Diesel, Gasoline Prices Drop

The U.S. average diesel fuel price decreased nearly 4 cents from last week to $3.28 per gallon on November 19, 2018, 37 cents higher than a year ago. Midwest prices fell nearly five cents to $3.22 per gallon, West Coast and Gulf Coast prices each fell four cents to $3.77 per gallon and $3.05 per gallon, respectively, and Rocky Mountain and East Coast prices each fell nearly two cents to $3.36 per gallon and $3.30 per gallon, respectively.

The U.S. average regular gasoline retail price decreased nearly eight cents from last week to $2.61 per gallon on November 19, 2018, up four cents from the same time last year. Midwest prices fell nearly 10 cents to $2.42 per gallon, Gulf Coast prices decreased nearly 8 cents to $2.31 per gallon, East Coast prices fell nearly 7 cents to $2.55 per gallon, Rocky Mountain prices decreased over 6 cents to $2.83 per gallon, and West Coast prices fell more than 5 cents to $3.35 per gallon.

U.S. propane/propylene stocks decreased by 2.0 million barrels last week to 81.8 million barrels as of November 16, 2018, 1.9 million barrels (2.3%) lower than the five-year (2013-2017) average inventory level for this same time of year. Gulf Coast inventories decreased by 1.0 million barrels, East Coast inventories decreased by 0.5 million barrels, and Midwest and Rocky Mountain/West Coast inventories each decreased by 0.2 million barrels. Propylene non-fuel-use inventories represented 4.4% of total propane/propylene inventories.

Residential propane prices averaged $2.42 per gallon, up slightly from last week and less than one cent per gallon higher than a year ago. Wholesale propane prices averaged almost $0.91 per gallon, nearly 9 cents per gallon more than last week but almost 22 cents per gallon lower than a year ago.

As of November 19, 2018, residential heating oil prices averaged almost $3.32 per gallon, 3 cents per gallon less than last week’s price but 49 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged almost $2.19 per gallon, 9 cents per gallon less than last week but 14 cents per gallon higher than a year ago.


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