As the U.S. war against Iran continues to send energy prices surging, a growing number of Americans are struggling to lock in rates for heating this winter, with one Vermont heating fuel company revealing just how steep the price increases may get.
“A lot of families are going to be very cold this winter,” journalist Ryan Grim warned Friday in a statement published on social media.
With the months of disruption to the Strait of Hormuz, coupled with the recent disruptions to the Bab al-Mandeb Strait, crude oil prices have skyrocketed in recent weeks, which directly impacts the cost for Americans — primarily in the Northeast — to heat their home using heating oil.
Several media outlets have reported on the Americans’ struggles in the Northeast amid the Iran war when deciding how to plan for winter heating, but on Friday, Grim published a note excerpt that shed new light on how dire the supply crunch has become.
The note, which Grim identified only as being from a Vermont heating fuel company that was family-owned, and thereby offered “more transparency than a normal company might,” hinted at how little supply was available to heating fuel companies.
“After purchasing fuel futures for more than 25 years, I was able to secure only about 25% of our estimated needs for this season,” the note excerpt reads.
“Once the market stabilizes, we intend to bring back a pre-buy program that works in your favor — but offering one under current conditions would carry significant risk for both you and us, which is why we are not doing so at this time. This decision was not made lightly, but it is necessary to ensure continued supply for all of our customers."
ABC affiliate WMUR previously reported that New Hampshire residents were facing similar hurdles, with some local companies no longer offering customers the ability to purchase lock-in rates for the winter, some of which said it was “too risky” to do so.
“The inventories are the lowest they have been in the last 45 years right now,” warned Massood Samii, former OPEC economist and professor at Southern New Hampshire University, speaking with WMUR for its report. “So if this continues, that's going to put pressure on the price going up.”
Home heating oil companies in at least several New England states are telling customers they cannot lock in a price this winter because of volatility and supply problems.
This below is from a note one Vermont company just sent to customers. It's a family-owned company, and many… https://t.co/7vrZ9UNuC9 pic.twitter.com/UhTLYyHE9A
— Ryan Grim (@ryangrim) September 18, 2026
