# No. 2 Heating Oil Prices Up To$2.10/Gal: Speculators To Blame?

**URL:** https://boards.straightdope.com/t/no-2-heating-oil-prices-up-to-2-10-gal-speculators-to-blame/269455
**Category:** Great Debates
**Created:** [October 15, 2004, 8:56pm UTC](https://boards.straightdope.com/t/no-2-heating-oil-prices-up-to-2-10-gal-speculators-to-blame/269455 "2004-10-15T20:56:52Z")
**Posts on this page:** 1
**Page:** 1

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### Author: ![ralph124c](https://avatars.discourse-cdn.com/v4/letter/r/8797f3/32.png) [@ralph124c](https://boards.straightdope.com/u/ralph124c)
#### Post date: [October 15, 2004, 8:56pm UTC](https://boards.straightdope.com/t/no-2-heating-oil-prices-up-to-2-10-gal-speculators-to-blame/269455/1 "2004-10-15T20:56:52Z")

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Here in the NE, the heating season is starting…and I was shocked that my contracted delivery service now wants $2.10/gallon-that is more than gasoline!  
I know that suppliesof crude oil are tight…but how can No.2 distillate jump almost $0.40 in a few weeks?  
Anyway, I am reluctant to sign a contract at this price level…I think prices will drop as more refineries shift over from gasoline to heating oil.  
How much oil would I have tobuy on the Chicago Mercantile Exchnage, to hedge a price for myself?