Letter to the editor: Heating oil suppliers are making a fool of ratepayers

Heating oil dealers in the Portland area are engaging in shameless price gouging. On Nov. 30, the NASDAQ closing price for heating oil traded in large lots was $1.834 a gallon. The lowest price for delivery in Portland that day was $2.789 a gallon, a difference of 95.5 cents. Normally, this gap between wholesale and […]

Heating oil dealers in the Portland area are engaging in shameless price gouging.

On Nov. 30, the NASDAQ closing price for heating oil traded in large lots was $1.834 a gallon. The lowest price for delivery in Portland that day was $2.789 a gallon, a difference of 95.5 cents. Normally, this gap between wholesale and retail does not exceed 50 cents historically.

The local gasoline price is $2.329 a gallon for a more highly refined and heavily taxed product, while heating oil is not taxed.

I am contacting my state senator and representative requesting this be investigated, and I urge all heating oil consumers to stand up against this price fixing.

John Riley

Falmouth

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