Henry Hub price reaches lowest level since July 2012. The Henry Hub spot price began the report week last Wednesday at $2.47/MMBtu, then dropped 21¢ by Friday to $2.26/MMBtu, the lowest Henry Hub spot price since July 2012. The price then rose to close at $2.46/MMBtu yesterday. Prices in most markets, except the Northeast, followed a similar pattern, ending down for the week, after reaching weekly lows on Friday. Chicago Citygate spot prices started at $2.56/MMBtu last Wednesday and closed yesterday at $2.46/MMBtu.
The U.S. average retail price of regular gasoline decreased less than a penny from the previous week to remain $2.32 per gallon on October 5, 2015, 98 cents per gallon lower than the same time last year. The Midwest and Gulf Coast prices increased three cents and two cents, respectively, to $2.35 per gallon and $2.04 per gallon, respectively. The Rocky Mountain price decreased six cents to $2.48 per gallon, while the West Coast price fell five cents to $2.79 per gallon. The East Coast price was down one cent to $2.17 per gallon.
A forecast combination of warmer weather and lower crude oil prices is contributing to the lowest expected average residential heating oil expenditures in nine years for the winter heating season of 2015-16, which runs from October 1 through March 31. The average household using heating oil is forecast to spend about $1,390 for heating bills during winter 2015-16, down $460 from last winter’s average expenditures.
The U.S. retail gas prices saw a slight average increase of one cent this week to hit $2.25. The largest increase was in the Midwest, where retail gas prices jumped three cents to hit $2.33. The Gulf Coast saw a one-cent increase and the lowest retail gasoline prices in the country at $2.04.
West Coast prices fell the most with a seven cent drop to $2.56. The Rocky Mountain region was close behind with a six-cent decrease to $2.48. The highest retail gas prices in the country are in the West Coast region.
Pennsylvania dairy farmers saw milk income over feeds costs (IOFC) improve again in September, with a milk price increase surpassing rising feed costs, according to the latest Dairy Outlook report from Jim Dunn, Penn State University dairy economist.
Dairy margins were mixed over the last two weeks of September, weakening slightly in the fourth quarter of 2015, while improving in deferred months, according to the latest CIH Margin Watch report from Commodity & Ingredient Hedging, LLC.
Average all-milk prices held fairly steady in August, but remain well below a year ago. August continues a seven-month trend in which the average U.S. milk price has deviated less than 30¢/cwt., staying in a range of $16.60-$16.90/cwt.