Weekly Heating Oil Prices: Season Opener
Here we present our first seasonal heating oil update.
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.
We present our first seasonal heating oil update of the season which we will be following this closely throughout. The latest price of home heating oil nationwide is $2.67, slightly higher than the end of the 2016-2017 season, which was $2.58.
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: