Slide 7 of 24
Notes:
This slide shows the strong influence crude oil prices have on retail distillate prices.
Distillate tracks the crude price increases seen in 1996 and the subsequent fall in 1997 and 1998. Distillate prices have also followed crude oil prices up from the beginning of 1999 to late 2000 and the subsequent decline in the first half of 2001.
Residential heating oil prices on the East Coast (PADD 1) are just slightly higher this June than last year.
Diesel fuel prices behaved similarly to heating oil last year, although the price increases occurred more gradually. The average East Coast diesel price in July was $1.37 per gallon, about 7 cents lower than a year ago.
