Diesel Price Drops 4 Cents
Gasoline and diesel fuel prices fall again
The national average diesel fuel price decreased four cents to $3.99 per gallon, 10 cents higher than last year at this time. The U.S. average diesel price has been below the $4-per-gallon mark three out of the last five weeks. Prices decreased in all regions of the nation, with the largest decrease coming on the West Coast, where the price declined six cents to $4.04 per gallon. The Rocky Mountain price is $3.94 per gallon, down a nickel from last week. Decreasing four cents, the Midwest price is $3.98 per gallon, and both the East Coast and Gulf Coast prices dropped three cents, to $4.07 per gallon and $3.87 per gallon, respectively.
The U.S. average retail price of regular gasoline decreased five cents to $3.35 per gallon, six cents higher than last year at this time. Prices decreased in all regions of the nation for the second consecutive week, with the largest decrease coming in the Rocky Mountain region, where the price fell eight cents to $3.33 per gallon. The West Coast price has decreased 87 cents since reaching a high for the year in October, and is now $3.54 per gallon, down seven cents from last week. The East Coast, Midwest, and Gulf Coast prices all declined four cents from last week, to $3.42 per gallon, $3.28 per gallon, and $3.12 per gallon, respectively.
Propane inventories decline
U.S. propane stocks fell 1.3 million barrels to end at 71.2 million barrels last week, 12.0 million barrels (20 percent) higher than a year ago. Midwest regional inventories dropped by 0.9 million barrels, while Gulf Coast inventories declined by 0.4 million barrels. Rocky Mountain/West Coast stocks dropped by 0.1 million barrels, and the East Coast region gained slightly. Propylene non-fuel-use inventories represented 5.6 percent of total propane inventories.
Residential heating oil prices decrease while residential propane remains flat; wholesale prices see biggest decreases since start of season
Residential heating oil prices declined during the period ending December 10, 2012. The average residential heating oil price fell 4 cents to $3.96 per gallon, nearly 10 cents per gallon higher than the same time last year. Wholesale heating oil prices decreased by 16 cents per gallon last week to $3.06 per gallon, 8 cents per gallon more than last year at this time.
The average residential propane price was unchanged from last week’s price of $2.41 per gallon, 44 cents per gallon lower than the same period last year. Wholesale propane prices decreased by 8 cents to $0.83 per gallon for the week ending December 10, 2012, 60 cents per gallon lower than the December 12, 2011 price.
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,