A minor rally on Friday didn’t boost oil prices by much. And the latest numbers from the Energy Information Administration have residential heating oil No. 2 hovering a paltry 2 cents above the lowest price of the year.
The glut of supply is keeping oil extremely low despite fluctuations caused on the markets.
In the past week, prices in New England dropped 18 cents to 2.994 (2.05 wholesale). Prices in the Central Atlantic states including Pennsylvania, Delaware and New York dropped 17 cents in the past week to 3.066 (1.902 wholesale). The smallest dip came in the relatively stable Lower Atlantic region, dropping just 1 cent to 2.87 (1.815 wholesale).
Midwestern prices dropped 6 cents to 2.53 (1.857 wholesale).