The US average price of regular gasoline was US$ 2.78/gal. as of 1 December 2014, down four cents from the previous week and 49 cents lower than the same time last year.
The Rocky Mountains price decline seven cents to US$ 2.86/gal., and the Gulf Coast price was down six cents to US$ 2.53/gal. The Midwest price decreased five cents to US$ 2.71/gal. The East Coast and West Coast prices each declined three cents, to US$ 2.82/gal. and US$ 3.02/gal., respectively.
The US average diesel fuel price declined two cents from the prior week to US$ 3.61/gal., 28 cents less than the same time last year.
The Midwest price decline four cents to US$ 3.70/gal. The West Coast price decreased three cents to US$ 3.69/gal. The Gulf Coast, East Coast and Rocky Mountain prices decreased one cent, to US$ 3.50/gal., US$ 3.51/gal., and US$ 3.73/gal., respectively.
US propane stocks increased by 0.2 million bbls last week to 79.4 million bbls as of 28 November 2014, 25.1 million bbls (46.3%) higher than a year ago.
Midwest inventories increased by 0.2 million bbls and Gulf Coast inventories by 0.1 million bbls. East Coast inventories decreased by 0.1 million bbls while Rocky Mountain/West Coast inventories remained unchanged.
Propylene non-fuel use accounted for 3.8% of total propane inventories.
Residential propane averaged nearly US$ 2.41/gal., almost 1 cent/gal. higher than last week, and approximately 16 cents per gal. less than the same time last year. The average wholesale propane price increased by less than 1 cent this week and remained at 93 cents/gal., 47 cents/gal. lower than the 2 December 2013 price.
Residential heating oil
As of 1 December 2014, residential heating oil prices averaged nearly US$ 3.33/gal., almost 4 cents/gal. lower than last week, and 59 cents less than last year’s price for the same week. Wholesale heating oil prices averaged US$ 2.50/gal., almost 8 cents/gal. lower than last week and 65 cents lower when compared to the same time last year.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/05122014/us-gasoline-and-diesel-price-1746/