Southwestern CT contract oil customers feel burned by mild temps
(01/04/07) NORWALK ? Mild winter temperatures in southwestern Connecticut have some fixed-price oil customers wondering where their savings went.
A representative for Devine Brothers Fuel Company says overall, customers are burning about 25 percent less oil this year than last year. In addition, the current market price for a gallon of oil is $2.39. While that may have many customers smiling, some residents who signed a fixed price deal for $2.80 a gallon are starting to second guess their decision.
However, Devine Brothers representatives say fixed price contracts will likely come out as the smarter decision. They say the winter has just started, and many cold days could be on the way. In addition, representatives claim one volatile event in the Middle East could send oil prices skyrocketing by as much as 70 cents a gallon.