Slide 17 of 18
Notes:
- Using the Northeast as an appropriate regional focus for heating oil, the typical oil-heated household consumes about 680 gallons of oil during the winter, assuming that weather is “normal.”
- From the table it is clear that the previous three winters generated below normal consumption rates. Last winter, consumers saw large increases over the very low oil prices seen during the winter of 1998-1999 but, outside of the cold period in late January/early February they saw relatively low consumption rates due to generally warm weather.
- Even without particularly sharp cold weather events this winter, we now think consumers are likely to see higher average heating oil prices than were seen last winter.
- If weather is normal, our projections imply New England heating oil customers would be expected to pay about $140 more this winter for heat than last year.
