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The national residential heating oil price fell a slight 0.4 cent a gallon over the last week to $1.382 a gallon, but is still 10.5 cents higher than a year ago, according to the Energy Department. The department's Energy Information Administration, which conducts the weekly survey of heating oil costs, said it expects heating oil to average $1.33 a gallon this winter. Even with this week's price decline, heating fuel costs so far this season have been way above the EIA's estimate, and the coldest winter months have yet to arrive.


(AXcess News) A cold winter weather streak in the U.S. is fueling higher heating oil prices in New York Wednesday as NYMEX traders eased heating oil prices higher .0105 cents at $1.847 a gallon by late afternoon after reaching $1.90 a gallon in early trading. Crude oil futures for December delivery were off 57 cents, but still over $60 a barrel at $60.80. Natural gas traded down 67 cent per thousand feet at $14.70 and gasoline was down .0049 cents at $1.641.

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Biodiesel can be made from any fat or vegetable oil, such as soybean oil, and can be used either as a heating or transportation fuel. Biodiesel can be added to heating oil with few or no modifications to a furnace or boiler. It can be blended with regular No. 2 heating oil at any level, but a blend of 20 percent biodiesel and 80 percent regular heating oil is common.

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