official nebraska government website

Average Wholesale
Heating Oil Prices in
Nebraska

Analysis

The average wholesale heating oil price on January 18, 2010, had dropped 14 cents from last week's report to $2.10 per gallon (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 previous years.  This week's average price was 38 cents (or 22 percent) higher than the price a year ago.

The other states surveyed in the Midwest Region had comparable wholesale prices ranging from $2.04 to $2.14 per gallon resulting in a regional average of $2.09.  States near in proximity to Nebraska, such as Missouri and Minnesota, had prices of $2.09 and $2.11, respectively.

For the week ending January 15, the Midwest distillate inventory level was in the normal range for this time of year at 1.7 million barrels.

Notes:  The annual report for the 2008-2009 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 — 2009/2010

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 $1.900 $2.130
Second Monday $1.857 $2.025 $1.940 $1.859 $1.958 $2.184
Third Monday $1.936 $2.055 $2.090 $1.780 $1.933
Fourth Monday $1.922 $1.975 $1.990 $1.788 $2.038
Fifth Monday $1.895 $1.833
Heating Season
Oct Nov Dec Jan Feb Mar
2007/2008
First Monday $2.774 $2.662 $2.737 $2.620 $3.108
Second Monday $2.494 $2.804 $2.585 $2.616 $2.813 $3.228
Third Monday $2.466 $2.794 $2.696 $2.610 $2.844 $3.328
Fourth Monday $2.506 $2.896 $2.704 $2.643 $3.004
Fifth Monday $2.596 $2.712
2008/2009
First Monday $3.269 $2.399 $1.982 $1.794 NA NA
Second Monday $2.784 $2.356 $1.714 $1.764 NA NA
Third Monday $2.546 $2.169 $1.762 $1.721 NA NA
Fourth Monday $2.289 $2.004 $1.718 $1.691 NA
Fifth Monday $1.568
2009/2010
First Monday $1.890 $2.085 $2.076 $2.195 NA NA
Second Monday $1.969 $2.084 $1.975 $2.240 NA NA
Third Monday $2.125 $2.070 $2.023 $2.097 NA NA
Fourth Monday $2.168 $2.081 $2.112 NA NA
Fifth Monday $2.076

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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 This report was updated on January 28, 2010.

Typically, there is one week between updates during the heating season.