According to the US Energy Information Administration (EIA), the US average retail price for gasoline fell four cents last week to US$ 3.59/gal. as of 21 July 2014. This is nine cents less than the same time last year.
All regions of the nation experienced price decreases of at least four cents except the Rocky Mountains, where the average price dropped less than half a cent to remain at US$ 3.64/gal. The West Coast, East Coast and Midwest prices each decreased by four cents, to US$ 3.96/gal., US$ 3.59/gal. and US$ 3.50/gal., respectively. Meanwhile, the Gulf Coast price decreased by five cents to US$ 3.39/gal.
The national average on highway diesel price fell three cents last week to US$ 3.87/gal., according to the EIA. This price is three cents less than the same time last year.
Prices fell in all regions, with the largest decreases in the East Coast, Midwest and West Coast regions, each down three cents to US$ 3.93/gal., US$ 3.81/gal., US$ 4.03/gal., respectively. The Gulf Coast and Rocky Mountains price decreased by five cents to US$ 3.39/gal., respectively.
US propane stocks increased by 2.2 million bbls last week to 65.5 million bbls as of 18 July 2014. This is 6 million bbls (10.2%) higher than the same time last year.
Midwest inventories rose 1.4 million bbls and Gulf Coast inventories increased by 0.4 million bbls. East Coast inventories increased by 0.3 million bbls and Rocky Mountains/West Coast inventories increased by 0.1 million bbls.
Propylene non-fuel use inventories represented 6.4% of total propane inventories.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24072014/gasoline-and-diesel-prices-997/