Fuel Report: Price Climb Continues

    The U.S. average diesel fuel price increased nearly 7 cents to $4.02 per gallon on February 14, $1.14 higher than a year ago. The East Coast price increased more than 9 cents to $4.06 per gallon, the Midwest price increased nearly 8 cents to $3.88 per gallon, the Gulf Coast price increased nearly 6 cents to $3.79 per gallon, the Rocky Mountain price increased 5 cents to $3.91 per gallon, and the West Coast price increased nearly 3 cents to $4.65 per gallon.

    The U.S. average regular gasoline retail price increased more than 4 cents to $3.49 per gallon on February 14, 99 cents higher than a year ago. The Gulf Coast and East Coast prices each increased more than 6 cents to $3.19 per gallon and $3.45 per gallon, respectively, the Midwest price increased more than 3 cents to $3.32 per gallon, and the West Coast price increased more than 1 cent to $4.19 per gallon. The Rocky Mountain price decreased less than 1 cent, remaining virtually unchanged at $3.33 per gallon.

    U.S. propane/propylene stocks decreased by 5.9 million barrels last week to 41.9 million barrels as of February 11, 2022, 8.6 million barrels (17.0%) 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 2.5 million barrels, 1.9 million barrels, and 1.6 million barrels, respectively, and Rocky Mountain/West Coast inventories decreased slightly, remaining virtually unchanged.

    Residential propane prices averaged nearly $2.84 per gallon, more than 1 cent per gallon above last week’s price and more than 54 cents per gallon above last year’s price. Wholesale propane prices averaged more than $1.48 per gallon, 7 cents per gallon below last week’s price but almost 32 cents per gallon above last year’s price.

    As of February 14, 2022, residential heating oil prices averaged $3.96 per gallon, nearly 7 cents per gallon above last week’s price and almost $1.22 per gallon higher than last year’s price at this time. Wholesale heating oil prices averaged more than $3.14 per gallon, more than 3 cents per gallon above last week’s price and more than $1.23 per gallon above last year’s price.




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