Fuel Report: Prices Jump Higher

The U.S. average diesel fuel price increased more than 6 cents to $2.80 per gallon on February 8, 11 cents lower than a year ago. The Midwest price increased more than 7 cents to $2.75 per gallon, the Gulf Coast price increased nearly 7 cents to $2.57 per gallon, the West Coast and Rocky Mountain prices each increased nearly 6 cents to $3.26 per gallon and $2.70 per gallon, respectively, and the East Coast price increased more than 5 cents to $2.85 per gallon.

The U.S. average regular gasoline retail price increased more than 5 cents to $2.46 per gallon on February 8, 4 cents higher than the same time last year. The East Coast price increased 6 cents to $2.44 per gallon, the Gulf Coast price increased nearly 6 cents to $2.16 per gallon, the Midwest and Rocky Mountain prices each increased nearly 5 cents to $2.36 per gallon and $2.33 per gallon, respectively, and the West Coast price increased more than 4 cents to $3.00 per gallon.

U.S. propane/propylene stocks decreased by 4.5 million barrels last week to 51.5 million barrels as of February 5, 2021, 5.2 million barrels (9.2%) less than the five-year (2016-2020) average inventory levels for this same time of year. Gulf Coast, East Coast, Midwest, and Rocky Mountain/West Coast inventories decreased by 1.7 million barrels, 1.2 million barrels, 1.1 million barrels, and 0.5 million barrels, respectively.

Residential propane prices averaged nearly $2.23 per gallon, almost 2 cents per gallon higher than last week’s price and nearly 24 cents per gallon above last year’s price. Wholesale propane prices averaged more than $1.09 per gallon, more than 4 cents per gallon above last week’s price and almost 54 cents per gallon above last year’s price.

As of February 8, 2021, residential heating oil prices averaged nearly $2.67 per gallon, almost 7 cents per gallon higher than last week’s price but more than 24 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $1.84 per gallon, almost 12 cents per gallon above last week’s price and more than 9 cents per gallon above last year’s price.




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