Average Wholesale
Heating Oil Prices in Nebraska

Analysis | Heating Season | Off Season | Midwest Region
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Midseason Report

Analysis

The average wholesale heating oil price fell eight cents from last week to $1.78 per gallon on January 15, 2007 (see the table at the end of this report).  The graph below shows the spread in Nebraska prices from month to month and from this year compared to last year.  This week's average price was nine cents (or six percent) higher than the price at this time last year.

Other states in the Midwest Region had comparable prices ranging from $1.59 to $2.05 per gallon resulting in a regional average of $1.68.  States near in proximity to Nebraska, such as Iowa, North Dakota, and Minnesota, had prices of $1.81, $1.76, and $1.74, respectively.  The average prices in Kansas, South Dakota, and Missouri were not available this week.

For the week ending January 12, the Midwest distillate inventory level was below the normal range for this time of year at 3.8 million barrels.

Notes:  The annual report for the 2005-2006 winter season is available.  An archive houses annual reports from previous years.

Heating Season

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.

Off Season

Prices are not collected during the off season (April through September).

Midwest Region

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.


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Nebraska's Average Wholesale Heating Oil Prices
2004/2005 - 2006/2007

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Nebraska's Average Wholesale Heating Oil Prices
2004/2005 - 2006/2007
  Heating Season
Oct Nov Dec Jan Feb Mar
2004/2005
First Monday $1.479 $1.480 $1.225 $1.215 $1.302 $1.556
Second Monday $1.499 $1.464 $1.183 $1.277 $1.358 $1.618
Third Monday $1.606 $1.402 $1.376 $1.344 $1.420  
Fourth Monday $1.617 $1.543 $1.272 $1.371 $1.537  
Fifth Monday   $1.478   $1.341    
2005/2006
First Monday $2.495 $1.944 $1.782 $1.730 $1.835 $1.954
Second Monday $2.379 $1.851 $1.796 $1.752 $1.809 $1.844
Third Monday $2.590 $1.752 $1.779 $1.686 $1.841  
Fourth Monday $2.532 $1.732 $1.713 $1.810 $1.857  
Fifth Monday $2.060     $1.844    
2006/2007
First Monday $1.849 $1.906 $2.032 $1.923 NA NA
Second Monday $1.857 $2.025 $1.940 $1.859 NA NA
Third Monday $1.936 $2.055 $2.090 $1.780 NA  
Fourth Monday $1.922 $1.975 $1.990 NA NA  
Fifth Monday $1.895     NA    

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Sources:  Weekly Petroleum Status Report.  Energy Information Administration, Washington, DC.  Nebraska Energy Office, Lincoln, NE.

Note:  NA = Not Available

This report was updated on January 22, 2007.  Typically, there is one week between updates during the heating season.

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