Fuel Report: Gas, Diesel Prices Down, Propane Stocks Rise

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price fell more than 2 cents from the previous week to $3.05 per gallon on December 9, 11 cents lower than a year ago. The West Coast price fell by nearly 6 cents to $3.65 per gallon, the Rocky Mountain price fell by more than 3 cents to $3.21 gallon, the Gulf Coast price fell by 2 cents to $2.76 per gallon, the Midwest price fell by nearly 2 cents to $2.97 per gallon, and the East Coast price fell by nearly 1 cent to $3.05 per gallon.

The U.S. average regular gasoline retail price fell more than 1 cent from the previous week to $2.56 per gallon on December 9, 14 cents higher than the same time last year. The West Coast price fell 7 cents to $3.34 per gallon, the Rocky Mountain price fell nearly 3 cents to $2.79 per gallon, and the Gulf Coast price fell more than 2 cents to $2.20 per gallon. The East Coast and Midwest prices remained unchanged at $2.48 per gallon and $2.42 per gallon, respectively.

U.S. propane/propylene stocks increased by 1.7 million barrels last week to 93.5 million barrels as of December 6, 2019, 7.4 million barrels (8.6%) greater than the five-year (2014-18) average inventory levels for this same time of year. Gulf Coast and Rocky Mountain inventories increased by 3.3 million barrels and 0.1 million barrels, respectively. Midwest and East Coast inventories decreased by 1.1 million barrels and 0.6 million barrels, respectively. Propylene non-fuel-use inventories represented 5.8% of total propane/propylene inventories.

Residential propane prices averaged more than $2.02 per gallon, almost 1 cent per gallon lower than last week’s price and nearly 42 cents per gallon less than a year ago. Wholesale propane prices averaged more than $0.83 per gallon, more than 7 cents per gallon lower than last week’s price and nearly 8 cents per gallon below last year’s price.

As of December 9, 2019, residential heating oil prices averaged almost $3.02 per gallon, more than 1 cent per gallon above last week’s price but more than 18 cents per gallon below last year’s price at this time. Wholesale heating oil prices averaged nearly $2.07 per gallon, more than 2 cents per gallon higher than last week’s price and more than 7 cents per gallon higher than a year ago.




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