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PRESS RELEASES
04 January 2008
HOME HEATING OIL PRICES
“There are a number of reasons for the oil price increase. We have seen unprecedented demand from the Far East, security concerns in the Middle East and Nigeria; refinery problems in the United States and the continued rise of gasoline consumption in spite of rising pump prices. These factors not only affect the price of home heating oil, but global energy costs as crude oil is used as a benchmark for all energy sources.” “While home heat prices have risen by c.33% on this time last year; crude prices have jumped by over 50%. All sources of energy are under pressure due to the rising cost of crude oil and after a period of relatively ‘cheap’ energy prices the short to medium term for energy appears high.” “As a responsible industry we are only too aware of the impact of increased energy costs and want to offer services and products that will help minimise the impact of increased prices on consumers. We are suggesting that consumers should consider using a pre-payment system such as direct debit/giro or PayPoint to pay for their fuel requirements this winter. In addition, consumers should have their system serviced by an OFTEC Registered Technician to ensure they are maximising the efficiency of the boiler”.