Residential heating oil prices remained unchanged during the period ending November 12, 2012. The average residential heating oil price held firm last week at $3.98 per gallon, about 4 cents per gallon higher than the same time last year. Wholesale heating oil prices increased by more than 5 cents per gallon last week to reach $3.17 per gallon, almost 13 cents per gallon less than last year at this time.
The average price of residential propane remained the same last week at $2.40 per gallon, 42 cents per gallon lower than the same period last year. Wholesale propane prices decreased by over 4 cents to $0.96 per gallon for the week ending November 12, 2012, 54 cents per gallon lower than the November 14, 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.