US gasoline and diesel price movements: Week ending 29 December 2014

According to the US Energy Information Administration (EIA), the US average price for regular gasoline as of 29 December 2014 was US$ 2.30/gal., down 10 cents from the week prior and US$ 1.03/gal. lower than the same time last year.

The Rocky Mountain price declined 16 cents to US$ 2.23/gal., followed by the Midwest price, which fell 14 cents to US$ 2.09/gal. The Gulf Coast price decreased 10 cents to US$ 2/07/gal., while the East Coast price was down nine cents to US$ 2.44/gal. The West Coast price decreased eight cents to US$ 2.62/gal.

The US average price for diesel fuel fell seven cents from the week prior to US$ 3.21/gal., 69 cents less than the same time last year.

The Rocky Mountain price decreased 10 cents to US$3.24/gal., while the Midwest price declined nine cents to US$ 3.21/gal. The West Coast price fell six cents to US$ 3.27/gal. The East Coast and Gulf Coast prices each fell five cents, to US$ 3.26/gal. and US$ 3.12/gal., respectively.

Propane inventories

US propane stocks decreased by 0.6 million bbls last week to 77.2 million bbls as of 26 December 2014, 31.3 million bbls (68.3%) higher than a year ago. Gulf Coast inventories decreased by 1.1 million bbls and Rocky Mountain/West Coast inventories decreased by 0.1 million bbls. Midwest inventories increased by 0.5 million bbls while East Coast inventories remained unchanged.

Propylene non-fuel use inventories represented 4.6% of total propane.

Residential fuel prices

As of 29 December 2014 residential heating oil prices averaged US$ 3/04/gal., less than 4 cents/gal. lower than last week, and 99 cents less than last year’s price for the same week. Wholesale heating oil prices averaged US$ 2.00/gal., more than 7 cents/gal. lower than last week and nearly US$ 1.23/gal. lower when compared to the same time last year.

Residential propane prices averaged almost US$ 2.37/gal., 1 cent/gal. lower than last week, and over 43 cents/gal. less than the price at the same time last year. The average wholesale propane price decreased by almost 5 cents/gal. this week to 63 cents/gal., US$ 1.07/gal. lower than the 30 December 2013 price.

Adapted from a press release by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/02012015/gasoline-and-diesel-price-movements-001/