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U.S. retail heating oil price hits record high

U.S. retail heating oil price hits record high

Write: Arthur [2011-05-20]
WASHINGTON, Jan. 3 (Xinhua) -- The U.S. residential heating oil price gained 4.0 cents last week to a record 3.34 U.S. dollars per gallon, the U.S. government said on Thursday.

The national heating oil price was up 90.7 cents from this time last year, the U.S. Energy Information Administration said in its weekly survey.

And wholesale heating oil prices increased by 2.8 cents, reaching 2.72 dollars per gallon, which was an increase of 97.4 cents compared to the same period last year, according to the survey.

Record heating oil price reflected high crude oil prices, which soared to 100 dollars a barrel Wednesday for the first time and set a new record above 100 dollars a barrel Thursday.

Meanwhile, the EIA's survey also said the U.S. average retail price for regular gasoline last week jumped 7.3 cents to 3.05 dollars per gallon, 71.9 cents above a year ago. The EIA has said the gasoline prices might peak at over 3.4 dollars per gallon the upcoming spring.