With oil futures nearing $97 a barrel, the price of home heating oil is rising this winter, following record gas prices. A fuel service made a residential delivery in Guilderland, N.Y.
But this year, high oil prices are upsetting that seasonal rhythm. Prices at the pump are climbing fast, bringing back memories of summertime gasoline bills.
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The national average for regular gas surpassed $3 a gallon this week, and drivers could be paying record prices this holiday season, experts said. The timing of such an unusual jump could crimp consumer spending at a vital time for retailers.
‘Usually Americans have more money to spend each holiday season because gasoline prices tend to give up 25 percent of their value after summer,’ said Tom Kloza, an analyst with the Oil Price Information Service. ‘But this year there is a second coming of the gasoline rally that may be the Grinch that stole Christmas.’

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