U.S. heating oil price hits high for season-govt
* High heating oil price due to rising crude oil
* Avg heating oil price up 23 cents since Oct. 1
* Washington, DC, has highest price, Nebraska cheapest
By Tom Doggett
WASHINGTON, Nov 4 (Reuters) - The U.S. average residential heating oil price reached its highest level so far this heating season, the Energy Department said on Wednesday, thanks mostly to expensive crude oil.
The nationwide heating oil price increased 1.2 cents over the last week to $2.73 a gallon, down 25 cents from a year ago, according to the Energy Information Administration's weekly survey of heating fuel costs around the country.
Heating fuel prices have risen 23 cents since the U.S. heating season began on Oct. 1 due to high crude oil prices, which represent about 60 percent of the cost for heating oil.
Expensive crude oil is pushing up prices for refined petroleum products across the board, as the retail costs for gasoline and diesel fuel also hit highs for 2009 this week.
The price for crude CLc1 topped $81 a barrel in Wednesday trading at the New York Mercantile Exchange. Continued...
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage




India
US
UK







