Fuel Report: Diesel 8 Cents Higher Than a Year Ago

The U.S. average diesel fuel price rose nearly 3 cents from the previous week to $3.08 per gallon on March 4, 8 cents higher than a year ago. The Midwest price increased nearly 5 cents to $3.01 per gallon, the East Coast and Rocky Mountain prices each increased nearly 3 cents to $3.12 per gallon and $2.94 per gallon, respectively, the Gulf Coast price increased more than 2 cents to $2.87 per gallon, and the West Coast price increased 1 cent to $3.50 per gallon.

The U.S. average regular gasoline retail price rose more than 3 cents from the previous week to $2.42 per gallon on March 4, down 14 cents from the same time last year. The Gulf Coast price increased nearly 7 cents to $2.18 per gallon, the East Coast price increased nearly 4 cents to $2.39 per gallon, the Midwest price increased over 2 cents to $2.33 per gallon, the Rocky Mountain price increased nearly 2 cents to $2.21 per gallon, and the West Coast price increased over 1 cent to $2.95 per gallon.

U.S. propane/propylene stocks decreased by 2.0 million barrels last week to 51.4 million barrels as of March 1, 2019, 5.1 million barrels (10.9%) greater than the five-year (2014-2018) average inventory levels for this same time of year. Midwest and East Coast inventories decreased by 1.8 million barrels and 0.7 million barrels, respectively, while Gulf Coast inventories increased by 0.4 million barrels and Rocky Mountain/West Coast inventories rose slightly, remaining virtually unchanged. Propylene non-fuel-use inventories represented 12.8% of total propane/propylene inventories.

Residential propane prices averaged nearly $2.43 per gallon, less than 1 cent per gallon lower than last week’s price and nearly 11 cents per gallon lower than a year ago. Wholesale propane prices averaged nearly $0.83 per gallon, 5 cents per gallon lower than last week and 2 cents per gallon below last year’s price.

As of March 4, 2019, residential heating oil prices averaged $3.23 per gallon, less than 1 cent per gallon higher than last week’s price and almost 16 cents per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged $2.13 per gallon, 2 cents per gallon less than last week but nearly 16 cents per gallon above last year’s price.


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