Fuel Report: Gasoline Prices Jump Higher

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price fell less than 1 cent, remaining at $3.04 per gallon on July 1, 19 cents lower than a year ago. The Rocky Mountain price fell over 3 cents to $3.00 per gallon, and the West Coast and Midwest prices each fell less than 1 cent to $3.63 per gallon and $2.92 per gallon, respectively. The Gulf Coast price increased nearly 1 cent, remaining at $2.80 per gallon, and the East Coast price increased less than 1 cent, remaining at $3.08 per gallon.

The U.S. average regular gasoline retail price increased nearly 6 cents from the previous week to $2.71 per gallon on July 1, 13 cents lower than the same time last year. The East Coast price increased nearly 9 cents to $2.63 per gallon, and the Midwest and Gulf Coast prices each increased nearly 7 cents to $2.63 per gallon and $2.37 per gallon, respectively. The Rocky Mountain price fell nearly 5 cents to $2.82 per gallon, and the West Coast price fell less than 1 cent, remaining at $3.39 per gallon.

U.S. propane/propylene stocks increased by 1.3 million barrels last week to 77.2 million barrels as of June 28, 2019, 8.4 million barrels (12.3%) greater than the five-year (2014-2018) average inventory levels for this same time of year. Midwest, East Coast, and Rocky Mountain/West Coast inventories increased by 1.2 million barrels, 0.5 million barrels, and 0.3 million barrels, respectively. Gulf Coast inventories decreased by 0.7 million barrels. Propylene non-fuel-use inventories represented 6.3% of total propane/propylene inventories.


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