatures Drop
PHILADELPHIA (CBS) - Home heating oil costs are increasing as the weather gets colder.
Homeowners are paying a lot more to heat their homes than they did this time last year. According to Joseph Crescenzo, the owner of Crescenzo Oil, LLC, his company has been receiving requests for deliveries of only 100 gallons of oil as opposed to the 300 to 400 gallons they typically deliver to households.
"It's all people could really afford right now," said Crescenzo.
As temperatures continue to fall, homeowners will have to pay up to 44 cents more per gallon. This year, heating oil prices went up to $3.09 per gallon from $2.65 per gallon in 2009.
"It's 44 more cents people have to come up with. I don't think people are getting raises. Everybody is on a fixed income. It's just the way the economy is," said Crescenzo.
John Hoagland of Egg Harbor Township believes this is a great way to practice saving. He heats his home the old fashioned way – using wood. He has been chopping his own wood for his family and neighbors for years.
"Oil heat is very expensive and gas is your best alternative pricewise," Hoagland said. "The wood, if you could do it yourself, is a big savings."
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Reported by Cydney Long, CBS 3
