Diesel, Gas Prices Up Slightly

The U.S. average diesel fuel price rose more than 2 cents to $3.00 per gallon on January 8, 2018, 40 cents higher than a year ago. The East Coast price increased nearly five cents to $3.03 per gallon, the West Coast price increased three cents to $3.39 per gallon, and the Midwest and Gulf Coast prices each increased over one cent to $2.95 per gallon and $2.79 per gallon. The Rocky Mountain price fell less than one cent to $2.97 per gallon.

The U.S. average regular gasoline retail price rose slightly from the previous week, remaining at $2.52 per gallon on January 8, 2018, up 13 cents from the same time last year. The West Coast price rose nearly four cents to $3.01 per gallon, the East Coast price rose one cent to $2.50 per gallon, and the Gulf Coast and Rocky Mountain prices each rose less than one cent, remaining at $2.24 per gallon and $2.44 per gallon, respectively. The Midwest price fell nearly three cents to $2.43 per gallon.

U.S. propane stocks decreased by 6.3 million barrels last week to 61.7 million barrels as of January 5, 2018, 10.2 million barrels (14.2%) lower than the five-year average inventory level for this same time of year. Midwest, Gulf Coast, East Coast, and Rocky Mountain/West Coast inventories decreased by 2.8 million barrels, 2.6 million barrels, 0.7 million barrels, and 0.2 million barrels, respectively. Propylene non-fuel-use inventories represented 4.0% of total propane inventories.

Residential propane prices averaged $2.55 per gallon, 3 cents per gallon more than last week and 25 cents per gallon higher than a year ago. Wholesale propane prices averaged nearly $1.15 per gallon, 3 cents per gallon more than last week and 29 cents per gallon higher than last year’s price.

As of January 8, 2018, residential heating oil prices averaged almost $3.18 per gallon, 9 cents per gallon more than last week and 53 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged nearly $2.20 per gallon, nearly 2 cents per gallon more than last week and almost 43 cents per gallon higher than a year ago.

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