Granite State Times

The cost of fuel in New Hampshire is showing no signs of slowing down its sharp climb. The entire New England area has recently seen a sharp increase in the cost of oil, but New Hampshire is uniquely expensive: The cost of heating oil has grown 82.12% in the past 12 months. Now, with midterm elections approaching, political candidates are fine-tuning their messaging around this issue to shift blame toward their opponents.

According to Politico, the crisis around inflation and especially fuel costs will be a decisive factor in the midterm elections this November. Democratic leaders have pointed to oil companies to explain the unprecedented inflation; this article calls into question whether that blame shift will be convincing to voters in November.

According to ycharts data from the U.S. Energy Information Administration, the cost of heating oil in New Hampshire has been found to jump 82.12% in the last year.

The average cost of heating oil in the greater New England area has increased 71% in the last year – not quite as much as New Hampshire, but still a dramatic jump, WOKQ 97.5 reported. 

The current levels of U.S. oil reserves in the Strategic Petroleum Reserve stocks have been depleted by more than 33% in the past 12 months.

President Joe Biden has plans to further tap into American oil reserves, with plans to authorize the release of up to 15 million more barrels before the end of the year, Politico reported. This authorization is a direct response to OPEC’s recent decision to slash production, but is also consistent with a long-term struggle to drive down the price of oil.