New Yorkers Pay Record Prices to Heat Homes in Winter Freeze
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New Yorkers are paying record prices for heating this month as cold weather and natural gas restrictions boost demand for oil, draining supplies already at the lowest in more than two decades on the U.S. East Coast.
Residential heating oil in the state of New York surged to $4.482 a gallon on Feb. 3, the highest in data going back to 1990, according to the U.S. Energy Information Administration. Prices have risen 25.4 cents this year. Across the U.S., the fuel averaged $4.241 a gallon, also a record.