Is the price of heating oil in the US going down?

geepondy

Flashlight Enthusiast
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Apr 15, 2001
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Location
Massachusetts
I'm sure everybody has noticed the rocket drop in gas prices but has heating oil prices responded as well? I have not followed the prices as I don't use heating oil but my dad who is on a fixed income needs to buy some and I'm wondering if I should tell him to hold off as long as possible in likelihood of further price drops? I have a feeling the home heating oil prices probably are not as volatile as the gas prices and may not react as quickly to crude oil price drops.
 

BB

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Jun 17, 2003
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SF Bay Area
There seem to be quite a few places on the web that track heating oil prices... Like this one (weekly history back to 2002).

Code:
oDate       
oAverage wholesale price per gallon, 
  #2 heating oil, Port of Philadelphia, rounded to the nearest half cent
oEnergy Cooperative price per gallon
=============================
10/31/08     $2.165     $2.42-$2.615
10/30/08     $2.17     $2.435-$2.62
10/29/08     $2.125     $2.35-$2.575
10/28/08     $2.20     $2.35-$2.655
10/27/08     $2.205     $2.38-$2.655
10/24/08     $2.255     $2.46-$2.705
10/23/08     $2.265     $2.465-$2.715
10/22/08     $2.325     $2.605-$2.775
10/21/08     $2.395     $2.635-$2.845
10/20/08     $2.355     $2.55-$2.805
10/17/08     $2.325     $2.51-$2.775
10/16/08     $2.475     $2.615-$2.925
10/15/08     $2.515     $2.68-$2.965
10/14/08     $2.565     $2.76-$3.015
10/10/08     $2.71     $2.835-$3.16
10/9/08     $2.74     $2.91-$3.19
10/8/08     $2.745     $2.915-$3.195
10/7/08     $2.73     $2.925-$3.18
10/6/08     $2.87     $3.07-$3.32
10/3/08     $2.91     $3.10-$3.36
10/2/08     $2.965     $3.235-$3.415
10/1/08     $3.055     $3.275-$3.505
9/30/08     $3.00     $3.18-$3.45
I am on the west coast (natural gas)... From a sample size of one--looks like you may be hitting the crossing point between dropping oil prices and increasing winter demand.

Sorry, can't help you more.

-Bill
 

StarHalo

Flashaholic
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Dec 4, 2007
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California Republic
The price of oil determines the price of all other energy commodities - you should see a notable drop in your heating oil price compared to last year.

As to the short-term future of prices, it will come down to the market's response to the new president.
 

WadeF

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Apr 24, 2007
Messages
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Location
Perkasie, PA
I got filled up around the beginning of October, before the price of oil was really dropping, and was charge $3.99 a gallon. Luckily my tank only needed to be topped off, some 67 gallons, but it was pricey. I'm hoping the next time they fill up it's under $3 a gallon.
 

vtunderground

Enlightened
Joined
May 26, 2004
Messages
945
Location
Roanoke, VA
I got filled up around the beginning of October, before the price of oil was really dropping, and was charge $3.99 a gallon.

Ouch. Last week I bought 450 gallons at $2.94/gal. The price has dropped since then, but I expect it'll shoot back up again when things outside get real cold.
 
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