Simple, because supplies are perceived to be tightening.
Very simple. Look.
https://www.eia.gov/petroleum/weekly/crude.php
Heating oil is dirt cheap compared to what it once was.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPD2F_PRS_NUS_DPG&f=W
In addition to oil supplies being low distillate stocks are being pressured. It is colder than a well digger’s butt in the Klondike out there. Diesel is also in high demand. It is the same as fuel oil.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPD2F_PRS_NUS_DPG&f=W
Fuel oil is a terrible fuel for heating anything. Natural gas is much better and the areas that use fuel oil seem to delight in blocking natural gas development so tough if the price of fuel oil is high. Maybe it will give someone a clue about what needs to be done.
Precisely. That's how free-market capitalism works.
“Heating oil is dirt cheap compared to what it once was.”
Like H*ll it is. Way higher now than in several years. And not All Americans live in the cities where natural gas is available. You want Proof:
https://www.eia.gov/dnav/pet/pet_pri_wfr_a_EPD2F_PRS_dpgal_w.htm
And if your tank is out side then you have Use K1. You can 50 cents to those prices then.