1. Gasoline, aviation fuel, heating oil, and diesel fuel tank farms are always located near centers of demand. 2. Heating oil is highly toxic in the short term, but it evaporates quickly, reducing the long-term damage. 3. Lagoven said its heating oil is mostly derived from its refinery at Amuay in the western state of Falcon. 4. Moreover, demand for heating oil did not meet expectations during the cold snaps over the last two months. 5. Slumping heating oil prices drove other oil prices lower as well. 6. Speculation that the cold weather increased demand for heating oil pushed prices higher in early trading. 7. Along the frozen East Coast, consumers are growing angry about the rising cost of heating oil. 8. Although Kennedy said he did not think the oil industry was conspiring to hike the price of heating oil, he said government intervention was necessary to protect consumers. 9. Already, Rep. Jim Leach, R-Iowa has asked the Federal Trade Commission to monitor the increases in heating oil and natural gas. 10. Although the summer driving season is over, which should relieve some of the pressure, any refining capacity not needed for gasoline must be shifted to heating oil. |