Fuel Report: Diesel 2 Cents Above Last Year; Propane Stocks Low

Photo: ©Debra L Ferguson

The U.S. average diesel fuel price decreased nearly 4 cents from last week to $3.01 per gallon on January 7, 2019, nearly 2 cents per gallon higher than a year ago. Rocky Mountain prices fell nearly 5 cents to $3.03 per gallon, East Coast prices decreased more than 4 cents to $3.07 per gallon, Midwest prices decreased nearly 4 cents to $2.87 per gallon, West Coast prices fell more than 3 cents to $3.53 per gallon, and Gulf Coast prices fell 2 cents to $2.82 per gallon.

The U.S. average regular gasoline retail price decreased nearly 3 cents from last week to $2.24 per gallon on January 7, 2019, down nearly 29 cents per gallon from the same time last year. Rocky Mountain prices fell nearly 6 cents to $2.37 per gallon, West Coast and Gulf Coast prices each decreased 4 cents to $3.01 per gallon and $1.89 per gallon, respectively, East Coast prices decreased nearly 4 cents to $2.22 per gallon, and Midwest prices fell less than 1 cent to $2.00 per gallon.

U.S. propane/propylene stocks decreased by 1.9 million barrels last week to 68.7 million barrels as of January 4, 2019, 2.4 million barrels (3.4%) lower than the five-year (2014-2018) average inventory level for this same time of year. Gulf Coast, Midwest, and East Coast inventories decreased by 1.0 million barrels, 0.6 million barrels, and 0.2 million barrels, respectively, while Rocky Mountain/West Coast inventories decreased slightly, remaining virtually unchanged. Propylene non-fuel-use inventories represented 7.4% of total propane/propylene inventories.

Residential propane prices averaged $2.43 per gallon, a slight drop from last week and nearly 12 cents per gallon lower than a year ago. Wholesale propane prices averaged almost $0.77 per gallon, nearly 3 cents per gallon lower than last week and 38 cents per gallon below last year’s price.

As of January 7, 2019, residential heating oil prices averaged almost $3.10 per gallon, less than 1 cent per gallon lower than last week’s price and nearly 8 cents per gallon lower than last year’s price at this time. The average wholesale heating oil price for this week averaged almost $1.89 per gallon, 11 cents per gallon more than last week but nearly 31 cents per gallon lower than a year ago.


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