Residents in Newfoundland and Labrador who rely on oil for heating are facing significant financial strain as fuel prices continue to rise. Jack Whelan from St. John’s expressed his dismay at the escalating costs, having paid around $900 on his last bill and bracing for the next refill. Walter Harding also felt the pinch, spending about $2,000 on a recent tank fill-up, estimating a $500 increase in his bill.
Harding shared that the rising prices are taking a toll on household budgets, with a substantial portion of income going towards heating fuel expenses. To cut costs, he has resorted to reducing the thermostat from 19 C to 16.5 C, wearing extra layers, utilizing residual heat from cooking by leaving the oven door open, and selectively heating parts of the house.
The price of furnace oil fluctuated between $1.95 and $2.14 per liter, marking a 74-cent increase between January 9 and March 26. The Public Utilities Board made multiple price adjustments in March, attributing the volatility to changes in market prices used for calculations. Comparing to the previous year, furnace oil cost 70 cents more per liter on Thursday.
Whelan described the price fluctuations as unpredictable, heavily influenced by geopolitical events in the Middle East like the recent closure of the Strait of Hormuz by Iran. The impact has been felt by seniors as well, according to Sharron Callahan, the executive director of the N.L. Public Sector Pensioners’ Association, who highlighted the challenges faced by seniors trying to manage escalating heating costs.
Callahan, like many others, anticipates a significant increase in her heating bill, emphasizing the various ways seniors are coping, such as keeping their homes cooler, wearing extra clothing, spending more time out of the house, or even moving in with family during winter. Whalen echoed the sentiment, mentioning that he has curbed his driving to save on expenses, emphasizing the importance of finding ways to reduce costs without compromising comfort.