EIA: Residential Home Heating Oil Climbed 1.7cts on Week
10/17 12:36 PM
EIA: Residential Home Heating Oil Climbed 1.7cts on Week OAKHURST, N.J. (DTN) -- Energy Information Administration in its latest report for the heating season indicated the U.S. residential heating oil price average as of Monday (10/14) was $2.968 gallon, up 1.7cts on the week but down nearly 40cts from the corresponding week in 2018. The average cost for consumers along the East Coast gained 2cts to $2.984 gallon, 38.2cts below the same time last year. In New England the residential home heating oil average eased 0.1cts to $2.875 gallon for the week profiled, 41.4cts lower than the same week in 2018. Prices were mixed across states in the region, ranging from a drop of 1.9cts in Massachusetts to $2.948 gallon to a 1.3cts gain in Connecticut to $2.969 gallon. Consumers in the Central Atlantic paid, on average, $3.107 gallon, a hike of 5.1cts from the week prior but 33.5ct below the same week in 2018. In Pennsylvania the price spiked 10.1cts in the week profiled while in Maryland the price dropped 2cts to $3.414 gallon. EIA reports the average residential heating oil price in the Lower Atlantic fell 2.1cts in the week ended Monday to $2.767 gallon. In the Midwest, the residential heating oil price dropped 2cts to $2.666 gallon as of Monday, 30.3cts below the corresponding week in 2018. Prices were mixed in all states in the region with Indiana up 6.9cts while in Ohio the price slid 6.8cts. Data showed the U.S. wholesale heating oil price surged 7.2cts to $2.062 gallon as of Monday, a decline of 34.3cts from the same week last year. Along the East Coast, the wholesale heating oil average was $2.062 gallon, a 7.2cts week-over-week spike. The New England wholesale average surged 7.4cts during the week-ended Monday to $2.075 gallon while the Central Atlantic wholesale average jumped 7.1cts to $2.051 gallon and the Lower Atlantic price rose 4.2cts to $1.987 gallon. The Midwest wholesale heating oil average gained 2.1cts to $2.065 gallon, which was about 39cts lower than this time last year. (c) 2019 DTN. All rights reserved.