Residential heating oil prices moved higher during the report week. The average residential heating oil price climbed 0.028 cents to $4.013 per gallon, 0.061 cents per gallon higher than the same time last year. Wholesale heating oil prices also increased -- 0.018 cents per gallon higher to $3.196 per gallon, 0.034 cents per gallon above last year at this time.
Distillate stocks fell by 2.3 million barrels to 130.6 million barrels -- still 14.8 million barrels below year-ago levels, but steadily creeping up through the low end of the five-year range.
The average residential propane price increased by 0.020 cents last week to slightly more than $2.474 per gallon, 0.391 cents per gallon lower than the same period last year. Wholesale propane prices increased 0.054 cents to $0.979 per gallon -- 0.254 cents per gallon lower than year-earlier.
Propane stocks fell by 3.450 million barrels (mmbbl) to register a week-week decline to 57.433 million barrels -- that's still 8.444 mmbbl above year-ago and remains well above the five-year average.
According to EIA, "Temperatures during the storage report week were 0.1 degree cooler than the 30-year normal temperature and 2.7 degrees cooler than the same period last year. Temperatures in the Lower 48 states averaged 33.0 degrees, compared to 35.7 degrees last year and the 30-year normal of 33.1 degrees. While overall temperatures were close to normal, temperatures varied somewhat across Census divisions.
The East North Central Census division in the Northeast and the Middle Atlantic Census division in the Northeast were relatively cool, averaging 3.6 and 2.9 degrees cooler, respectively, than the 30-year normal. The West South Central division in the South and the Pacific Census division in the West were relatively warm, averaging 4.7 and 3.9 degrees warmer, respectively, than the 30-year normal. Heating degree-days nationwide were normal and 8.7 percent above last year."