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Diesel, gasoline prices up yet another week, 86 cents above year-ago price

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From the U.S. Energy Information Administration

March 10, 2010 – For the third week in a row, the U.S. average price for diesel fuel increased. At $2.90 per gallon, the price went up by four cents to settle $0.86 above the price a year ago.

  • On the East Coast, the average moved up three cents to $2.93 per gallon.

  • In the Midwest and on the Gulf Coast and the West Coast, the averages each rose about five cents to $2.87 per gallon, $2.87 per gallon, and $3.00 per gallon, respectively.

  • The California price moved up over three cents to $3.06 per gallon. In the Rocky Mountains, the average increased about four cents to $2.89 per gallon.

The U.S. average price for regular gasoline increased for the third consecutive week, moving up a nickel to $2.75 per gallon. The price was $0.81 above the average last year at this time.

  • Prices rose in all regions of the country with the East Coast climbing four cents to $2.74 per gallon.

  • Averages on the Gulf Coast, in the Rocky Mountains, and on the West Coast each increased about five cents to $2.65 per gallon, $2.69 per gallon, and $2.98 per gallon, respectively.

  • The California price increased a nickel to $3.05 per gallon. The average in the Midwest increased the most, jumping nearly six cents to $2.70 per gallon.

After a modest drop the previous week, total U.S. inventories of propane dropped 1.5 million barrels to 25.3 last week, which is well below the 5-year average range. Midwest stocks fell 1.3 million barrels, while the Gulf Coast stocks were down 0.4 million barrels. East Coast propane stocks increased by 0.2 million barrels and the Rocky Mountain/West Coast region also grew slightly. Propylene non-fuel use inventories decreased their share of total propane/propylene stocks from 9.4 percent to 8.5 percent.

The average residential propane price dropped 2.5 cents per gallon to reach 265.0 cents per gallon. This was an increase of 40.4 cents per gallon compared to the same period last year. Wholesale propane prices dropped 3.8 cents per gallon to reach 130.9 cents per gallon. This was an increase of 58.5 cents per gallon when compared to the March 9, 2009 price of 72.4 cents per gallon.