The U.S. average diesel fuel price increased more than 4 cents from last week to $3.31 per gallon on October 1, 2018, 52 cents higher than a year ago. Midwest prices rose six cents to $3.28 per gallon, West Coast prices increased over four cents to $3.80 per gallon, East Coast prices increased nearly four cents to $3.29 per gallon, Gulf Coast prices rose nearly three cents to $3.08 per gallon, and Rocky Mountain prices increased over one cent to $3.37 per gallon.
The U.S. average regular gasoline retail price increased over 2 cents from last week to $2.87 per gallon on October 1, 2018, up 30 cents from the same time last year. West Coast prices increased more than six cents to $3.41 per gallon, Gulf Coast prices rose over three cents to $2.59 per gallon, East Coast prices increased over two cents to $2.79 per gallon, and Midwest prices rose less than a cent, remaining virtually unchanged at $2.79 per gallon. Rocky Mountain prices decreased more than a cent to $3.00 per gallon.
U.S. propane/propylene stocks increased by 2.4 million barrels last week to 78.7 million barrels as of September 28, 2018, 6.6 million barrels (7.7%) lower than the five-year (2013-2017) average inventory level for this same time of year. Gulf Coast and Midwest inventories increased by 1.7 million barrels and 1.1 million barrels, respectively, while East Coast and Rocky Mountain/West Coast inventories decreased by 0.3 million barrels and 0.1 million barrels, respectively. Propylene non-fuel-use inventories represented 2.7% of total propane/propylene inventories.
Residential propane prices entered the 2018-19 heating season at an average of nearly $2.38 per gallon, 10 cents per gallon higher than at the start of last winter’s heating season. Wholesale propane prices averaged nearly $1.01 per gallon, less than one cent per gallon higher than the first week in October last year.
As of October 1, 2018, residential heating oil prices averaged $3.31 per gallon, 64 cents per gallon higher than at the start of last heating season. The average wholesale heating oil price for the start of the 2018-19 heating season is nearly $2.44 per gallon, 54 cents per gallon above the first week of the 2017–18 heating season.