Heating oil company to pay $100,000 for alleged overcharges

A Connecticut heating oil company has agreed to reimburse consumers up to $100,000 after the state's department of consumer protection accused it of engaging in unfair billing practices during the 2008-2009 billing season.

Based on more than 40 consumer complaints, Phoenix Oil, LLC of Stonington, Conn., allegedly deceived its customers by failing to bring down prices when the market for heating oil went lower. Despite contractual obligations that required the company to adjust rates when the price of oil did drop that season, it continued to bill at the higher cap price.