Section 9. Energy prices

Monthly Energy Review, Feb, 2005

Crude Oil. The average price of domestic crude oil at the wellhead was $42.99 per barrel in November 2004, 58 percent above the level of November 2003. The refiner acquisition cost of imported crude oil in November 2004 was $39.83 per barrel, 45 percent higher than the November 2003 level. The average cost of domestic crude oil in November 2004 was $45.74, 55 percent more than the November 2003 average.

Motor Gasoline. The national city average retail price of unleaded regular gasoline at all types of stations was $1.88 per gallon in December 2004, 26 percent higher than the price in December 2003. The price of unleaded premium gasoline averaged $2.08 in December 2004, 23 percent higher than the price in December 2003.

Residual Fuel Oil. The average price, excluding taxes, of residual fuel oil sold to end users in November 2004 was 82 cents per gallon, 1 percent lower than the previous month's price but 23 percent higher than the November 2003 average. The average resale price, excluding taxes, of residual fuel oil in November 2004 was 71 cents, 8 percent lower than the October 2004 price but 13 percent higher than the price 1 year earlier.

Jet Fuel. The average price, excluding taxes, of kerosene-type jet fuel sold to end users in November 2004 was $1.47 per gallon, 5 percent lower than the previous month's average price but 67 percent more than the November 2003 average price.

No. 2 Distillate Fuel Oil. The November 2004 national average price, excluding taxes, of heating oil sold to residential customers was $1.82 per gallon, 1 percent higher than the October 2004 price and 42 percent higher than the November 2003 price. The average price of No. 2 fuel oil sold to all end users was $1.43 per gallon in November 2004, 7 percent lower than the October 2004 price but 60 percent higher than the price 1 year earlier.

Electricity. The average retail price of electricity sold to all ultimate consumers in the United States in November 2004 (latest month for which data are available) was 7.37 cents per kilowatthour, 2 percent higher than the average price in November 2003. The price of electricity sold to residential consumers in November 2004 averaged 8.96 cents per kilowatthour, 3 percent higher than the November 2003 price. The price of electricity sold to commercial consumers averaged 8.03 cents per kilowatthour in November 2004, 3 percent higher than the November 2003 price. The price of electricity sold to transportation users in November 2004 averaged 6.51 cents per kilowatthour, 5 percent lower than the November 2003 price. The price of electricity sold to industrial users in November 2004 averaged 4.96 cents per kilowatthour, slightly higher than the price 1 year earlier.

Natural Gas. The average wellhead price of natural gas for November 2004 (latest month for which data are available) was estimated as $6.07 per thousand cubic feet, 42 percent higher than the November 2003 price.

The average price of natural gas delivered to the electric power sector was $6.04 per thousand cubic feet in October 2004, 22 percent higher than the October 2003 price. The average price of natural gas used by residential consumers in November 2004 was $11.44 per thousand cubic feet, 18 percent higher than the November 2003 price. The average price of natural gas used by commercial consumers in November 2004 was $10.06 per thousand cubic feet, 22 percent higher than the November 2003 price. The average price of natural gas used by industrial consumers in November 2004 was $7.47 per thousand cubic feet, 45 percent above the November 2003 price.

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