Oil executive warns of 'perfect storm' coming for home heating prices
Apple Oil president Sam Livieri discusses the growing concerns about heating costs as winter approaches
Oil executive Sam Livieri issued a stern warning to Americans on the ability to heat their homes as winter draws closer. Livieri said Tuesday that with a low supply of heating oil, the country could see a "perfect storm," particularly in New England.
Livieri, president of Connecticut-based Apple Oil, agreed with "Fox & Friends" co-host Steve Doocy that the situation has become an emergency.
States in the Northeast are reportedly already rationing heating oil as prices rise.
"There’s no heating oil," Livieri said Tuesday. "Our supplies are low, and we have high prices."
HEATING YOUR HOME WILL BE $166 MORE THIS WINTER. HERE'S WHY
Lucinda Tyler and Aaron Raymo sit outside their home with fuel containers they used to fill their heating oil tank at their home, Wednesday, Oct. 5, 2022 in Jay, Maine. The couple shopped around for the best prices and bought heating oil 5 gallons at a time throughout the summer whenever they had any extra money. (AP Photo/Robert F. Bukaty)
He called on federal and state leaders to take action on ramping up supplies while the weather is still mild.
Livieri said prices are roughly 40% higher than in 2021 and are expected to skyrocket when demand reaches its peak in the winter months.
Penquis CEO Kara Hay told Fox News the skyrocketing prices accompanied by general inflation have left residents of Maine questioning whether they’ll be able to keep their homes warm through the winter.
"We always hear from our struggling neighbors, friends and family members about winter and how hard it is, but we've not heard concern like we are hearing this year," Hay said. "And what we're hearing is 'We don't know how we're going to make it.'"
Livieri said the high costs are "detrimental," particularly for the elderly and people on fixed incomes. A 275-gallon tank, he estimated, currently costs consumers more than $1,100 to fill.
"People are dumbfounded [seeing their bills]," he said.
Livieri said he’s working to accommodate those who can’t afford to fill their entire tank at once.
"A lot of people want short fills," he said, explaining that customers on fixed incomes have asked for small deliveries of oil to keep their homes warm until their next check comes through.
Livieri touted his family-run company’s record of providing heat for New England, but noted that the supply situation is becoming dire.
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"We don’t want anyone to go without heat," he said.
"In January, unless we get some replenishment of supply, we’re looking at a cold month."