U.S. propane stocks decreased by 0.3 million barrels last week to 62.2 million barrels as of March 18, 2016, 7.2 million barrels (13.1%) higher than a year ago. Gulf Coast inventories decreased by 0.4 million barrels. East Coast inventories increased by 0.1 million barrels, while Rocky Mountain/West Coast and Midwest inventories remained unchanged. Propylene non-fuel-use inventories represented 5.0% of total propane inventories.
Residential heating oil price increases while propane decreases
As of March 21, 2016, residential heating oil prices averaged $2.13 per gallon, one cent per gallon higher than last week and nearly 80 cents per gallon lower than last year’s price for the same week. The wholesale heating oil price this week averaged $1.31 per gallon, 2 cents per gallon higher than last week but 59 cents per gallon lower than a year ago.
Residential propane prices decreased last week by nearly a penny per gallon to average $2.01 per gallon, 31 cents per gallon lower than one year ago. Wholesale propane prices averaged 53 cents per gallon, 2 cents per gallon lower than last week and nearly 10 cents per gallon lower than the price last year.