Fuel Report: Diesel Prices Jump Higher

    Diesel, gas pump. ©Debra L Ferguson

    The U.S. average diesel fuel price increased nearly 7 cents to $3.73 per gallon on January 17, $1.03 higher than a year ago. The Midwest price increased more than 8 cents to $3.60 per gallon, the Gulf Coast price increased nearly 8 cents to $3.46 per gallon, the East Coast price increased more than 7 cents to $3.72 per gallon, the West Coast price increased more than 3 cents to $4.45 per gallon, and the Rocky Mountain price increased more than 1 cent to $3.68 per gallon.

    The U.S. average regular gasoline retail price increased more than 1 cent to $3.31 per gallon on January 17, 93 cents higher than a year ago. The Gulf Coast price increased nearly 4 cents to $2.96 per gallon, the East Coast price increased more than 1 cent to $3.24 per gallon, and the West Coast price increased less than 1 cent, remaining virtually unchanged at $4.16 per gallon. The Rocky Mountain price decreased nearly 2 cents to $3.33 per gallon, and the Midwest price decreased less than 1 cent, remaining virtually unchanged at $3.11 per gallon.

    U.S. propane/propylene stocks decreased by 3.7 million barrels last week to 58.7 million barrels as of January 14, 2022, 4.1 million barrels (6.5%) less than the five-year (2017-2021) average inventory levels for this same time of year. Gulf Coast, Midwest, East Coast, and Rocky Mountain/West Coast inventories decreased by 1.7 million barrels, 1.4 million barrels, 0.4 million barrels, and 0.2 million barrels, respectively.

    Residential propane prices averaged nearly $2.73 per gallon, more than 2 cents per gallon above last week’s price and more than 54 cents per gallon above last year’s price. Wholesale propane prices averaged almost $1.35 per gallon, nearly 6 cents per gallon above last week’s price and almost 18 cents per gallon above last year’s price.

    As of January 17, 2022, residential heating oil prices averaged almost $3.61 per gallon, nearly 15 cents per gallon above last week’s price and $1.05 per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged almost $2.78 per gallon, 15 cents per gallon above last week’s price and more than $1.07 per gallo¬¬n above last year’s price.




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