Source: U.S. Energy Information Administration, State Heating Oil and Propane Program
The U.S. Energy Information Administration's State Heating Oil and Propane Program
(SHOPP) collects state-level residential heating oil and propane price
data in 38 states during the winter heating season. SHOPP is a joint
effort between EIA and state energy offices in regions (especially
states in the Northeast and Midwest) where heating oil and propane are
commonly used as heating fuels. In all of the states surveyed, propane
and heating oil prices are lower than they were at this time last year,
and EIA expects prices will remain at lower levels throughout the
winter.
Weather forecasts for the current winter season predict warmer
temperatures in regions east of the Rocky Mountains compared with last
year. Based on those predictions and higher inventory levels, EIA expects propane and heating oil prices to be lower this season.
In contrast, during the winter of 2013-14 persistent cold temperatures
in much of the country increased demand for these and other heating
fuels, depleting inventories. The economic consequences of those
conditions on consumers were evident in SHOPP's national-level prices
for residential propane and No. 2 heating oil, which set record highs in February 2014.
Unlike retail natural gas and electricity, which are both distributed
through utility companies, retail heating oil and propane are sold by
independent dealers. These dealers and their customers can face
considerable supply and price uncertainty, particularly in the event of
inclement weathe
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