Diesel, Gas Prices Rise

The U.S. average diesel fuel price rose nearly 2 cents to $3.09 per gallon on February 5, 2018, 53 cents higher than a year ago. West Coast prices rose nearly three cents to $3.46 per gallon, East Coast prices rose two cents to $3.13 per gallon, Midwest and Rocky Mountain prices each increased over one cent to $3.04 per gallon and $2.98 per gallon, respectively, and Gulf Coast prices increased less than one cent, remaining at $2.87 per gallon.

The U.S. average regular gasoline retail price rose 3 cents from the previous week to $2.64 per gallon on February 5, 2018, up 34 cents from the same time last year. West Coast prices increased nearly six cents to $3.15 per gallon, East Coast and Midwest prices each increased nearly three cents to $2.61 per gallon and $2.54 per gallon, respectively, Gulf Coast prices increased two cents to $2.37 per gallon, and Rocky Mountain prices increased over one cent to nearly $2.50 per gallon.

U.S. propane/propylene stocks decreased by 4.1 million barrels last week to 48.9 million barrels as of February 2, 2018, 8.4 million barrels (14.7%) lower than the five-year average inventory level for this same time of year. Gulf Coast, Midwest, and Rocky Mountain/West Coast inventories decreased by 2.2 million barrels, 1.9 million barrels, and 0.2 million barrels, respectively, while East Coast inventories increased by 0.2 million barrels. Propane/propylene non-fuel-use inventories represented 6.1% of total propane inventories.

Residential propane prices averaged nearly $2.60 per gallon, virtually unchanged from last week but 14 cents per gallon higher than a year ago. Wholesale propane prices averaged $1.14 per gallon, almost 3 cents per gallon less than last week but 15 cents per gallon higher than last year’s price.

As of February 5, 2018, residential heating oil prices averaged $3.20 per gallon, almost 2 cents per gallon lower than last week but 56 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged $2.19 per gallon, 8 cents per gallon lower than last week but 46 cents per gallon higher than a year ago.


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