Diesel, Gas Prices Up Slightly

Diesel fillup on the farm. ©Debra L Ferguson Stock Photography

The U.S. average diesel fuel price increased nearly 1 cent and remained at $3.39 per gallon on October 15, 2018, 61 cents higher than a year ago. The East Coast price rose over two cents to $3.38 per gallon, the West Coast price rose over one cent to $3.88 per gallon, the Rocky Mountain price rose one cent to $3.40 per gallon, and the Gulf Coast price rose less than one cent, remaining at $3.17 per gallon. The Midwest price was unchanged at $3.35 per gallon.

The U.S. average regular gasoline retail price fell over 2 cents from the previous week to $2.88 per gallon on October 15, 2018, up 39 cents from the same time last year. The Midwest price fell over six cents to $2.76 per gallon, and the Rocky Mountain and East Coast prices each fell nearly two cents to $2.98 per gallon and $2.81 per gallon, respectively. The West Coast price increased nearly two cents to $3.49 per gallon, and the Gulf Coast price increased less than one cent, remaining at $2.63 per gallon.

U.S. propane/propylene stocks increased by 2.0 million barrels last week to 82.3 million barrels as of October 12, 2018, 4.3 million barrels (4.9%) lower than the five-year (2013-2017) average inventory level for this same time of year. Gulf Coast inventories increased by 2.4 million barrels, and Rocky Mountain/West Coast and Midwest inventories each increased by 0.1 million barrels. East Coast inventories decreased by 0.5 million barrels. Propylene non-fuel-use inventories represented 2.9% of total propane/propylene inventories.

Residential propane prices averaged $2.40 per gallon, one cent per gallon more than last week and nearly nine cents per gallon higher than a year ago. Wholesale propane prices averaged nearly $1.01 per gallon, almost one cent per gallon less than last week and nearly three cents per gallon lower than last year’s price.

As of October 15, 2018, residential heating oil prices averaged $3.36 per gallon, 1 cent per gallon more than last week and nearly 71 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week is nearly $2.41 per gallon, almost 7 cents per gallon less than last week but nearly 52 cents per gallon higher than a year ago.


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