Diesel, Gasoline Prices Continue Decline

The U.S. average diesel fuel price decreased more than 5 cents from last week to $3.21 per gallon on December 3, 2018, almost 29 cents higher than a year ago. Midwest prices fell nearly 7 cents to $3.12 per gallon, while West Coast, Rocky Mountain, East Coast, and Gulf Coast prices each decreased nearly 5 cents to $3.69 per gallon, $3.29 per gallon, $3.23 per gallon, and $2.99 per gallon, respectively.

The U.S. average regular gasoline retail price decreased nearly 9 cents from last week to $2.45 per gallon on December 3, 2018, down nearly 5 cents from the same time last year. Midwest prices fell nearly 12 cents to $2.20 per gallon, Gulf Coast prices decreased more than 9 cents to $2.12 per gallon, Rocky Mountain and East Coast prices each fell nearly 8 cents to $2.72 per gallon and $2.42 per gallon, respectively, and West Coast prices decreased nearly 7 cents to $3.24 per gallon.

U.S. propane/propylene stocks decreased by 1.3 million barrels last week to 79.8 million barrels as of November 30, 2018, 2.8 million barrels (3.4%) lower than the five-year (2013-2017) average inventory level for this same time of year. Midwest and East Coast inventories decreased by 0.8 million barrels and 0.5 million barrels, respectively, while Rocky Mountain/West Coast inventories dipped slightly and Gulf Coast inventories rose slightly, each remaining virtually unchanged. Propylene non-fuel-use inventories represented 5.6% of total propane/propylene inventories.

Residential propane prices averaged nearly $2.43 per gallon, less than 1 cent per gallon higher than last week but almost 3 cents per gallon lower than a year ago. Wholesale propane prices averaged $0.84 per gallon, almost 2 cents per gallon less than last week and nearly 27 cents per gallon lower than a year ago.

As of December 3, 2018, residential heating oil prices averaged $3.20 per gallon, 7 cents per gallon less than last week’s price but 33 cents per gallon higher than last year’s price at this time. The average wholesale heating oil price for this week averaged almost $1.97 per gallon, 8 cents per gallon less than last week and almost 7 cents per gallon lower than a year ago.


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