Thursday, January 18, 2018

Short-Term Energy Outook- Home Heating Fuel


This report from the EIA (U.S. Energy Information Administration), forecast the outlook for energy resources used for heating fuels during the winter.

eia.gov:

Regarding the U.S. region using the most heating oil:

Reliance on heating oil is highest in the Northeast region. About 21% of households in this region use oil for space heating, down from 25% five years ago as an increasing number of homes switched to using natural gas and electricity for space heating. Nationwide, 5% of households use heating oil. 

On the price of heating oil this winter:

Heating oil prices are expected to be higher than last winter because of higher crude oil prices and because of higher distillate fuel margins (the price difference between wholesale distillate fuel and crude oil).

More specific estimates of heating oil costs for households:

EIA expects households heating primarily with heating oil to spend an average of $215 (17%) more this winter than last winter, reflecting retail prices that are 25 cents/gallon (gal) (10%) higher and consumption that is 6% higher than last winter.


Stay warm this winter, & save money with 5 Star Heating Oil
Call us at (856) 343-5482, or visit our website to schedule delivery & find special offers:

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