The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding
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DA T E L INE (EIA) expects the price of West Texas Intermediate (WTI) crude oil to average about $100 per barrel in 2012, $5 per barrel higher than the average price last year. The forecast is included in the EIA's latest Short- Term Energy Outlook, released Jan. 10. For 2013, EIA expects WTI prices to continue to rise, reaching $106 per barrel in the fourth quarter of next year. EIA's fore- cast assumes that U.S. real gross domestic product (GDP) grows by 1.8 percent in 2012 and 2.5 percent in 2013, while world real GDP (weighted by oil consumption) grows by 2.9 percent and 3.8 percent in 2012 and 2013, respectively. EIA expects regular-grade motor gaso- line retail prices to average $3.48 per gallon in 2012, 4 cents per gallon lower than last year, and $3.55 per gallon in 2013. During the April through September peak driving season each year, prices are forecast to aver- age about 5 cents per gallon higher than the annual average. There is regional variation in the forecast, with average expected prices on the West Coast about 25 cents per gal- lon above the national average during the April through September period. The forecast of average household heating expenditures for all heating fuels has been lowered from the first forecast for the current winter published in the October 2011 Outlook, primarily as a result of the warm first half of this heat- ing season. Average household heating oil expenditures are now expected to increase by 4 percent this winter heating season (October 1 to March 31) compared with last winter. In contrast, natural gas and propane expenditures are projected to decline by 7 percent and 1 percent, respec- tively, and electricity expenditures are 2 percent lower than last winter's levels. AHRI RELEASES NOVEMBER 2011 U.S. HEATING EQUIPMENT SHIPMENT DATA The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) is the trade association representing manufacturers of air conditioning, heating, and commercial refrigeration equipment. AHRI provides regular reports on the sales of a variety of equipment. Offered below is the data for November 2011. Residential Storage Water Heaters— U.S. shipments of residential gas storage water heaters for November 2011 increased 13 percent, to 332,886 units, up from 295,029 units shipped in November 2010. Residential electric storage water heater shipments increased 10 percent in November 2011, to 309,985 units, up from 281,702 units shipped in November 2010. For the year-to-date, U.S. shipments of residential gas storage water heaters increased 0.6 percent, to 3,589,059 units, compared to 3,567,601 units shipped during the same period in 2010. Residential electric storage water heater shipments decreased 0.5 percent year-to-date, to 3,390,190 units, compared to 3,408,299 units shipped during the same period in 2010. Commercial Storage Water Heaters— Commercial gas storage water heater shipments increased 16 percent in November 2011, to 6,955 units, up from 5,992 units shipped in November 2010. Commercial electric storage water heater shipments increased 6 percent in November 2011, to 4,722 units, up from 4,468 units shipped in November 2010. Year-to-date U.S. shipments of com- mercial gas storage water heaters increased 3 percent, to 73,837 units, compared with 71,816 units shipped during the same period in 2010. Year-to-date commercial electric storage water heater shipments increased 3 percent to 55,075 units, up from 53,690 units shipped during the same period in 2010. Warm Air Furnaces—U.S. shipments of gas warm air furnaces for November 2011 decreased 14 percent, to 221,159 units, down from 257,414 units shipped in November 2010. Oil warm air furnace shipments decreased 31 percent, to 5,249 units in November 2011, down from 7,590 units shipped in November 2010. CALENDAR OF EVENTS MARCH The Work Truck Show 2012 March 6-8, 2012 Indiana Convention Center Indianapolis, IN www.ntea.com Liberty U.S.A./PPMCSA C-Store Trade Show March 7, 2012 Monroeville Convention Center Monroeville, PA Contact: Karen Balliet (412) 461-2700 Karen.balliet@libertyusa.com www.libertyusa.com MAY AREE 2012 May 1 – 3, 2012 Atlantic City Convention Center Atlantic City, New Jersey www.areetradeshow.com National Association of Oil and Energy Service Professionals (formerly NAOHSM) Annual Convention and Trade Show May 20-24, 2012 R.I. Convention Center Providence, R.I. www.naohsm.org Year-to-date U.S. shipments of gas warm air furnaces decreased 9 percent, to 1,993,386 units, compared with 2,183,205 units shipped during the same period in 2010. Year-to-date U.S. shipments of oil warm air furnaces decreased 15 percent to 43,466 units, compared with 50,981 units shipped during the same period in 2010. * NOTE: Industry figures are estimates derived from the best available figures supplied by a sample of AHRI member companies and are subject to revision. FUEL OIL NEWS (ISSN 0016-2396), Canada Publication Mail Agreement #1588621, is published monthly by Bev-Al Communications, Inc. 1030 W. Higgins Road, Suite 230, Park Ridge, Il 60068. Circulated free of charge to qualified individuals in the oil heating industry in the United States. Additional and/or personal copies are available on a paid subscription basis only. 1-year subscription rates: $28.00 USA. $40.00 Canada and Mexico via service postage. $90.00 other foreign countries via air-mail postage. Single copies: $8.00 U.S. via first-class postage. $12.00 other Canada/Mexico/Foreign via airmail postage. Payable in US currency. Periodicals postage paid at Park Ridge, IL and additional mailing offices. Copyright 2012 by Bev-Al Communications, Inc. Reproduction of any portion or portions of this publication is specifically prohibited without written consent. Postmaster: Send address changes to FUEL OIL NEWS, PO Box 4290, Port Jervis, NY 12771. 4 FEBRUARY 2012 | FUEL OIL NEWS | www.fueloilnews.com