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Diesel, gas prices fall somewhat over last week, propane inventories still declining

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From the U.S. Energy Information Administration

January 21, 2009 - Slight Downturn for U.S. Average Gasoline and Diesel Prices: The U.S. average price for regular gasoline dropped a penny to $2.74 per gallon, $0.89 higher than the average a year ago. On a regional basis, price changes were mixed. The East Coast price of $2.75 per gallon moved up less than a penny, while the price in the Rocky Mountains jumped up four cents to $2.62 per gallon. The price on the Gulf Coast was essentially unchanged at $2.62 per gallon. Prices in the Midwest and on the West Coast dropped, moving down over a penny on the West Coast to $2.95 per gallon and dropping nearly five cents to $2.68 per gallon in the Midwest. The average in California also fell, slipping two cents to $3.03 per gallon.

Diesel prices also slipped somewhat. The national average fell a penny to $2.87 per gallon, $0.57 above the price last year. The average on the East Coast was essentially unchanged at $2.92 per gallon. In the Midwest, the average dipped a penny to $2.83 per gallon. On the Gulf Coast and on the West Coast, the averages dropped about two cents to $2.83 and $2.95 per gallon, respectively. In the Rocky Mountains, the price climbed more than a penny to settle at $2.83. The average in California dipped two cents to $3.01 per gallon.

Propane Stocks Continue to Sink. U.S. inventories of propane posted their largest drop of the current heating season with a 4.8 million barrel stock draw, leaving inventories at an estimated 41.1 million barrels. The Gulf Coast region led the decline with a 2.0 million barrel stock draw. The Midwest region was close behind with a 1.9 million barrel decline. The East Coast regional stocks drew 0.9 million barrels and the Rocky Mountain/West Coast region decreased slightly. Propylene non-fuel use inventories increased their share of total propane/propylene stocks from 7.6 percent to 8.3 percent.

The average residential propane price rose 1.2 cents per gallon to reach 267.2 cents per gallon. This was an increase of 36.0 cents per gallon compared to the same period last year. Wholesale propane prices dropped 21.7 cents per gallon to reach 134.8 cents per gallon. This was an increase of 44.3 cents per gallon when compared to the January 19, 2009 price of 90.5 cents per gallon.

Weekly Retail On-Highway Diesel Prices - Average All Types 
(Dollars per gallon, including all taxes)
Region
01/04/10
01/11/10
01/18/10
Change from
week ago
Change from
year ago
U.S. 2.797 2.879 2.870 -0.009 0.574
    East Coast 2.827 2.922 2.923 0.001 0.546
       New England 2.935 3.068 3.065 -0.003 0.452
       Central Atlantic 2.932 3.026 3.023 -0.003 0.509
       Lower Atlantic 2.772 2.864 2.867 0.003 0.570
    Midwest 2.771 2.844 2.834 -0.010 0.570
    Gulf Coast 2.750 2.846 2.831 -0.015 0.604
    Rocky Mountain 2.746 2.814 2.827 0.013 0.578
    West Coast 2.908 2.971 2.947 -0.024 0.609

    California 2.959 3.032 3.008 -0.024 0.689