NORTH AMHERST, Mass. (WWLP) - As we approach the colder months, crude oil’s trading is at more than $106 per barrel.
Experts say the price of oil continues to fluctuate, amid growing tensions in Syria and the Middle East.
When it comes to the price of home heating oil, Robert Kieras is an expert.
“Our prepaid is about a $3.56 a gallon. Our current cash price is $3.34 a gallon. If the prices don't go up there wouldn't be any savings. Last year, prices went up to $3.80 a gallon,” said the owner of Kieras Oil on Monday.
Kieras co-owns a heating oil company in North Amherst which services about 3,500 customers a year. Federal numbers show the price of crude oil has gone up $10 per barrel since this time last year, but homeowners aren't the only ones footing the bill.
Heating oils helps dairy farmers at Mapleline Farms; pasteurize the milk produced by their cows.
“The oil is what we use to heat the water and generate the steam that's used in pasteurization and washing process of all of the equipment,” said the farm’s owner, Jonathan Kokoski.
Kokoski says they can use up to 400 gallons of heating oil a month. “Equipment uses fuel as such a rapid rate. There's not much you can do.”
Kieras does expect prices to go up this year. He says a good way homeowners could save on heating oil is by replacing old windows and upgrading insulation.