Weekly Heating Oil Prices Up A Penny
With some forecasts predicting a very cold and bitter winter ahead, we present our seasonal heating oil update. We will be following this closely throughout the season.
We've used data based on the Energy Information Administration (EIA), which publishes price data weekly on home heating oil in 38 states by dollar per gallon before taxes. Unlike natural gas and electricity, home heating oil is provided by independent retailers.
The latest price for home heating oil nationwide is $2.64, up a penny from last week and up 0.21 since the start of the season.
EIA's heating oil data is seasonal - from October through March. Here's a look at the series since its inception in 1990.
Another figure the EIA tracks is the residential oil supply. The chart below shows the minimal changes in residential heating oil supply since 1982.
The next chart shows the New York Harbor (NYMEX:HO) spot prices going back to 1986.
Check back next week for new data.
Here are some additional commentaries related to oil prices: