Diesel Prices Down Slightly, Gasoline Drops

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price decreased 2 cents from last week to $3.32 per gallon on November 12, 2018, 40 cents higher than a year ago. West Coast prices fell nearly three cents to $3.81 per gallon, Midwest and Gulf Coast prices each decreased more than two cents to $3.26 per gallon and $3.09 per gallon, respectively, Rocky Mountain prices fell two cents to $3.38 per gallon, and East Coast prices fell nearly two cents to $3.31 per gallon.

The U.S. average regular gasoline retail price decreased nearly seven cents from last week to $2.69 per gallon on November 12, 2018, up nine cents from the same time last year. Midwest prices fell more than nine cents to $2.51 per gallon, Gulf Coast prices decreased nearly seven cents to $2.39 per gallon, East Coast prices fell nearly six cents to $2.62 per gallon, West Coast prices decreased nearly five cents to $3.40 per gallon, and Rocky Mountain prices fell more than four cents to $2.89 per gallon.

U.S. propane/propylene stocks decreased by 0.8 million barrels last week to 83.8 million barrels as of November 9, 2018, 0.3 million barrels (0.3%) lower than the five-year (2013-2017) average inventory level for this same time of year. Gulf Coast and Midwest inventories decreased by 0.8 million barrels and 0.5 million barrels, respectively. East Coast inventories increased by 0.5 million barrels and Rocky Mountain/West Coast inventories increased slightly, remaining virtually unchanged. Propylene non-fuel-use inventories represented 4.7% of total propane/propylene inventories.

Residential propane prices averaged $2.42 per gallon, virtually unchanged from last week and almost four cents per gallon higher than a year ago. Wholesale propane prices averaged nearly $0.82 per gallon, almost 6 cents per gallon less than last week and nearly 27 cents per gallon lower than a year ago.

As of November 12, 2018, residential heating oil prices averaged almost $3.35 per gallon, less than 1 cent per gallon lower than last week’s price but almost 55 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week is almost $2.28 per gallon, virtually unchanged from last week but 25 cents per gallon higher than a year ago.


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