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US gasoline and diesel prices continue to fall

Hydrocarbon Engineering,

According to the US Energy Information Administration’s (EIA) ‘This Week in Petroleum’ report, the US average retail price of gasoline decreased three cents to US$ 3.24/gal as of 16th December 2013. The national average diesel fuel price decreased one cent to US$ 3.87/gal, seven cents lower than this time last year.

Gasoline prices decreased in all regions across the nation. The largest decrease occurred on the Gulf Coast, where the price was down six cents to US$ 3.05/gal. The Midwest price dropped five cents to US$ 3.08/gal, and the Rocky Mountain price was US$ 3.06/gal, two cents less than last week. The East and West Coast prices both fell by a cent, to US$ 3.37/gal and US$ 3.47/gal, respectively.

Diesel prices increased less than one cent on the East Coast and in the Rocky Mountains, to US$3.92/gal and US$ 3.85/gal respectively, while decreasing in the rest of the nation. The Midwest price declined two cents to US$ 3.85/gal. The Gulf and West Coast prices were US$ 3.77/gal and US$ 3.98/gal, respectively, both down by one cent.

Propane inventories fall

US propane stocks fell by 2.7 million bbls, ending at 50 million bbls last week, 27.8% (19.3 million bbls) lower than a year ago. Gulf Coast inventories dropped by 1.2 million bbls. Meanwhile, Midwest inventories decreased by 1.0 million bbls and East Coast inventories dropped by 0.3 million bbls. Rocky Mountain/West Coast inventories dropped by 0.2 million bbls.

Propylene non-fuel-use inventories represented 6.5% of total propane inventories.

Adapted from a press release by Emma McAleavey.

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