Diesel, Gas Prices Decline

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price decreased almost 3 cents from last week to $3.36 per gallon on October 29, 2018, 54 cents higher than a year ago. Gulf Coast prices fell nearly four cents to $3.12 per gallon, West Coast, East Coast, and Midwest prices each fell over two cents to $3.85 per gallon, $3.35 per gallon, and $3.31 per gallon, respectively, and Rocky Mountain prices decreased less than a cent, remaining virtually unchanged at $3.41 per gallon.

The U.S. average regular gasoline retail price decreased 3 cents from last week to $2.81 per gallon on October 29, 2018, up 32 cents from the same time last year. Gulf Coast prices fell nearly six cents to $2.52 per gallon, East Coast prices decreased over four cents to $2.73 per gallon, West Coast prices decreased nearly two cents to $3.48 per gallon, Midwest prices fell nearly one cent to $2.68 per gallon, and Rocky Mountain prices decreased less than a cent, remaining virtually unchanged at $2.96 per gallon.

U.S. propane/propylene stocks increased by 1.0 million barrels last week to 83.0 million barrels as of October 26, 2018, 2.1 million barrels (2.5%) lower than the five-year (2013-2017) average inventory level for this same time of year. Gulf Coast and Rocky Mountain/West Coast inventories increased by 1.4 million barrels and 0.1 million barrels, respectively, while Midwest and East Coast inventories decreased by 0.3 million barrels and 0.2 million barrels, respectively. Propylene non-fuel-use inventories represented 3.9% of total propane/propylene inventories.

Residential propane prices averaged nearly $2.42 per gallon, virtually unchanged from last week and seven cents per gallon higher than a year ago. Wholesale propane prices averaged $0.93 per gallon, almost 8 cents per gallon less than last week and 14 cents per gallon lower than a year ago.

As of October 29, 2018, residential heating oil prices averaged $3.37 per gallon, unchanged from last week’s price but nearly 68 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week is nearly $2.40 per gallon, almost 1 cent per gallon more than last week and 44 cents per gallon higher than a year ago.


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