The same downward trend on gas prices is also reflective in current propane and home heating oil prices. The main reason is ample supply is keeping prices down.
Elise Nelson from the state Public Service Commission of Wisconsin which oversees the state Energy Office says mild weather and less use of propane for crop drying means the supply of propane is good...
"all these factors combined contribute to a much high Midwest propane inventory. Total U.S. propane inventories are at the highest levels on record. Therefore the outlook is good Wisconsin's average propane price is $1.16 per gallon...."
That's about 71 cents per gallon lower than last year.
People who heat their homes with oil are also seeing a price break. The average home heating oil price is $2.33 per gallon, down about 15 cents from one year ago. Megan Levy of the State Energy Office says the price of crude oil weighs on the fuel oil price...
"....there really is a glut of oil and that does track with the WTI barrel price. So I think what we're seeing across the world are high levels of oil(supply)..."
Late last week the WTI Crude Oil Price was about $45.00 a barrel about half of what is was a year ago.
