Fuel Report: Propane Stocks 15% Below 5-Year Average

    Photo: John Nuckolls, FarmPropane.com

    The U.S. average diesel fuel price increased more than 7 cents to $3.14 per gallon on March 3, 33 cents higher than a year ago. The Rocky Mountain price increased nearly 15 cents to $3.13 per gallon, the Gulf Coast price increased more than 9 cents to $2.93 per gallon, the Midwest price increased nearly 9 cents to $3.13 per gallon, the West Coast price increased more than 5 cents to $3.59 per gallon, and the East Coast price increased more than 3 cents to $3.12 per gallon.

    The U.S. average regular gasoline retail price increased 6 cents to $2.77 per gallon on March 8, 40 cents higher than the same time last year. The Rocky Mountain price increased more than 14 cents to $2.71 per gallon, the Gulf Coast price increased more than 8 cents to $2.50 per gallon, the West Coast price increased nearly 7 cents to $3.34 per gallon, the East Coast price increased more than 5 cents to $2.70 per gallon, and the Midwest price increased more than 4 cents to $2.71 per gallon.

    U.S. propane/propylene stocks decreased by 47,000 barrels last week to 41.2 million barrels as of March 5, 2021, 7.3 million barrels (15.0%) less than the five-year (2016-2020) average inventory levels for this same time of year. Rocky Mountain/West Coast and Gulf Coast inventories decreased by 0.2 million barrels and 0.1 million barrels, respectively. Midwest and East Coast inventories increased by 0.2 million barrels and 0.1 million barrels, respectively.

    Residential propane prices averaged nearly $2.42 per gallon, more than 8 cents per gallon lower than last week’s price but almost 46 cents per gallon above last year’s price. Wholesale propane prices averaged more than $1.16 per gallon, nearly 12 cents per gallon below last week’s price but more than 63 cents per gallon above last year’s price.

    As of March 8, 2021, residential heating oil prices averaged nearly $2.89 per gallon, almost 4 cents per gallon higher than last week’s price and nearly 14 cents per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged almost $2.08 per gallon, more than 9 cents per gallon above last week’s price and more than 61 cents per gallon above last year’s price.




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