Diesel Prices Rise in All Regions
The national average diesel fuel price increased five cents to $4.16 per gallon, 20 cents higher than last year at this time.
For the first time since October 2012, prices in all regions of the nation are above the $4 per gallon mark. The Gulf Coast and Rocky Mountain prices both increased seven cents, to $4.07 per gallon and $4.03 per gallon, respectively. The Midwest and East Coast prices are each up a nickel to $4.13 per gallon and $4.20 per gallon, respectively. Rounding out the regions, the West Coast price is $4.30 per gallon, up four cents from last week.
Propane inventories decline
U.S. propane stocks fell 1.3 million barrels to end at 51.1 million barrels last week, yet are 6.2 million barrels (13.8 percent) higher than the same period a year ago. Gulf Coast inventories dropped by 0.6 million barrels, and Midwest regional inventories declined by 0.4 million barrels. East Coast stocks dropped by 0.3 million barrels, while stocks in the Rocky Mountain/West Coast region gained slightly. Propylene non-fuel-use inventories represented 5.7 percent of total propane inventories.
Residential heating fuel prices rise
Residential heating oil prices increased during the week ending February 18, 2013. The average residential heating oil price increased by 2 cents to $4.15 per gallon, 11 cents per gallon higher than the February 20, 2012 price. Wholesale heating oil prices decreased by 3 cents to $3.37 per gallon, 11 cents per gallon higher than last year at this time.
The average residential propane price increased by 1 cent to $2.49 per gallon, 37 cents per gallon lower than the same period last year. Wholesale propane prices also increased by 1 cent to $0.98 per gallon, 18 cents per gallon lower than last year at this time.
Gasoline prices up again
The U.S. average retail price of regular gasoline increased 14 cents to $3.75 per gallon, up 16 cents from last year at this time. The national average price has seen double-digit increases two out of the last three weeks and is up 45 cents since the beginning of the year.
The largest increase came in the Midwest, where the price increased 18 cents to $3.76 per gallon. The Gulf Coast price is $3.53 per gallon, an increase of 15 cents from last week. The Rocky Mountain price is up 14 cents to $3.41 per gallon. On the West Coast, the price increased 11 cents, but remains just shy of the $4 per gallon mark at $3.97 per gallon. Rounding out the regions, the East Coast price saw the smallest increase, 10 cents, rising to $3.75 per gallon.
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,