Oil heating prices expected to rise

Crude oil futures settled at just under $80 a barrel. That's pushing home heating oil prices higher.

It's costing on average about $2.60 per gallon in our area. The owner of Central Oil in Chicopee said there's no good reason for the spike.

"The investment groups are manipulating and causing the market to crank up and it's uncalled for," said Marty Topor.

Topor told 22News it's believed the bubble will burst, eventually causing a 20 to 30 cent drop in home heating oil prices.