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Weekly Heating Fuels Report -- 11/21/2012

November 21, 2012
By: Davis Michaelsen, Pro Farmer Inputs Monitor Editor

Heating oil prices moved slightly lower during the report period ending November homeheat119, 2012, residential propane moved slightly higher.

 Residential heating oil prices remained mostly flat during the period ending November 19, 2012. The average residential heating oil price fell a fraction of a cent to remain at $3.98 per gallon for the third week in a row, 4 cents per gallon higher than the same time last year. Wholesale heating oil prices rose by 4 cents per gallon last week to reach $3.21 per gallon, almost 8 cents per gallon more than last year at this time.

The average residential propane price increased by less than a penny last week to $2.41 per gallon, 43 cents per gallon lower than the same period last year. Wholesale propane prices decreased by a penny to just under $0.95 per gallon for the week ending November 19, 2012, almost 53 cents per gallon lower than the November 21, 2011 price.

Temperatures during the report week were 1.6 degrees cooler than the 30-year normal temperature and 1.1 degrees cooler than the same period last year. Temperatures in the Lower 48 states averaged 48.0 degrees, compared to 49.1 degrees last year and the 30-year normal of 49.6 degrees. While overall temperatures were less than two degrees cooler than normal, temperatures varied somewhat across Census divisions.

In the Northeast, the Middle Atlantic Census division was particularly cool, averaging 7.0 degrees cooler than the 30-year normal. In the West, the Mountain Census division was particularly warm, averaging 8.6 degrees warmer than the 30-year normal. Heating degree-days nationwide were 10.6 percent above normal and 8.7 percent above last year.

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