Fuel Report: Prices Climb Continues, Propane Stocks Drop Below 5-Year Average

    Photo: John Nuckolls, FarmPropane.com

    The U.S. average diesel fuel price increased nearly 2 cents to $2.64 per gallon on December 28, 43 cents lower than a year ago. The Midwest price increased nearly 3 cents to $2.59 per gallon, the West Coast price increased nearly 2 cents to $3.11 per gallon, the Gulf Coast increased more than 1 cent to $2.39 per gallon, and the East Coast and Rocky Mountain prices each increased nearly 1 cent to $2.66 per gallon and $2.59 per gallon, respectively.

    The U.S. average regular gasoline retail price increased nearly 2 cents to $2.24 per gallon on December 28, almost 33 cents lower than the same time last year. The Midwest price increased more than 5 cents to $2.17 per gallon, the West Coast price increased nearly 2 cents to $2.79 per gallon, the East Coast price increased nearly 1 cent to $2.20 per gallon, and the Rocky Mountain price increased less than 1 cent, remaining virtually unchanged at $2.19 per gallon. The Gulf Coast price decreased less than 1 cent, remaining virtually unchanged at $1.93 per gallon.

    U.S. propane/propylene stocks decreased by 6.5 million barrels last week to 75.1 million barrels as of December 25, 2020, 2.3 million barrels (3.0%) less than the five-year (2015-19) average inventory levels for this same time of year. Gulf Coast, Midwest, East Coast, and Rocky Mountain/West Coast inventories declined by 3.5 million barrels, 1.6 million barrels, 1.0 million barrels, and 0.3 million barrels, respectively.

    Residential propane prices averaged more than $1.97 per gallon, 3 cents per gallon above last week’s price but nearly 4 cents per gallon below last year’s price. Wholesale propane prices averaged almost $0.84 per gallon, less than 1 cent per gallon lower last week’s price but nearly 13 cents per gallon above last year’s price.

    As of December 28, 2020, residential heating oil prices averaged more than $2.44 per gallon, nearly 2 cents per gallon above last week’s price but almost 64 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $1.61 per gallon, almost 2 cents per gallon below last week’s price and more than 55 cents per gallon lower than last year.




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