Heating oil price rises

30/12/2008

The trading price of heating oil has climbed since Christmas, it has been reported.

Online resource Rig Zone reports that heating oil commodities stood at $1.237 per gallon (£0.845 per gallon) on Boxing Day (December 26th) - an increase of $0.0387.

The article also noted that trading on the New York Mercantile Exchange was shortened due to the Christmas holiday.

Elsewhere, crude oil commodities rose over the course of the same period to $36.20 per barrel, a gain of some 85 cents, while reformulated blendstock gasoline rose 0.0183 cents to 81.1 cents per gallon and natural gas prices fell 0.078 cents to $5.832 per million British thermal units.

However, Boxing Day also saw prices decline at the pump, with AAA noting that the average price of regular unleaded petrol was lower at $1.642 per gallon against $1.648 a gallon.

Meanwhile, the Malaysian government is set to use revenue from the oil and gas industry to channel investment into training and development, national news agency Bernama recently reported.