Senator Collins Urges Trump to Release Northeast Heating Oil Reserve as Prices Surge 74%

Senator Susan Collins called on President Donald Trump to release supply from the Northeast Home Heating Oil Reserve to curb rising costs driven by the Iran and Russia-Ukraine wars, according to a Tuesday letter co-signed with independent Senator Angus King. Maine heating oil prices rose 74% year-over-year as of last week, per the state Department of Energy Resources. The reserve holds just over one million barrels across New York, Connecticut, Massachusetts and Maine — under 1% of the 108 million barrels of diesel-like fuels in US commercial storage, EIA data show. US distillate supplies sit at record lows for this time of year, with East Coast stockpiles near all-time lows. National diesel prices reached a record $6.53 a gallon, AAA reported.