Fuel Report: Propane Stocks Continue to Fall

Photo: Blackhawk Propane

The U.S. average diesel fuel price rose by less than 1 cent to remain at $3.07 per gallon on November 18, 21 cents lower than a year ago. The Rocky Mountain price increased by nearly 3 cents to 3.23 per gallon, and the East Coast price rose by less than 1 cent, remaining at $3.05 per gallon. The Gulf Coast price fell by less than 1 cent to $2.79 per gallon, and the West Coast and Midwest prices each decreased by less than 1 cent, remaining at $3.76 per gallon and $2.97 per gallon, respectively.

The U.S. average regular gasoline retail fell more than 2 cents from the previous week to $2.59 per gallon on November 18, 2 cents lower than the same time last year. The West Coast price fell by more than 5 cents to $3.54 per gallon, the Gulf Coast price fell by more than 4 cents to $2.22 per gallon, the East Coast price fell by more than 2 cents to $2.45 per gallon, and the Midwest price fell less than 1 cent, remaining at $2.44 per gallon. The Rocky Mountain price increased by nearly 2 cents to $2.84 per gallon.

U.S. propane/propylene stocks decreased by 3.4 million barrels last week to 94.2 million barrels as of November 15, 2019, 5.8 million barrels (6.6%) greater than the five-year (2014-18) average inventory levels for this same time of year. Gulf Coast and Midwest inventories decreased by 2.5 million barrels and 1.5 million barrels, respectively. East Coast inventories increased by 0.5 million barrels, and Rocky Mountain/West Coast inventories increased slightly, remaining virtually unchanged. Propylene non-fuel-use inventories represented 5.4% of total propane/propylene inventories.

Residential propane prices averaged more than $1.99 per gallon, 5 cents per gallon higher than last week’s price but more than 43 cents per gallon lower than a year ago. Wholesale propane prices averaged nearly $0.85 per gallon, almost 9 cents per gallon higher than last week’s price but nearly 6 cents per gallon below last year’s price.

As of November 18, 2019, residential heating oil prices averaged almost $2.99 per gallon, more than 1 cent per gallon above last week’s price but 33 cents per gallon below last year’s price at this time. Wholesale heating oil prices averaged nearly $2.06 per gallon, almost 3 cents per gallon more than last week’s price but nearly 13 cents per gallon less than a year ago.


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