Fuel Report: Diesel, Gas Prices Down a Nickel

The U.S. average diesel fuel price fell more than 5 cents from the previous week to $2.96 per gallon on February 3, 1 cent lower than a year ago. The Midwest and the Gulf Coast prices each declined more than 6 cents to $2.84 per gallon and $2.71 per gallon, respectively, the West Coast price fell nearly 5 cents to $3.52 per gallon, the East Coast price fell more than 4 cents to $3.00 per gallon, and the Rocky Mountain price declined 4 cents to $2.94 per gallon.

The U.S. average regular gasoline retail price fell more than 5 cents from the previous week to $2.46 per gallon on February 3, 20 cents higher than the same time last year. The East Coast, Midwest, and Gulf Coast prices each fell nearly 6 cents to $2.39 per gallon, $2.31 per gallon, and $2.14 per gallon, respectively, the Rocky Mountain price declined nearly 3 cents to $2.53 per gallon, and the West Coast price fell almost 2 cents to $3.16 per gallon.

U.S. propane/propylene stocks increased by 0.6 million barrels last week to 83.4 million barrels as of January 31, 2020, 21.9 million barrels (35.7%) greater than the five-year (2015-19) average inventory levels for this same time of year. Gulf Coast and East Coast inventories increased by 1.1 million barrels and 0.5 million barrels, respectively. Midwest and Rocky Mountain/West Coast inventories decreased by 0.8 million barrels and 0.2 million barrels, respectively. Propylene non-fuel-use inventories represented 6.6% of total propane/propylene inventories.

Residential propane prices averaged nearly $1.99 per gallon, almost 1 cent per gallon below last week’s price and nearly 45 cents per gallon less than a year ago. Wholesale propane prices averaged almost $0.59 per gallon, nearly 2 cents per gallon higher than last week’s price but 24 cents per gallon below last year’s price.

As of February 3, 2020, residential heating oil prices averaged more than $2.94 per gallon, more than 5 cents per gallon below last week’s price and nearly 24 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged more than $1.73 per gallon, more than 10 cents per gallon below last week’s price and almost 30 cents per gallon lower than a year ago.




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