Gas Prices at Last Year’s Levels, Diesel Remains Above Last Year

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price decreased more than 2 cents from last week to $3.26 per gallon on November 26, 2018, 34 cents per gallon higher than a year ago. Midwest prices fell more than 3 cents to $3.19 per gallon, West Coast prices decreased nearly 3 cents to $3.74 per gallon, Rocky Mountain prices fell more than 2 cents to $3.34 per gallon, East Coast prices fell nearly 2 cents to $3.28 per gallon, and Gulf Coast prices decreased 1 cent to $3.04 per gallon.

The U.S. average regular gasoline retail price decreased more than 7 cents from last week to $2.54 per gallon on November 26, 2018, up less than 1 cent from the same time last year. Midwest prices fell more than 10 cents to $2.31 per gallon, Gulf Coast prices decreased more than 9 cents to $2.22 per gallon, East Coast prices fell nearly 6 cents to $2.50 per gallon, West Coast prices decreased 4 cents to $3.31 per gallon, and Rocky Mountain prices fell more than 3 cents to $2.80 per gallon.

U.S. propane/propylene stocks decreased by 0.6 million barrels last week to 81.1 million barrels as of November 23, 2018, 2.5 million barrels (3.0%) lower than the five-year (2013-2017) average inventory level for this same time of year. Midwest inventories decreased by 0.6 million barrels and Gulf Coast inventories decreased by 0.5 million barrels. East Coast inventories increased by 0.3 million barrels and Rocky Mountain/West Coast inventories increased by 0.1 million barrels. Propylene non-fuel-use inventories represented 5.1% of total propane/propylene inventories.

Residential propane prices averaged $2.42 per gallon, less than 1 cent per gallon lower than last week and more than 1 cent per gallon lower than a year ago. Wholesale propane prices averaged $0.86 per gallon, almost 5 cents per gallon less than last week and 26 cents per gallon lower than a year ago.

As of November 26, 2018, residential heating oil prices averaged $3.27 per gallon, 4 cents per gallon less than last week’s price but almost 43 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged $2.05 per gallon, nearly 14 cents per gallon less than last week but 1 cent per gallon higher than a year ago.


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