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Diesel, gasoline prices for fourth straight week

AgFax.Com - Your Online Ag News Source

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From the U.S. Energy Information Administration

March 17, 2010 –

The U.S. average price for diesel fuel went up for the fourth consecutive week. The increase of two cents moved the average to $2.92 per gallon, $0.91 above the year-ago price.

The East Coast, Midwest, and Gulf Coast prices rose by about two cents to settle at $2.95 per gallon, $2.90 per gallon, and $2.90 per gallon, respectively.

The Rocky Mountain region tallied the largest increase, over three cents, to settle at $2.92 per gallon.

The West Coast price was slightly higher at $3.01 per gallon and the California average moved up a penny to $3.07 per gallon.

For the fourth week in a row, the U.S. average price for regular gasoline also increased. The average moved up about four cents to $2.79 per gallon and was $0.88 above last year at this time.

The cumulative increase during the past four weeks amounts to 18 cents per gallon.

Prices rose in all regions of the country, with the increases ranging from two cents to nearly five cents per gallon. The averages on the East Coast, in the Midwest, and on the Gulf Coast increased about four cents to $2.78 per gallon, $2.74 per gallon, and $2.69 per gallon, respectively.

The price in the Rocky Mountains rose nearly five cents to $2.73 per gallon. The West Coast average grew by more than two cents to $3.01 per gallon while the California price increased a cent and a half to $3.06 per gallon.

Propane Stock Decline Levels Off: Total U.S. propane inventories experienced their smallest decline since October 2009, drawing 0.2 million barrels to bring stocks to 25.1 million barrels. The East Coast region was the only area of the country with a decline in inventory, drawing 0.3 million barrels. The Midwest, Gulf Coast, and Rocky Mountain/West Coast regions were all up slightly. Propylene non-fuel use inventories increased their share of total propane/propylene stocks from 8.5 percent to 8.7 percent.

The average residential propane price decreased 2.6 cents per gallon to reach 262.3 cents per gallon. This was an increase of 40.0 cents per gallon compared to the same period last year. Wholesale propane prices fell 7.2 cents per gallon to reach 123.7 cents per gallon. This was an increase of 50.8 cents per gallon when compared to the March 16, 2009 price of 72.9 cents per gallon.

These prices come from the last survey done for the 2009/10 winter heating season. Weekly retail prices for heating oil and propane will restart for the 2010/11 season beginning in October 2010.