March 10, 2010 – For the third week in
a row, the U.S. average price for diesel fuel increased. At $2.90 per
gallon, the price went up by four cents to settle $0.86 above the price a
year ago.
On the East Coast, the
average moved up three cents to $2.93 per gallon.
In the Midwest and on the
Gulf Coast and the West Coast, the averages each rose about five cents
to $2.87 per gallon, $2.87 per gallon, and $3.00 per gallon,
respectively.
The California price moved up
over three cents to $3.06 per gallon. In the Rocky Mountains, the
average increased about four cents to $2.89 per gallon.
The U.S. average price for regular gasoline increased
for the third consecutive week, moving up a nickel to $2.75 per gallon. The
price was $0.81 above the average last year at this time.
Prices rose in all regions of
the country with the East Coast climbing four cents to $2.74 per gallon.
Averages on the Gulf Coast,
in the Rocky Mountains, and on the West Coast each increased about five
cents to $2.65 per gallon, $2.69 per gallon, and $2.98 per gallon,
respectively.
The California price
increased a nickel to $3.05 per gallon. The average in the Midwest
increased the most, jumping nearly six cents to $2.70 per gallon.
After a modest drop the previous week, total U.S.
inventories of propane dropped 1.5 million barrels to 25.3 last week,
which is well below the 5-year average range. Midwest stocks fell 1.3
million barrels, while the Gulf Coast stocks were down 0.4 million barrels.
East Coast propane stocks increased by 0.2 million barrels and the Rocky
Mountain/West Coast region also grew slightly. Propylene non-fuel use
inventories decreased their share of total propane/propylene stocks from 9.4
percent to 8.5 percent.
The average residential propane price dropped 2.5 cents
per gallon to reach 265.0 cents per gallon. This was an increase of 40.4
cents per gallon compared to the same period last year. Wholesale propane
prices dropped 3.8 cents per gallon to reach 130.9 cents per gallon. This
was an increase of 58.5 cents per gallon when compared to the March 9, 2009
price of 72.4 cents per gallon.
