Fuel Report: Price Climb Continues

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price increased 3 cents to $2.67 per gallon on January 11, more than 39 cents lower than a year ago. The East Coast price increased more than 5 cents to $2.72 per gallon, the Gulf Coast price increased more than 3 cents to $2.43 per gallon, the West Coast price increased more than 2 cents to $3.14 per gallon, the Midwest price increased more than 1 cent to $2.61 per gallon, and the Rocky Mountain price increased less than 1 cent, remaining virtually unchanged at $2.59 per gallon.

The U.S. average regular gasoline retail price increased nearly 7 cents to $2.32 per gallon on January 11, more than 25 cents lower than the same time last year. The Gulf Coast price increased 9 cents to $2.02 per gallon, the East Coast price increased nearly 8 cents to $2.30 per gallon, the Midwest price increased more than 6 cents to $2.22 per gallon, the West Coast price increased more than 4 cents to $2.85 per gallon, and the Rocky Mountain price increased more than 2 cents to $2.21 per gallon.

U.S. propane/propylene stocks decreased by 6.7 million barrels last week to 66.0 million barrels as of January 8, 2021, 1.4 million barrels (2.1%) less than the five-year (2016-2020) average inventory levels for this same time of year. Gulf Coast, Midwest, East Coast, and Rocky Mountain/West Coast inventories declined by 4.3 million barrels, 1.7 million barrels, 0.6 million barrels, and 0.1 million barrels, respectively.

Residential propane prices averaged almost $2.09 per gallon, nearly 8 cents per gallon above last week’s price and almost 8 cents per gallon above last year’s price. Wholesale propane prices averaged more than $1.01 per gallon, nearly 12 cents per gallon higher than last week’s price and more than 37 cents per gallon above last year’s price.

As of January 11, 2021, residential heating oil prices averaged almost $2.51 per gallon, nearly 5 cents per gallon above last week’s price but more than 59 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged more than $1.69 per gallon, more than 9 cents per gallon above last week’s price but 34 cents per gallon lower than last year.




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