Diesel, Gasoline Prices Decrease

The U.S. average diesel fuel price dropped over 2 cents to $3.06 per gallon on February 12, 2018, 50 cents higher than a year ago. West Coast prices fell nearly three cents to $3.43 per gallon, Midwest, Gulf Coast, and East Coast prices each fell over two cents to $3.02 per gallon, $2.85 per gallon, and $3.11 per gallon, respectively, and Rocky Mountain prices fell one cent to $2.97 per gallon.

The U.S. average regular gasoline retail price dropped 3 cents from the previous week to $2.61 per gallon on February 12, 2018, up 30 cents from the same time last year. Midwest prices decreased over seven cents to $2.46 per gallon, Gulf Coast prices decreased nearly four cents to $2.33 per gallon, and East Coast and West Coast prices each decreased less than one cent to $2.61 per gallon and $3.14 per gallon, respectively. Rocky Mountain prices increased over one cent to $2.51 per gallon.

U.S. propane/propylene stocks decreased by 3.3 million barrels last week to 45.6 million barrels as of February 9, 2018, 9.0 million barrels (16.5%) lower than the five-year average inventory level for this same time of year. Gulf Coast, Midwest, East Coast, and Rocky Mountain/West Coast inventories decreased by 1.3 million barrels, 1.0 million barrels, 0.9 million barrels, and 0.1 million barrels, respectively. Propylene non-fuel-use inventories represented 7.0% of total propane/propylene inventories.

Residential propane prices averaged nearly $2.58 per gallon, 1 cent lower than last week but 12 cents per gallon higher than a year ago. Wholesale propane prices averaged almost $1.07 per gallon, 7 cents per gallon less than last week but 20 cents per gallon higher than last year’s price.

As of February 12, 2018, residential heating oil prices averaged $3.13 per gallon, nearly 7 cents per gallon lower than last week but 49 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged almost $1.99 per gallon, 20 cents per gallon lower than last week but 24 cents per gallon higher than a year ago.

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