Fuel Report: Price Climb Continues, Propane Stocks Lower

The U.S. average diesel fuel price increased nearly 10 cents to $3.07 per gallon on March 1, 22 cents higher than a year ago. The Rocky Mountain price increased nearly 13 cents to $2.98 per gallon, the Gulf Coast price increased nearly 12 cents to $2.84 per gallon, the West Coast price increased nearly 11 cents to $3.54 per gallon, the Midwest price increased nearly 10 cents to $3.04 per gallon, and the East Coast price increased more than 8 cents to $3.08 per gallon.

The U.S. average regular gasoline retail price increased nearly 8 cents to $2.71 per gallon on March 1, 29 cents higher than the same time last year. The Rocky Mountain and West Coast prices each increased nearly 13 cents to $2.57 per gallon and $3.28 per gallon, respectively, the Midwest price increased 10 cents to $2.66 per gallon, the Gulf Coast price increased 7 cents to $2.41 per gallon, and the East Coast price increased nearly 5 cents to $2.65 per gallon.

U.S. propane/propylene stocks decreased by 2.2 million barrels last week to 41.2 million barrels as of February 26, 2021, 8.7 million barrels (17.4%) less than the five-year (2016-2020) average inventory levels for this same time of year. Gulf Coast, Midwest, Rocky Mountain/West Coast, and East Coast inventories declined by 1.0 million barrels, 0.8 million barrels, 0.4 million barrels, and 0.1 million barrels, respectively.

As of March 1, 2021, residential heating oil prices averaged nearly $2.86 per gallon, 5 cents per gallon higher than last week’s price and almost 4 cents per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged more than $1.98 per gallon, nearly 3 cents per gallon above last week’s price and almost 38 cents per gallon above last year’s price.

Residential propane prices averaged nearly $2.51 per gallon, more than 1 cent per gallon higher than last week’s price and almost 54 cents per gallon above last year’s price. Wholesale propane prices averaged nearly $1.28 per gallon, almost 20 cents per gallon below last week’s price but nearly 71 cents per gallon above last year’s price.




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