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Some analysts believe prices of heating oil and natural gas will gradually slide as supply catches up with demand.
The White House tapped the petroleum reserve to try to ease supplies and prices of heating oil, a move that seemed to be having some impact until the violence began in the Middle East.
The oil shock is the culprit, and there is hope that it will end soon, with OPEC increasing production enough to bring down the prices of heating oil, gasoline and aviation fuel, and with them the inflation rate.
Traders and other energy experts warned that the recent jump would raise prices of heating oil and gasoline in coming weeks, though many were skeptical that oil would stay above $80 for long.
Consumers should brace for an increase of at least 25percentt in the prices of heating oil and natural gas this winter, with an even bigger increase if temperatures are colder than usual, a federal agency said today.
And it is all because a sharp rise in the prices of heating oil, natural gas and electricity in the last few months -- especially in the Northeast -- has thrown open the door for the return of the oldest environmental idea around: conservation.
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A plurality of voters said the high price of heating oil affected them personally.
The retail price of heating oil, while lower nationally, averages about $1.65 in New York City.
The price of heating oil for October delivery ended at $1.0179 a gallon, down 0.12 cent.
The price of heating oil for November delivery fell 6.12 cents, to $1.0161 a gallon.
Overnight, the price of heating a small apartment for the winter shot up to about $1,900 from $1,300.
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