Analyst says prices have dropped, but hurricanes, global issues could lead to increases

Analyst says prices have dropped, but hurricanes, global issues could lead to increases

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Analyst says prices have dropped, but hurricanes, global issues could lead to increases

With temperatures in New Hampshire soaring into the 90s in the middle of summer, concerns are already turning to the winter and potentially high fuel costs.

Gas prices have been high at the pump for months, challenging household budgets. And industry analysts said more challenges could be ahead because of fluctuating oil prices.

"It's disgusting. I can't believe it," said Sandra Appleton of Manchester. "I don't know who is controlling it, but our government certainly isn't doing anything about it."

Prices have been falling rapidly lately, but they're still high, and some drivers said they can't afford more than half a tank at a time.

"It's too high," said Christian Perdomo of Manchester. "I put in before like $40, but now, I can only put in only $20."

Tom Kloza of the Oil Price Information Service has nearly 50 years of watching the market and analyzing oil prices. He said it's unclear if the recent trend of dropping prices will continue.

"We've seen a little bit of an ease back in prices, gasoline and diesel," he said. "But I fear we are going through a gauntlet here in the next 60 days — hurricanes, power problems, refineries wearing down."

Even though New Hampshire is in the middle of a likely heat wave, Kloza said it's not too early to think about the price of home heating oil, and his forecast was grim. He looked to the situation with natural gas in Europe as a barometer and called it a clear and present danger. Some are estimating prices of $7 or $8 per gallon.

"Unfortunately, I think that that is possible," he said.

One oil company employee advised Granite Staters to get on a budget plan with their oil company or start saving now and consider applying for fuel assistance as soon as possible.

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