The U.S. average diesel fuel price fell nearly 1 cent from the previous week to $2.88 per gallon on February 24, 17 cents lower than a year ago. The West Coast, East Coast, and Rocky Mountain prices each fell nearly 1 cent to $3.46 per gallon, $2.93 per gallon, and $2.85 per gallon, a respectively, and the Gulf Coast and Midwest prices each declined less than 1 cent to $2.65 per gallon and $2.76 per gallon, respectively.
The U.S. average regular gasoline retail price increased nearly 4 cents from the previous week to $2.47 per gallon on February 24, 8 cents higher than the same time last year. The Gulf Coast price rose nearly 7 cents to $2.15 per gallon, the Midwest price increased nearly 5 cents to $2.36 per gallon, the East Coast price rose nearly 4 cents to $2.40 per gallon, and the West Coast price rose less than 1 cent, remaining at $3.14 per gallon. The Rocky Mountain price fell more than 3 cents to $2.44 per gallon.
U.S. propane/propylene stocks decreased by 0.7 million barrels last week to 73.6 million barrels as of February 21, 2020, 19.3 million barrels (35.5%) greater than the five-year (2015-19) average inventory levels for this same time of year. Midwest inventories decreased by 1.0 million barrels. East Coast inventories increased by 0.2 million barrels, and Gulf Coast and Rocky Mountain/West inventories each increased by 0.1 million barrels. Propylene non-fuel-use inventories represented 7.4% of total propane/propylene inventories.
Residential propane prices averaged almost $1.98 per gallon, less than 1 cent per gallon below last week’s price and more than 45 cents per gallon below last year’s price. Wholesale propane prices averaged nearly $0.60 per gallon, almost 4 cents per gallon higher than last week’s price but almost 28 cents per gallon below last year’s price.
As of February 24, 2020, residential heating oil prices averaged almost $2.90 per gallon, less than 1 cent per gallon below last week’s price and more than 33 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $1.79 per gallon, more than 1 cent per gallon below last week’s price and more than 36 cents per gallon lower than a year ago.