News Release No. 468

DEPARTMENT OF NATURAL RESOURCES SURVEY FINDS DECLINES IN CRUDE, TRANSPORTATION AND HEATING FUEL PRICES

Volume 33-468

Contact: Larry Archer

(For immediate release)

573-751-3807

JEFFERSON CITY, MO, NOV. 10, 2005 --- According to the Missouri Department of Natural Resources Energy Center fuels survey, on Nov. 7, the average retail price for regular gasoline was $2.10 in Missouri, down 27 percent from last month, but 13 percent higher than this time last year.

Missouri retail diesel fuel prices decreased 36 cents to an average retail price of $2.65 per gallon. Declining retail prices are primarily due to stabilizing domestic diesel supplies, improved production levels from recovering Gulf Coast refineries and an increase in imported fuels. Distillate stocks, which include diesel fuel and heating oil, fell by just 0.1 million barrels to 120.8 million barrels for the week ending Nov. 4.

On Nov. 9, natural gas futures closed at $11.67 per MMBtu, down $2.51 cents from last month and $2.92 or 33 percent higher than a year ago. Approximately 57 percent of Missouri households use natural gas for heat. Recovering gas production in the Gulf of Mexico and warmer-than-normal temperatures are credited for the price decrease. According to the U.S. Department of Energy as of Nov. 8, the current outlook for the upcoming winter (October 2005 through March 2006) yields expectations for energy expenditures for natural gas to be approximately $306 or 41 percent more than the winter of 2004-2005 for an average household.

The state's average retail propane price as of Nov. 7 was $1.67 per gallon, down 2.0 cents from a month ago and 11 cents or 7 percent higher than a year ago. Approximately 13 percent of Missouri households use propane for heat. The Department of Energy anticipates propane-heated households to spend approximately $230 or 21 percent more this winter than last. The complete energy survey for Nov. 10 is available at www.dnr.mo.gov/energy/transportation/EB111005.pdf.
The department's bimonthly energy bulletins are available online at www.dnr.mo.gov/energy/transportation/fb.htm.

For news releases on the Web, visit www.dnr.mo.gov/newsrel. For a complete listing of the department's upcoming meetings, hearings and events, visit the department's online calendar at www.dnr.mo.gov/calendar/search.do.

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