US average retail price of regular gasoline increased four cents to US$ 3.48/gal. as of 3rd March 2014, 28 cents lower than the same time last year.
Rocky Mountains price increased US$ 3.39, up seven cents on last week. Midwest and West Coast prices both gained six cents, to US$ 3.50/gal. and US$ 3.71/gal., respectively. The price on the Gulf Coast was US$ 3.23/gal., two cents up on last week, and the East Coast price was a cent higher at US$ 3.47/gal.
Meanwhile, national average diesel fuel price decreased less than a cent, remaining at US$ 4.02/gal. This is 11 cents lower than this time last year.
The Rocky Mountains price increased three cents to SU$ 3.98/gal. and the East Coast price increased one cent to US$ 4.16/gal. West Coast price gained less than a cent to remain US$ 4.04/gal. Prices on the Gulf Coast and in the Midwest decreased one cent to US$ 3.79/gal. and US$ 4.02/gal., respectively.
US propane stocks rose by 0.5 million bbls, ending at 27.2 million bbls last week. This is 18.5 million bbls (40.5%) lower than last year.
Gulf Coast inventories led the recent gain, rising by 0.6 million bbls. East Coast inventories also increased, by 0.3 million bbls.
Meanwhile, Midwest inventories decreased by 0.4 million bbls. Rocky Mountain/West Coast inventories remained the same.
Propylene non-fuel use inventories represented 12.6% of total propane inventories.
The average residential propane price decreased by almost 18 cents/gal. last week to US$ 3.30/gal., less than 99 cent/gal. higher than the same period last year. Wholesale propane prices decreased by 33 cents/gal. to almost US$ 1.51/gal. as of 3rd March 2014.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/07032014/gasoline_and_diesel_price_movements245/