Fuel Report: Diesel, Gas Prices Fall

Photo: ©Debra L Ferguson

The U.S. average diesel fuel price fell more than 3 cents from the previous week to $2.85 per gallon on March 2, 23 cents lower than a year ago. The West Coast price fell nearly 4 cents to $3.42 per gallon, the East Coast and Midwest prices each fell more than 3 cents to $2.90 per gallon and $2.73 per gallon, respectively, the Gulf Coast price fell nearly 3 cents to $2.63 per gallon, and the Rocky Mountain price fell more than 2 cents to $2.83 per gallon.

The U.S. average regular gasoline retail price fell more than 4 cents from the previous week to $2.42 per gallon on March 2, less than one cent higher than a year ago. The Midwest price declined nearly 6 cents to $2.30 per gallon, the East Coast price declined nearly 5 cents to $2.35 per gallon, the Gulf Coast price fell nearly 4 cents to $2.11 per gallon, the Rocky Mountain price declined more than 2 cents to $2.42 per gallon, and the West Coast price fell nearly 1 cent to $3.13 per gallon.

U.S. propane/propylene stocks decreased by 3.6 million barrels last week to 70.0 million barrels as of February 28, 2020, 18.8 million barrels (36.7%) greater than the five-year (2015-19) average inventory levels for this same time of year. Gulf Coast inventories decreased by 1.6 million barrels, Midwest inventories decreased by 1.5 million barrels, and East Coast and Rocky Mountain/West Coast inventories each decreased by 0.3 million barrels. Propylene non-fuel-use inventories represented 7.7% of total propane/propylene inventories.

Residential propane prices averaged nearly $1.97 per gallon, more 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 $0.57 per gallon, more than 3 cents per gallon lower than last week’s price and almost 26 cents per gallon below last year’s price.

As of March 2, 2020, residential heating oil prices averaged more than $2.82 per gallon, nearly 7 cents per gallon below last week’s price and almost 41 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $1.61 per gallon, more than 18 cents per gallon below last week’s price and almost 53 cents per gallon lower than a year ago.




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