Fuel Report: Diesel, Gas Prices Drop

The U.S. average diesel fuel price fell nearly 5 cents from the previous week to $2.91 per gallon on February 10, 6 cents lower than a year ago. The Midwest price fell more than 6 cents to $2.78 per gallon, the Rocky Mountain price fell nearly 5 cents to $2.90 per gallon, the East Coast price fell more than 4 cents to $2.96 per gallon, and the Gulf Coast and West Coast prices each fell nearly 4 cents to $2.68 per gallon and $3.48 per gallon, respectively.

The U.S. average regular gasoline retail price decreased nearly 4 cents from the previous week to $2.42 per gallon on February 10, 14 cents higher than the same time last year. The Midwest price fell more than 5 cents to $2.26 per gallon, the Gulf Coast price fell nearly 5 cents to $2.09 per gallon, the East Coast price fell more than 2 cents to $2.37 per gallon, the Rocky Mountain price fell nearly 2 cents to $2.51 per gallon, and the West Coast price decreased 1 cent to $3.15 per gallon.

U.S. propane/propylene stocks decreased by 6.2 million barrels last week to 77.3 million barrels as of February 7, 2020, 17.9 million barrels (30.2%) greater than the five-year (2015-19) average inventory levels for this same time of year. Gulf Coast, East Coast, Midwest, and Rocky Mountain/West Coast inventories decreased by 4.3 million barrels, 0.9 million barrels, 0.8 million barrels, and 0.1 million barrels, respectively. Propylene non-fuel-use inventories represented 7.1% of total propane/propylene inventories.

Residential propane prices averaged almost $1.99 per gallon, less than 1 cent per gallon below last week’s price and nearly 45 cents per gallon less than a year ago. Wholesale propane prices averaged more than $0.55 per gallon, more than 3 cents per gallon lower than last week’s price and more than 22 cents per gallon below last year’s price.

As of February 10, 2020, residential heating oil prices averaged more than $2.91 per gallon, more than 2 cents per gallon below last week’s price and nearly 27 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged almost $1.75 per gallon, more than 1 cent per gallon above last week’s price but more than 28 cents per gallon lower than a year ago.




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