Diesel, Gasoline Prices Jump Higher

The U.S. average diesel fuel price increased more than 7 cents from last week to $3.39 per gallon on October 8, 2018, 61 cents higher than a year ago. Gulf Coast prices increased nine cents to $3.17 per gallon, Midwest prices rose over seven cents to $3.35 per gallon, East Coast prices increased nearly seven cents to $3.36 per gallon, West Coast prices rose more than six cents to $3.87 per gallon, and Rocky Mountain prices increased over two cents to $3.39 per gallon.

The U.S. average regular gasoline retail price increased nearly 4 cents from last week to $2.90 per gallon on October 8, 2018, up 40 cents from the same time last year. West Coast prices increased more than six cents to $3.48 per gallon, and East Coast, Midwest, and Gulf Coast prices each rose over three cents to $2.83 per gallon, $2.82 per gallon, and $2.63 per gallon, respectively. Rocky Mountain prices decreased less than a cent, remaining at $3.00 per gallon.

U.S. propane/propylene stocks increased by 1.5 million barrels last week to 80.3 million barrels as of October 5, 2018, 5.8 million barrels (6.8%) lower than the five-year (2013-2017) average inventory level for this same time of year. Gulf Coast inventories increased by 0.8 million barrels, East Coast inventories increased by 0.5 million barrels, and Rocky Mountain/West Coast and Midwest inventories each increased by 0.2 million barrels. Propylene non-fuel-use inventories represented 2.5% of total propane/propylene inventories.

Residential propane prices averaged $2.39 per gallon, two cents per gallon more than last week and nearly nine cents per gallon higher than a year ago. Wholesale propane prices averaged nearly $1.02 per gallon, almost one cent per gallon more than last week but nearly one cent per gallon less than last year’s price.

As of October 8, 2018, residential heating oil prices averaged $3.35 per gallon, nearly 7 cents per gallon more than last week and 70 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week is $2.47 per gallon, nearly 4 cents per gallon more than last week and 64 cents per gallon higher than a year ago.


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