Fuel Report: Prices Move Higher

    Diesel, gas pump. ©Debra L Ferguson

    The U.S. average diesel fuel price increased nearly 6 cents to $3.78 per gallon on January 24, $1.06 higher than a year ago. The Gulf Coast price increased nearly 7 cents to $3.53 per gallon, the East Coast price increased more than 6 cents to $3.78 per gallon, the Midwest price increased more than 5 cents to $3.66 per gallon, the West Coast price increased nearly 4 cents to $4.49 per gallon, and the Rocky Mountain price increased 2 cents to $3.70 per gallon.

    The U.S. average regular gasoline retail price increased nearly 2 cents to $3.32 per gallon on January 24, 93 cents higher than a year ago. The Gulf Coast price increased more than 5 cents to $3.01 per gallon, the Midwest price increased nearly 2 cents to $3.13 per gallon, and the East Coast price increased more than 1 cent to $3.25 per gallon. The West Coast price decreased nearly 1 cent, remaining virtually unchanged at $4.16 per gallon, and the Rocky Mountain price decreased less than 1 cent, remaining virtually unchanged at $3.33 per gallon.

    U.S. propane/propylene stocks decreased by 4.6 million barrels last week to 54.1 million barrels as of January 21, 2022, 5.5 million barrels (9.3%) less than the five-year (2017-2021) average inventory levels for this same time of year. Gulf Coast, Midwest, and East Coast inventories decreased by 2.6 million barrels, 1.5 million barrels, and 0.5 million barrels, respectively, and Rocky Mountain/West Coast inventories decreased slightly, remaining virtually unchanged.

    Residential propane prices averaged nearly $2.75 per gallon, more than 2 cents per gallon above last week’s price and more than 55 cents per gallon above last year’s price. Wholesale propane prices averaged almost $1.39 per gallon, nearly 4 cents per gallon above last week’s price and more than 37 cents per gallon above last year’s price.

    As of January 24, 2022, residential heating oil prices averaged nearly $3.67 per gallon, almost 7 cents per gallon above last week’s price and nearly $1.10 per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged more than $2.84 per gallon, almost 7 cents per gallon above last week’s price and more than $1.15 per gallon above last year’s price.




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