Story perspectives
Energy Crisis: Soaring Oil Prices and New Hydropower Line
3/20/2026
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Story summary
- March 20, 2026, a report highlighted a 339-mile transmission line delivering Canadian hydropower to New York City and plans to retire subway cars.
- Oil prices surged to $118 per barrel amid ongoing Middle East conflict, fueling a global energy crisis.
- Heating oil prices averaged $5.64 per gallon, up $1.64 from a year earlier.
- Gasoline prices in New York City rose to $3.79 per gallon, up 81 cents in one month.
