The US average retail price of regular gasoline decreased 5 cents this week to US$ 3.54/gal. as of 28 July 2014, 11 cents/gal. lower than the same time last year. The national average price has fallen for four consecutive weeks, and is now the lowest since early March.
Prices declined in all areas of the country except for the Rocky Mountains, where the average increased by half a cent to US$ 3.65/gal. The Midwest price showed the greatest decline, falling nine cents to US$ 3.41/gal. The East Coast and Gulf Coast prices each decline five cents to US$ 3.54/gal. and US$ 3.35/gal., respectively. The West Coast price decreased four cents to US$ 3.92/gal.
The national average diesel fuel price decreased one cent this week to US$ 3.86/gal., six cents less than the same time last year, and the lowest since November 2013.
The national average price fell in all regions, with the East Coast experiencing the largest decline. East Coast price dropped two cents to US$ 3.91/gal. The Midwest, Gulf Coast and West Coast regions each fell one cent, to US$ 3.80/gal, US$ 3.77/gal. and US$ 4.02/gal, respectively. The Rocky Mountain price decreased less than a cent to remain at US$ 3.89/gal. for a second week.
US propane stocks increased by 1.8 million bbls last week to 67.2 million bbls as of 25 July 2014, 5.9 million bbls (9.6%) higher than a year ago.
Midwest inventories increased by 0.8 million bbls, while Gulf Coast and East Coast inventories each increased by 0.4 million bbls. Rocky Mountains/West Coast inventories increased by 0.1 million bbls.
Propylene non-fuel use inventories represented 6.1% of total propane inventories.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/31072014/gasoline-and-diesel-price-analysis-1045/