Fuel Report: Prices Up Slightly, Propane Stocks Continue Decline

Photo: Blackhawk Propane

The U.S. average diesel fuel price increased nearly 1 cent, remaining virtually unchanged at $2.64 per gallon on January 4, almost 44 cents lower than a year ago. The East Coast and Gulf Coast prices increased nearly 1 cent to $2.67 per gallon and $2.40 per gallon, respectively, the Midwest price increased nearly 1 cent, remaining virtually unchanged at $2.59 per gallon, and the West Coast price increased less than 1 cent to $3.12 per gallon. The Rocky Mountain price decreased by less than 1 cent, remaining virtually unchanged at $2.59 per gallon.

The U.S. average regular gasoline retail price increased nearly 1 cent to $2.25 per gallon on January 4, almost 33 cents lower than the same time last year. The East Coast price increased more than 2 cents to $2.22 per gallon, and the West Coast price increased nearly 2 cents to $2.81 per gallon. The Midwest price decreased by nearly 2 cents to $2.15 per gallon, and the Rocky Mountain price decreased by less than 1 cent, remaining virtually unchanged at $2.19 per gallon. The Gulf Coast price remained unchanged at $1.93 per gallon.

U.S. propane/propylene stocks decreased by 2.4 million barrels last week to 72.8 million barrels as of January 1, 2021, 2.0 million barrels (2.7%) less than the five-year (2016-2020) average inventory levels for this same time of year. Gulf Coast, Midwest, Rocky Mountain/West Coast inventories decreased by 1.5 million barrels, 1.1 million barrels, and 0.4 million barrels, respectively. East Coast inventories increased by 0.6 million barrels.

Residential propane prices averaged almost $2.01 per gallon, nearly 4 cents per gallon above last week’s price and less than 1 cent per gallon above last year’s price. Wholesale propane prices averaged more than $0.89 per gallon, almost 6 cents per gallon higher than last week’s price and more than 23 cents per gallon above last year’s price.

As of January 4, 2021, residential heating oil prices averaged $2.46 per gallon, more than 2 cents per gallon above last week’s price but nearly 66 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged $1.60 per gallon, almost 1 cent per gallon below last week’s price and nearly 57 cents per gallon lower than last year.




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