High oil prices are taking an extra bite out of your wallet at the gas pump and an analyst for the Iowa Department of Natural Resources says you’ll also notice the impact on your heating bills. Energy analyst Jennifer Moehlmann says heating oil prices last month reflect the volatile oil market too.She says it was up 19 cents from last month to one-dollar and 79-cents-a-gallon, the highest price reported. Moehlman says natural gas, Iowa’s most popular heating fuel, also saw an increase in price.She says it was up 73-cents higher than last month and 23-percent above the price last year. She says we usually see a spike in natural gas prices at the end of the season. Moehlman says 67-percent of Iowans heat their homes with natural gas. Moehlman says there is some positive news when you look back at predictions at the start of the winter heating season. She says they’d predicted heating costs would be 21-percent high this season, but they were only 16-percent higher. One product has benefited from the high oil prices as sales of ethanol-blended gas are up. She says ethanol is generally three to four cents cheaper at the pump and she says that’s showing, as 70-percent of the gas purchased last month was ethanol blended. For the full review of the gas and heating fuel survey, surf to:www.iowadnr.com.
Iowa's Radio News Network
