The US average retail price of gasoline has decreased two cents to US$ 3.59/gal, as of 9th September. This is 26 cents lower than last year at this time.
Prices were up five cents on the West Coast to US$ 3.8/gal. Rocky Mountains price added half a cent but remained US$ 3.63/gal.
The largest decrease came in the Midwest, where prices fell six cents to US$ 3.57/gal. On the Gulf Coast, the price was US$ 3.38/gal, three cents lower than last week. The East Coast price decreased two cents to US$ 3.59/gal.
The US national average diesel fuel price was unchanged from last week at US$ 3.98/gal. This is 15 cents lower than last year at this time.
The East Coast price decreased half a cent, but remained US$3.99/gal. Midwest and Rocky Mountains prices both lost less than a penny, becoming US$ 3.96/gal. and US$3.93/gal, respectively.
The West Coast price increased one cent, to US$ 4.14/gal. The Gulf Coast price increased a tenth of a cent, remaining US$ 3.90/gal.
Propane stocks decline slightly
Total US inventories of propane decreased by 0.1 million bbls last week, ending at 64.5 million bbls, approximately 8.2 million bbls (11.3%) lower than the same week last year. Midwest stocks experienced an unseasonal decline of 0.3 million bbls last week. Rocky Mountains/West Coast inventories gained 0.1 million bbls, while the East Coast and Gulf Coast regions were up slightly.
Propylene non-fuel use inventories represented 4.6% of total propane inventories.
To read more from the EIA’s ‘This Week in Petroleum’, released on 11th September, see also ‘Correlation in oil and equity price movements declines’.
Adapted from a press release by Emma McAleavey.