Economic Reports

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Heating Oil Prices to Rise As Industry Is Criticized

HEADING into snow season, heating-oil inventories stand at half last year's levels and 40 percent of 1994 levels, according to Citizen Action. The consumer group warns that refiners' failure to boost inventories may cause a spike in heating-oil prices this winter.

Energy Secretary Hazel O'Leary, after a meeting Friday with oil executives, ruled out government intervention in the oil market. Industry and government analysts predicted consumers will pay at least 10 cents a gallon more this year than last. Refiners said they are making "extraordinary" efforts to boost supply and they do not expect shortages.

Recommended: Cheapest way to heat your home? Four fuels compared.

- Staff, AP

How Teens Spend!

TO parents, it may come as no surprise, but the numbers are in: American teenagers spent almost $109 billion last year, including family money as well as their own, according to a survey of 2,000 12- to 19-year-olds by Teenage Research Unlimited, published in the August issue of About Women & Marketing. Cash came 46 percent from parents "as needed," 29 percent from allowances, 26 percent from part-time jobs, and 11 percent from full-time jobs.

- Staff

Business Travelers Face Cost Control

WITH air fares and other travel costs rising, companies are tightening spending rules on employees who travel, according to American Express Travel Related Services Company in New York. Among the firm's research findings: Most companies rely on travel policies to control costs; privileges for senior executives are waning; 78 percent of firms require workers to take the lowest logical air fare available, up from 69 percent in 1994; 37 percent require Saturday-night stayover when it will reduce the air fare.

- Staff

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