Fuel Report: Diesel Prices Rocket Higher

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price increased nearly 8 cents to $2.88 per gallon on February 15, 1 cent lower than a year ago. The Midwest price increased more than 10 cents to $2.85 per gallon, the Rocky Mountain price increased nearly 9 cents to $2.79 per gallon, the West Coast price increased 7 cents to $3.33 per gallon, the Gulf Coast price increased more than 6 cents to $2.63 per gallon, and the East Coast price increased more than 5 cents to $2.90 per gallon.

The U.S. average regular gasoline retail price increased 4 cents to $2.50 per gallon on February 15, 7 cents higher than the same time last year. The Rocky Mountain price increased more than 6 cents to $2.39 per gallon, the Gulf Coast price increased more than 5 cents to $2.22 per gallon, the West Coast price increased more than 4 cents to $3.04 per gallon, the Midwest price increased nearly 4 cents to $2.40 per gallon, and the East Coast price increased more than 3 cents to $2.47 per gallon.

U.S. propane/propylene stocks decreased by 2.9 million barrels last week to 48.6 million barrels as of February 12, 2021, 4.8 million barrels (9.0%) less than the five-year (2016-2020) average inventory levels for this same time of year. Midwest, East Coast, Gulf Coast, and Rocky Mountain/West Coast inventories decreased by 1.6 million barrels, 0.8 million barrels, 0.4 million barrels, and 0.1 million barrels, respectively.

Residential propane prices averaged nearly $2.29 per gallon, more than 6 cents per gallon higher than last week’s price and almost 31 cents per gallon above last year’s price. Wholesale propane prices averaged nearly $1.17 per gallon, almost 8 cents per gallon above last week’s price and more than 60 cents per gallon above last year’s price.

As of February 15, 2021, residential heating oil prices averaged more than $2.75 per gallon, almost 9 cents per gallon higher than last week’s price but nearly 15 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged more than $1.91 per gallon, almost 8 cents per gallon above last week’s price and more than 11 cents per gallon above last year’s price.




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