00:00You already feel the Iran war every time you fill up your gas tank.
00:03Well, it's about to hit your furnace too.
00:05Here's what's happening.
00:06Some homes don't run on gas or electric heat.
00:08They burn actual heating oil trucked in and pumped into a tank in the basement.
00:12That makes up about 4 million households,
00:15almost all older homes in the Northeast that never got hooked up to a gas line.
00:19The war hits these houses harder than it hits your gas tank
00:22because heating oil is in the same family as diesel.
00:25It's a distillate.
00:26And the Strait of Hormuz isn't just blocking crude,
00:29it's choking off refined fuel coming out of the region too.
00:32Diesel just hit a record $6.23 a gallon,
00:35and the EIA projects heating oil to ride right alongside it
00:39around $5.66 a gallon this winter.
00:42NEADA, a non-profit that tracks fuel aid,
00:45estimates a Northeast household will pay around $2,300 for the whole season, up 31%.
00:52The White House says relief comes once the war ends,
00:55but tanks are getting filled right now before it gets too cold.
00:58So if you can't just switch off oil heat, who should be footing this bill?
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