official nebraska government website

Average Wholesale
Heating Oil Prices
in Nebraska

Analysis

The average wholesale heating oil price on March 19, 2012, had risen 3 cents from the last report to $3.40 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.

The other states surveyed in the Midwest Region had comparable wholesale prices ranging from $3.33 to $3.54 per gallon resulting in a regional average of $3.46. States near in proximity to Nebraska, such as Missouri and Minnesota, had prices of $3.41 and $3.39, respectively.

For the week ending March 16, the Midwest distillate inventory level was in the upper half of the normal range for this time of year with the heating oil inventory level at 0.6 million (600,000) barrels.

Notes: The annual report for the 2010–2011 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 thirteen (13) 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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line chart representing Average Wholesale Heating Oil Prices in Nebraska from 2004 through 2012.

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Nebraska's Average Wholesale Heating Oil Prices
2004/2005 – 2011/2012

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
Heating Season
Oct Nov Dec Jan Feb Mar
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
Heating Season
Oct Nov Dec Jan Feb Mar
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

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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
Heating Season
Oct Nov Dec Jan Feb Mar
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
Heating Season
Oct Nov Dec Jan Feb Mar
2009/2010
First Monday $1.890 $2.085 $2.076 $2.195 $1.981 $2.148
Second Monday $1.969 $2.084 $1.975 $2.240 $1.936 $2.232
Third Monday $2.125 $2.070 $2.023 $2.097 $1.970 $2.230
Fourth Monday $2.168 $2.081 $2.112 $1.991 $2.152
Fifth Monday $2.076

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Heating Season
Oct Nov Dec Jan Feb Mar
2010/2011
First Monday $2.428 $2.372 $2.565 $2.626 $2.808 $3.267
Second Monday $2.426 $2.497 $2.564 $2.632 $2.862 $3.225
Third Monday $2.379 $2.542 $2.566 $2.750 $2.864
Fourth Monday $2.385 $2.457 $2.627 $2.751 $3.099
Fifth Monday $2.461 $2.807
Heating Season
Oct Nov Dec Jan Feb Mar
2011/2012
First Monday $2.950 $3.331 $3.081 $2.976 $3.182 $3.287
Second Monday $3.061 $3.459 $2.965 $3.115 $3.212 $3.376
Third Monday $3.196 $3.203 $2.887 $3.072 $3.229 $3.404
Fourth Monday $3.220 $3.086 $2.969 $3.038 $3.369
Fifth Monday $3.290 $3.101

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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 March 22, 2012.
Typically, there is one week between updates during the heating season.