Mass. residents heating oil bill forecast to hit $3,000

This year, the cost of heating oil is on the rise. The average 2009 oil bill for a Massachusetts household could top $3000 a month. This is a 30% increase from 2007. This year, residents could be paying $1 billion more in heating than in 2007, a very scary thought for a person working from paycheck to paycheck.

The price of oil, and this winter's temperature will hopefully contribute to a drop in price as the temperature drops.

"Maybe the people who are very, very wealthy won't bat an eyelash," says Joseph P. Kennedy II, chairmain of the Boston-based non-profit Citizens Energy Corp to the Boston Globe.

"But for the regular people who are working from paycheck to paycheck and week to week, and don't have anything in the bank account, this is devastating." Kennedy's company provides discounted oil to senior citizens and low-income residents.