The average wholesale heating oil price increased 6 cents on March 14, 2005, to $1.62 per gallon (see the table at the end of this report). For the week ending March 11, the Midwest distillate inventory level had fallen below the normal range. This is a new survey so there are no prices from previous years. The graph below the text will show the spread in prices from month to month.
Other states in the Midwest region had comparable prices ranging from $1.57 to $1.65 per gallon resulting in a regional average of $1.59. States adjacent to Nebraska, such as Iowa, Kansas, Missouri, and South Dakota had prices of $1.61, $1.59, $1.57, and $1.61, respectively.
This is the last week of the traditional heating season. Wholesale prices will not be reported during the off season or build season. The build season is the period from April to September when heating fuel demand is usually less which allows stocks to build.
Notes: The annual report for the 2004-2005 winter season will be available in June. The archive houses annual reports from previous years.
The Oil Price Information Service collects wholesale heating oil prices each week for Nebraska and twelve (12) other states in the Midwest Region during the heating season (October to March). The Energy Information Administration, the independent statistical and analytical agency within the U.S. Department of Energy, uses the prices collected by the Oil Price Information Service to calculate a state average price, a regional average price, and a national average price which can be seen in the report Wholesale Heating Oil Prices by Region and State.
Prices are not collected during the off season (April through September).
For statistical purposes, the Energy Information Administration defines the Midwest region to include the states of Iowa, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, and Wisconsin.