Fuel Report: Prices Jump Higher, Propane Stocks Fall

    Photo: John Nuckolls, FarmPropane.com

    The U.S. average diesel fuel price increased nearly 3 cents to $2.70 per gallon on January 18, 34 cents lower than a year ago. The Gulf Coast price increased more than 3 cents to $2.46 per gallon, the East Coast and Midwest prices each increased nearly 3 cents to $2.75 per gallon and $2.63 per gallon, respectively, the West Coast price increased nearly 2 cents to $3.16 per gallon, and the Rocky Mountain price increased more than 1 cent to $2.60 per gallon.

    The U.S. average regular gasoline retail price increased more than 6 cents to $2.38 per gallon on January 18, 16 cents lower than the same time last year. The Gulf Coast price increased nearly 10 cents to $2.11 per gallon, the Midwest price increased more than 6 cents to $2.28 per gallon, the West Coast price increased 6 cents to $2.91 per gallon, the East Coast price increased more than 5 cents to $2.35 per gallon, and the Rocky Mountain price increased nearly 3 cents to $2.24 per gallon.

    U.S. propane/propylene stocks decreased by 6.2 million barrels last week to 59.8 million barrels as of January 15, 2021, 7.1 million barrels (10.6%) 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 decreased by 3.0 million barrels, 1.9 million barrels, 1.2 million barrels, and 0.1 million barrels, respectively.

    Residential propane prices averaged more than $2.18 per gallon, more than 10 cents per gallon higher than last week’s price and 18 cents per gallon above last year’s price. Wholesale propane prices averaged more than $1.17 per gallon, 16 cents per gallon higher than last week’s price and nearly 57 cents per gallon above last year’s price.

    As of January 18, 2021, residential heating oil prices averaged more than $2.56 per gallon, 6 cents per gallon higher than last week’s price but more than 51 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $1.71 per gallon, almost 2 cents per gallon above last week’s price but more than 25 cents per gallon below last year’s price.




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