According to EIA’s This Week in Petroleum, the retail price of propane and fuel oil continue to be high. The retail price of propane is up nearly 15% compared to the same time last year. Heating oil’s retail price is up nearly 29% compared to last year. The average price of both of these fuels is equivalent to 11.7¢/kWh electricity. Making off-peak electricity an excellent value in most regions.
Below is what EIA wrote:
Residential heating oil and propane
prices increase
Residential heating oil prices increased during the period ending October 31,
2011. The average residential heating oil price rose $0.05 per gallon last week
to reach $3.85 per gallon, an increase of $0.86 per gallon from the same time
last year. The wholesale heating oil price increased by $0.05 per gallon last
week to $3.16 per gallon; $0.84 per gallon more than last year at this time.
The average residential propane price increased two and a half cents to $2.82 per gallon. This is a rise of $0.36 per gallon compared to the $2.45 per gallon average from the same period last year. The wholesale propane price increased by more than $0.01 per gallon, rising from $1.49 per gallon to a price just shy of $1.51 per gallon, as the only regional price gain occurred in the Midwest. This was an increase of $0.22 per gallon when compared to the November 1, 2010 price of $1.29 per gallon.
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