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Energy Prices Rise along with Market Volatility
Projecting energy supply and demand has become challenging recently, according to the US Energy Information Administration (EIA). Russia’s invasion in the Ukraine, the retirement of many nuclear power plants, and the growth of renewable energy created supply uncertainty. In response, energy companies are dipping into their reserves. US oil reserves are at their lowest level since 2014. Prices are rising as a result. Residential heating oil price ended the 2021–22 winter heating season at $5.13 per gallon (gal), more than double ($2.26/gal) than year. Winter residential propane prices were $2.98/gal, $0.69 higher than last winter. Managing the load will be a problem as long as these issues remain.
Energy Prices Rise along with Market Volatility
Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government
Source: www.eia.gov
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