Midseason Average--
Last year's midseason average price was $1.83. Nebraska’s 2008/2009 midseason average was $1.67. The midseason average was $2.20 for the Midwest Region and $2.46 for the nation. From week to week, other states in the Midwest Region have had comparable or higher prices than Nebraska. States adjacent to Nebraska, such as Iowa, South Dakota, and Missouri, had midseason averages of $1.90, $1.77, and $2.11, respectively.
Retail Versus Wholesale--
During the first half of last year’s heating season, Nebraska’s retail price ranged from $1.66 to $1.91, while the wholesale price ranged from $1.39 to $1.63. During the first half of this heating season, Nebraska’s average retail price ranged from $1.55 to $2.03, while the average wholesale price ranged from 69 cents to $1.41.
Last season, Nebraska’s
rack-to-retail margin fluctuated between 23 to 37 cents per gallon during the months of October, November, and December. The margin fluctuated between 61 to 85 cents per gallon during the same months this season.
Weather
Weather is the key wild card each winter. The National Oceanic Atmospheric Administration maintained a forecast that included warmer-than-normal winter weather in 2008/2009.
Nebraska had 411 heating degree days during October 2008. The state normally has 412 heating degree days during the month of October which indicates that the weather in October 2008 was normal. Estimates for November and December heating degree days were 773 and 1362, respectively. The state normally has 851 and 1220 heating degree days in November and December, respectively. This indicates that the weather in November was nine percent warmer than normal and the weather in December was 12 percent colder than normal.
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