The U.S. average diesel fuel price dropped nearly 2 cents to $2.98 per gallon on March 12, 2018, 41 cents higher than a year ago. East Coast and Midwest prices fell over two cents to $3.02 per gallon and $2.90 per gallon, respectively, Gulf Coast prices fell over one cent to $2.78 per gallon, and Rocky Mountain and West Coast prices fell nearly one cent to $2.90 per gallon and $3.39 per gallon, respectively.
The U.S. average regular gasoline retail price dipped slightly from the previous week, remaining virtually unchanged at $2.56 per gallon on March 12, 2018, up almost 24 cents from the same time last year. East Coast prices decreased nearly three cents to $2.51 per gallon, Rocky Mountain decreased over one cent to $2.42 per gallon, and Gulf Coast prices decreased less than one cent to $2.27 per gallon. West Coast prices increased nearly three cents to $3.17 per gallon, and Midwest prices increased just over one cent to $2.44 per gallon.
U.S. propane/propylene stocks decreased by 2.3 million barrels last week to 38.8 million barrels as of March 9, 2018, 7.1 million barrels (15.5%) lower than the five-year average inventory level for this same time of year. Gulf Coast and Rocky Mountain/West Coast inventories decreased by 2.6 million barrels and 0.1 million barrels, respectively, while East Coast and Midwest inventories rose by 0.2 million barrels and 0.1 million barrels, respectively. Propylene non-fuel-use inventories represented 8.6% of total propane/propylene inventories.
Residential propane prices averaged $2.50 per gallon, 3 cents per gallon lower than last week but 9 cents per gallon higher than a year ago. Wholesale propane prices averaged almost $0.84 per gallon, 1 cent per gallon lower than last week but 10 cents per gallon higher than last year’s price.
As of March 12, 2018, residential heating oil prices averaged $3.06 per gallon, over 1 cent per gallon lower than last week but nearly 45 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged $1.98 per gallon, nearly 1 cent per gallon higher than last week and 38 cents per gallon higher than a year ago.