Heating Oil --
Residential heating oil prices moved higher during the week ended January 23, 2013. The average residential heating oil price climbed 0.011 cents to $3.984 per gallon, 0.047 cents per gallon higher than the same time last year. Wholesale heating oil prices also increased -- 0.035 cents per gallon higher to $3.178 per gallon, 0.098 cents per gallon above last year at this time.
Distillate stocks increased by 0.5 million barrels to 132.9 million barrels -- still 12.6 million barrels shy of year-earlier levels, but steadily creeping through the low end of the five-year range.
The average residential propane price increased 0.019 to 2.455 per gallon -- 0.409 below year-ago. Wholesale propane 0.031 higher to 0.925 -- 0.308 below year-ago.
Propane stocks declined 3.073 million barrels on increased demand for home heat to 60.883 but remain very comfortably well above the five-year average. Stocks remain 10.131 mmbbl over the same time last year.
Temperatures during the storage report week were 4.9 degrees warmer than the 30-year normal temperature and 1.6 degrees warmer than the same period last year. Temperatures in the Lower 48 states averaged 37.9 degrees, compared to 36.3 degrees last year and the 30-year normal of 33.0 degrees. While overall temperatures were a few degrees warmer than normal, temperatures varied significantly across Census divisions.
The South Atlantic Census division in the South and the New England Census division in the Northeast were particularly warm, averaging 14.7 and 12.0 degrees warmer, respectively, than the 30-year normal. In the West, the Mountain and Pacific Census divisions were relatively cool, averaging 10.6 and 7.1 degrees cooler, respectively, than the 30-year normal. Heating degree-days nationwide were 14.6 percent below normal and 4.5 percent below last year.