Why U.S. Residential Heating Oil Prices Slumped By 28% This Season

U.S. residential heating oil prices at the start of the winter heating season are 28 percent lower than in the previous heating season due to lower crude oil prices and high inventories of distillates in the United States, the Energy Information Administration (EIA) said on Tuesday. The 28-percent drop in heating oil prices at the start of the winter season is the biggest price decrease between the start of two seasons since October 2015, according to EIA’s Heating Oil and Propane Update (HOPU).   Distillate heating oil is the primary…