The US average price for retail gasoline rose last week for the first time since September, increasing two cents to US$2.07/gal. as of 2 February 2015, US$1.22/gal. less than the same time last year. Only Midwest and Gulf Coast prices increased, by nine cents and one cent, respectively, to US$2.03/gal. and US$1.86/gal. The East Coast price was down two cents to US$2.09/gal., while the Rocky Mountain price fell one cent to US$1.87/gal. The West Coast price lost less than a penny to remain at US$2.33/gal.
The US average price for diesel fuel decreased four cents to US$2.83/gal., down US$1.12/gal. from the same time last year. The West Coast price fell six cents to US$2.89/gal. Midwest and East Coast prices both decreased four cents, to US$2.77/gal. and US$2.93/gal., respectively. The Rocky Mountain price was down three cents to US$2.78/gal., while the Gulf Coast price decreased two cents to US$2.77/gal.
US propane stocks decreased by 2.1 million bbls last week to 67.2 million bbls as of 30 January 2015, 36.4 million bbls (118.0%) higher than a year ago. Midwest inventories decreased by 1.1 million bbls and East Coast inventories decreased by 0.5 million bbls. Gulf Coast inventories decreased by 0.4 million bbls and Rocky Mountains/West Coast inventories decreased by 0.1 million bbls.
Propylene non-fuel use inventories represented 6.1% of total propane inventories.
Residential heating fuel prices
As of 2 February 2015, residential heating oil prices averaged less than US$2.80/gal., almost 2 cents/gal. lower than last week, and US$1.44/gal. less than last year’s price for the same week. Wholesale heating oil prices averaged US$1.83/gal., 7 cents/gal. higher than last week and US$1.61/gal. lower when compared to the same time last year.
Residential propane prices averaged less than US$2.37/gal., approximately 1 cent/gal. lower than last week, and US$1.52/gal. less than the price at the same time last year. The average wholesale propane price decreased by nearly 2 cents/gal. this week to 61 cents/gal., US$2.09/gal. lower than the 3 February 2014 price.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/05022015/gasoline-and-diesel-prices-189/