Fuel Report: Diesel, Gas Prices Climb

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price rose more than 4 cents from the previous week to $3.05 per gallon on February 25, 4 cents higher than a year ago. The Midwest price rose nearly seven cents to $2.97 per gallon, the Gulf Coast price rose 4 cents to $2.85 per gallon, the West Coast price rose nearly 4 cents to $3.49 per gallon, the Rocky Mountain price rose nearly 3 cents to $2.91 per gallon, and the East Coast price rose 2 cents to $3.09 per gallon.

The U.S. average regular gasoline retail price rose more than 7 cents from the previous week to $2.39 per gallon on February 25, down 16 cents from the same time last year. The Midwest price rose 10 cents to $2.31 per gallon, the East Coast price rose 8 cents to $2.35 per gallon, the Gulf Coast price rose nearly 7 cents to $2.11 per gallon, and the West Coast and Rocky Mountain prices each rose 1 cent to $2.93 per gallon and $2.19 per gallon, respectively.

U.S. propane/propylene stocks decreased by 1.2 million barrels last week to 53.4 million barrels as of February 22, 2019, 4.5 million barrels (9.1%) 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 0.8 million barrels, 0.5 million barrels, and 0.2 million barrels, respectively, while East Coast inventories increased by 0.4 million barrels. Propylene non-fuel-use inventories represented 12.4% of total propane/propylene inventories.

Residential propane prices averaged $2.43 per gallon, less than 1 cent per gallon higher than last week’s price but almost 13 cents per gallon lower than a year ago. Wholesale propane prices averaged nearly $0.88 per gallon, almost 5 cents per gallon higher than last week but 10 cents per gallon below last year’s price.

As of February 25, 2019, residential heating oil prices averaged $3.23 per gallon, nearly 1 cent per gallon higher than last week’s price and almost 14 cents per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged $2.15 per gallon, 1 cent per gallon more than last week and nearly 8 cents per gallon above last year’s price.


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