BOSTON -- Investors are buying oil futures -- speculating the price may go up. But how does that affect the consumer?

NewsCenter 5's Pam Cross reported that the price of home heating oil in New England is steadily rising.

"The price of oil and natural gas is on the high side because of speculation of the cold weather in the Midwest," said Scott MacFarlane, of MacFarlane Oil.

By the time the delivery truck is finished, the hose is the only thing receding. A lot of factors push up price.

Last year at this time, MacFarlane was selling heating oil at $2.69 per gallon. Right now, each gallon is $3.09. The price dealers pay has gone up even more. Analysts point to problems in the Middle East, the weak dollar and speculation by investors wanting to make a buck. Oil shortage is not a factor.

"The supplies are plenty adequate for the winter, but a lot of it is fueled by speculation. That does drive it up based on demand," MacFarlane said.

Nearly one-third of homes in the region use heating oil -- though residents are using less.

"We've seen the average person who used to buy oil, used to be 1,200 gallons a year. Now it's more like 700-800 gallons a year, so people have tightened up their windows," MacFarlane said.