The US average price for regular gasoline fell eight cents from the previous week to US$2.14/gal. as of 12 January 2014, US$1.19/gal. lower than the same time last year.
The Rocky Mountain price declined 13 cents to US$1.99/gal., becoming the third region to have an average price below US$2/gal. The East Coast price declined 10 cents to US$2.25/gal., while the West Coast price fell nine cents to US$2.49/gal. The Gulf Coast price was down eight cents to US$1.91/gal., and the Midwest price shed two cents to US$1.95/gal.
The US average price for diesel fuel declined eight cents to US$3.05/gal., 83 cents less than a year ago.
The Gulf Coast price fell eight cents to be the first region with an average price below US$3/gal. since 2010, at US$2.96/gal. The Rocky Mountain price decreased 11 cents to US$3.03/gal. The Midwest and West Coast prices fell nine cents, to US$3.01/gal. and US$3.13/gal., respectively. The East Coast price declined seven cents to US$3.13/gal.
US propane stocks decreased by 0.8 million bbls last week to 74.9 million bbls as of 9 January 2015, 36.2 million bbls (93.6%) higher than a year ago. Midwest inventories decreased by 1.0 million bbls and East Coast inventories decreased by 0.4 million bbls. Rocky Mountain/West Coast inventories decreased by 0.2 million bbls while Gulf Coast inventories increased by 0.8 million bbls.
Propylene non-fuel use inventories represented 5.2% of total propane inventories.
Residential fuel prices decrease
As of 12 January 2015, residential heating oil prices averaged less than US$2.91/gal., 6 cents /gal. lower than last week, and US$1.10/gal. less than last year’s price for the same week. Wholesale heating oil prices averaged US$1.79/gal., 12 cents/gal. lower than last week and US$1.30/gal. lower when compared to the same time last year.
Residential propane prices averaged less than US$2.35/gal., 1 cent/gal. lower than last week, and 51 cents/gal. less than the price at the same time last year. The average wholesale propane price decreased by almost 2 cents/gal. this week to 57 cents/gal., just under US$1.14/gal. lower than the 13 January 2014 price.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/15012015/gasoline-and-diesel-prices-074/