Gasoline price rises
The average retail gasoline price of regular gasoline increased six cents to US$ 3.44/gal. as of 24th February, 2014. This is 34 cents lower than the same time last year.
Prices increased in all areas of the US. The Midwest, Rocky Mountains and West Coast prices all rose eight cents, to US$ 3.44/gal., US$ 3.32/gal. and US$ 3.65/gal., respectively. Meanwhile, the East Coast price gained five cents to US$ 3.46/gal., and the Gulf Coast price rose three cents to US$ 3.21/gal.
Diesel fuel price increases
National average diesel fuel price was up three cents to US$ 4.02/gal., 14 cents lower than this time last year. Prices increased in all regions of the US, with the Rocky Mountains increasing the most, five cents up on last week at US$ 3.95/gal.
The West Coast price was US$ 4.04/gal., representing a four cent rise. Meanwhile, the Midwest price increased three cents to US$ 4.03/gal. The Gulf and East Coast prices both rose two cents to US$ 3.81/gal. and US$ 4.15/gal. respectively.
Propane inventories unchanged
US propane stocks as of 21st February were unchanged from the prior week at US$ 26.7 million bbls, 21.2 million bbls (44.3%) lower than a year ago. Inventories in the Gulf Coast and Rocky Mountain /West Coast regions both fell by 0.1 million bbls, while Midwest and East Coast regional iventories each rose by 0.1 million bbls.
Propylene non fuel use inventories represented 12.4% of total propane inventories.
Propane price falls
The average residential propane price decreased by approximately 16 cents per gallon last week to US$ 3.48/gal., US$ 1.16/gal. higher than the same period last year. Wholesale propane prices decreased less than 34 cents/gal. to US$ 1.84/gal. as of 24th February.
Meanwhile, residential heating oil prices increased almost 2 cents/gal. to US$ 4.24/gal. during the period ending 24th February. This is nearly 9 cents/gal. higher than last year’s price. Wholesale heating oil prices fell by less than 1 cent/gal. last week to US$ 3.39/gal.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/27022014/eia_this_week_in_petroleum_209/