Fuel Costs Mostly Lower; Propane Stocks Down Nearly 4 Mln Barrels

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price decreased more than 1 cent from last week to $2.97 per gallon on January 21, 2019, 6 cents per gallon lower than a year ago. Rocky Mountain prices fell more than 4 cents to $2.94 per gallon, Midwest prices decreased nearly 2 cents to $2.81 per gallon, East Coast prices fell more than 1 cent to $3.04 per gallon, and West Coast prices decreased nearly 1 cent to $3.46 per gallon. Gulf Coast prices rose less than a cent, remaining at $2.79 per gallon.

The U.S. average regular gasoline retail price increased less than 1 cent from last week to remain at $2.25 per gallon on January 21, 2019, down 32 cents per gallon from the same time last year. Rocky Mountain prices fell more than 3 cents to $2.27 per gallon, West Coast prices decreased more than 2 cents to $2.96 per gallon, and Midwest prices fell nearly 1 cent to $2.04 per gallon. East Coast prices rose nearly 3 cents to $2.24 per gallon and Gulf Coast prices increased less than 1 cent, remaining at $1.91.

U.S. propane/propylene stocks decreased by 3.7 million barrels last week to 63.8 million barrels as of January 18, 2019, 0.1 million barrels (0.1%) greater than the five-year (2014-2018) average inventory levels for this same time of year. Gulf Coast, Midwest, and Rocky Mountain/West Coast inventories decreased by 2.1 million barrels, 1.2 million barrels, and 0.6 million barrels, respectively. East Coast inventories increased by 0.1 million barrels. Propylene non-fuel-use inventories represented 8.9% of total propane/propylene inventories.

Residential propane prices averaged almost $2.43 per gallon, less than 1 cent per gallon lower than last week and 18 cents per gallon lower than a year ago. Wholesale propane prices averaged $0.80 per gallon, 2 cents per gallon higher than last week but nearly 48 cents per gallon lower than a year ago.

As of January 21, 2019, residential heating oil prices averaged almost $3.17 per gallon, nearly 3 cents per gallon higher than last week’s price but almost 5 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $2.03 per gallon, almost 5 cents per gallon more than last week but nearly 18 cents per gallon below last year’s price.


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