The Harrisburg Patriot News and other media this week reported the drop in crude oil prices will result in heating oil and propane prices going down 15 percent and 27 percent respectively, according to the U.S. Energy Information Administration, as compared to a 5 percent drop for natural gas and a 2 percent drop for electricity.

In the Patriot article, the Pennsylvania Petroleum Association said the drop in crude oil prices is good news for heating oil customers and local oil distributors, especially compared to natural gas.

The articles also noted, “If it's 10 percent colder than forecast, the oil prices would only be 5 percent lower; propane, 15 percent lower; natural gas prices could rise 6 percent, and electricity rates could rise 2 percent.”

NewsClips:

Heating Oil Prices, How Low Will They Go?

Why Oil Prices Likely Won’t Be Low For Long

Oil Jumps 3% After Hitting 5-Year Low, Focus On U.S. Shale

U.S. Oil Reserves At Highest Since 1975

Extreme Oil Bears Bet On $40 Crude

Crashing Oil Prices Hurting PA Drillers

Editorial: Our Energy Boom, Market Currents

Editorial: Our Energy Boom, Export Bonuses

Marcellus Shale Fuels Lower Natural Gas, Propane Prices

Natural Gas Reserves Reach Record High

Natural Gas Futures Fall After Below-Forecast Stockpile Decline

Marcellus, Utica: What’s Ahead In 2015

How To Save Money On Your Electric Bill

12/8/2014