Heating oil prices rising

(WTNH) - After a relatively mild fall people around the state are starting to fill up their oil tanks. However if Connecticut residents haven't been paying attention they may be in shock when the bills come in. if you haven't been paying attention. The price is now the highest it's been in two years. This is all despite the fact that supplies are plentiful.

So what's the reason for the price spike? You can blame the federal monetary policy for keeping the dollar weak. The decline in the value of the dollar means, it doesn't have the buying power in the global marketplace.

"People are concerned, I think a lot of people that didn't budget their money for the winter are more concerned, a lot of people are on a budget plans which is a good idea to do, budgets start in June, right now, people are just starting to get concerned with the way the temps have dropped," Says Sal Camera of Aspen-Miller's Fuel

70 percent of households in Connecticut use oil to heat their homes. 20 percent use natural gas. The other 10 percent, use other means including electricity.