Oil Prices Sting Homeowners

The escalation of the price of oil is hurting pocketbooks this winter for many homeowners who heat with an oil furnace. According to experts there has been an average increase of 30% in oil costs in the last year. Local oil supplier Ross Turner said in an interview earlier this week that prices are set every day by the big refineries, and oil suppliers must adjust their prices accordingly. However, Turner said that it’s not the oil vendors that are making any money. “The big refineries are the ones that are getting rich!” Still, Turner said that dollar for BTU’s, clients who heat with oil are getting the best deal in comparison to other sources of energy. Natural Resources Canada advises homeowners to have an energy assessment done of their residences by an energy expert (available free of charge). They also distribute grants for the retro-fitting of furnaces and other energy sources. The Office of Energy Efficiency (OEE) has released a new and updated calculator to help homeowners determine the cost benefits of switching to high-efficiency heating systems. Two Website to check out: www.nrcan.gc.ca and www. ecoaction.gc.ca and follow the links to ecoENERGY Retrofit, or call 1-800 622-6232.