BUSINESS

Heating oil consumers to pay more this month than a year ago

CHRYSSA LIAGGOU

TAGS: Energy

Households that still rely on heating oil look set to be hit with a rate hike of about 4.3 percent from a year ago when the sale period begins on October 15.

Based on the course of global oil rates, the retail price of the commodity in mid-October will range between 96 and 97 cents per liter, against just under 93 cents in October 2016, and 97 cents when the last season drew to a close in April 2017.

There is also uncertainty regarding who will be entitled to the heating oil allowance this winter, given that funding for the season according to the draft budget has been halved.

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