Propane inventories fall
U.S. propane stocks decreased by 1.3 million barrels last week to 97.6 million barrels as of December 18, 2015, 19.8 million barrels (25.4%) higher than a year ago. Midwest inventories decreased by 1.2 million barrels and Rocky Mountain/West Coast inventories decreased by 0.1 million barrels. East Coast inventories and Gulf Coast inventories both remained unchanged. Propylene non-fuel-use inventories represented 3.1% of total propane inventories.
Residential heating oil price decreases while propane price increases
As of December 21, 2015, residential heating oil prices averaged $2.21 per gallon, almost 5 cents per gallon lower than last week and an 87 cent decrease from one year ago. The average wholesale heating oil price this week is $1.14 per gallon, 3 cents lower than last week and 93 cents per gallon lower than a year ago.
Residential propane prices averaged $1.98 per gallon, almost 1 cent per gallon higher than last week’s price and nearly 40 cents lower than one year ago. Wholesale propane prices averaged 42 cents per gallon, almost 4 cents per gallon lower than last week and 25 cents lower than last year’s price for the same week.