Fuel Report: Prices Jump a Dime, Break Year Ago Levels

Diesel, gas pump. ©Debra L Ferguson

The U.S. average diesel fuel price increased nearly 10 cents to $2.97 per gallon on February 22, 9 cents higher than a year ago. The West Coast and East Coast prices each increased more than 10 cents to $3.43 per gallon and $3.00 per gallon, respectively, the Gulf Coast price increased nearly 10 cents to $2.72 per gallon, the Midwest price increased more than 9 cents to $2.95 per gallon, and the Rocky Mountain price increased nearly 7 cents to $2.86 per gallon.

The U.S. average regular gasoline retail price increased more than 13 cents to $2.63 per gallon on February 22, 17 cents higher than the same time last year. The Midwest price increased more than 16 cents to $2.56 per gallon, the East Coast price increased more than 13 cents to $2.60 per gallon, the Gulf Coast price increased nearly 13 cents to $2.34 per gallon, the West Coast price increased nearly 11 cents to $3.15 per gallon, and the Rocky Mountain price increased nearly 5 cents $2.44 per gallon.

U.S. propane/propylene stocks decreased by 5.2 million barrels last week to 43.5 million barrels as of February 19, 2021, 8.8 million barrels (16.8%) less than the five-year (2016-2020) average inventory levels for this same time of year. Midwest, Gulf Coast, East Coast, and Rocky Mountain/West Coast inventories decreased by 2.0 million barrels, 1.8 million barrels, 1.2 million barrels, and 0.1 million barrels, respectively.

Residential propane prices averaged more than $2.50 per gallon, nearly 21 cents per gallon higher than last week’s price and almost 53 cents per gallon above last year’s price. Wholesale propane prices averaged more than $1.47 per gallon, nearly 31 cents per gallon above last week’s price and almost 88 cents per gallon above last year’s price.

As of February 22, 2021, residential heating oil prices averaged more than $2.81 per gallon, nearly 7 cents per gallon higher than last week’s price but almost 8 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices averaged nearly $1.96 per gallon, almost 5 cents per gallon above last week’s price and more than 17 cents per gallon above last year’s price.




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