Fuel Prices Unchanged, Propane Stocks Continue Lower

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price remained unchanged at $2.97 per gallon on January 28, nearly 11 cents lower than a year ago. The Rocky Mountain price fell over 3 cents to $2.91 per gallon, the West Coast price fell nearly 2 cents to $3.45 per gallon, and the Midwest and Gulf Coast prices each fell slightly, remaining at $2.81 per gallon and $2.79 per gallon, respectively. The East Coast price rose over 1 cent to $3.05 per gallon.

The U.S. average regular gasoline retail price rose less than 1 cent from the previous week to $2.26 per gallon on January 28, down 35 cents from the same time last year. The Gulf Coast price rose nearly 5 cents to $1.96 per gallon, the Midwest price rose over 1 cent to $2.05 per gallon, and the East Coast price rose nearly 1 cent to $2.25 per gallon. The Rocky Mountain price fell four cents to $2.23 per gallon, and the West Coast price fell nearly 3 cents to $2.93 per gallon.

U.S. propane/propylene stocks decreased by 3.6 million barrels last week to 60.2 million barrels as of January 25, 2019, 0.1 million barrels (0.1%) higher than the five-year (2014-2018) average inventory levels for this same time of year. Midwest, Gulf Coast, and East Coast inventories decreased by 1.6 million barrels, 1.2 million barrels, and 0.8 million barrels, respectively, and Rocky Mountain/West Coast inventories decreased slightly, remaining virtually unchanged. Propylene non-fuel-use inventories represented 9.7% of total propane/propylene inventories.

Residential propane prices averaged almost $2.43 per gallon, less than 1 cent per gallon higher than last week but nearly 17 cents per gallon lower than a year ago. Wholesale propane prices averaged $0.80 per gallon, unchanged from last week but almost 37 cents per gallon lower than a year ago.

As of January 28, 2019, residential heating oil prices averaged $3.17 per gallon, less than 1 cent per gallon higher than last week’s price but 5 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $2.01 per gallon, 2 cents per gallon less than last week and 26 cents per gallon below last year’s price.


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