Oil Prices Could Spike, Company Warns

The first frost of the season will be here soon enough and local oil companies are encouraging people to get their orders in sooner than later as oil prices could spike. 

“It’s still under $3 a gallon, so take it while you can,” Michael Campbell, of Barney Barker Oil Company in Newington, said. 

Campbell said the price of a gallon of oil is unpredictable and many factors are at play, such as sanctions on Iran, which would drive up demand. 

”There’s a lot of things going on right now with the restrictions on Iran pumping oil. We have hurricane season that’s going on, so my suggestion is, get it while it’s hot,” he said. 

Campbell said in his eight years in the business, he has seen highs and lows. 

“It has risen above $4.50 a gallon before, and then, conversely, it’s also dropped out and dropped down to under $2,” he said. 

He explained that close to 40 percent of homes in Connecticut use oil, which is why he urges his customers to get their orders in before the first cold snap. 

“The first day of like probably 20-degree weather the phone is like off the hook. It’s crazy!” he said. 

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