Oil prices

How the Ban on Russian Oil is Impacting the Cost of Heating Your Home

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Just like gas prices, the price of oil to heat your home has gone up dramatically with the state average now at more than $5 a gallon.

"I am paying $1,090 on my last month to fill up oil in my house," said Chris Kozikowski, who lives in Bristol. "We are keeping the thermostat at 70 degrees and that'll last me about three to four weeks."

Phil Jackie also tells NBC Connecticut the struggle to heat his home is at an all time high.

"For a half a tank, we're paying $570, it's ridiculous," said Jackie. "I have to pay the mortgage and you have to add on another $1,000 on top of that, it's insane."

For perspective, a fill-up of 100 gallons of oil would've cost you $290 in 2021. As of today, that number has jumped to $508, according to the U.S. Energy Information Administration.

Anthony Bagliore is the owner of Tony's Oil Company and mentions that he's never seen the market rise to these prices.

Bagliore tells NBC Connecticut that he's seen an uptick in new customers and complaints about the prices due to impacts from COVID-19 and the worldwide impact of the Russian invasion in Ukraine.

"Prices tend to be all over the place," said Bagliore. "What we’re trying to do help is people during this crisis, we usually have a $100 minimum on delivery for our immediate delivery area, so we’re suspending our minimum delivery for people.”

It's a gesture homeowners appreciate, given that the average of oil price in the state is $5.08 per gallon which is an increase of more than a dollar per gallon in the last 10 days.

“It’s a business but I mean I care about the people out there, I don’t want to see people get hurt any more than they have to," said Bagliore.

In the last 10 days, the price per gallon has jumped by more than a dollar and there are some organizations working to help customers offset those costs by sharing a few tips.

Patricia Monroe-Walker is the director of energy assistance with the Community Renewal Team. The organization works to help homeowners and those who struggle to pay their energy costs by connecting them with vendors that may offer lower rates.

If you heat your home with electric or gas, CRT mentions that they just need a current bill.

"We can help them with the deliverable fuel, even for those households who are heating with utilities, gas or electric, we can help them," said Monroe-Walker. "We just need people to know that we are here, we are here to help.”

The helping hand during the rise in energy costs is coming from energy companies like Eversource. The company is working to inform their customers about the best practices to cut back on some costs.

"Open the blinds, let the heat stream in, seal up the drafts around the house," said Mitch Gross, a spokesperson with Eversource. "You can also use advance power strips, these devices can decrease your usage by more than 20% or even more."

One final tip from Eversource is to program your thermostat to come on at times when you know you're going to be away so the heat isn't being used as much when you aren't home.

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