According to the US Energy Information Administration (EIA), the US average price for regular gasoline as of 15 December 2014 was US$2.55/gal., down 13 cents from the previous week, and 69 cents lower than the same time last year.
Prices in all regions fell, with the largest drop in the Midwest, where prices fell 17 cents to US$2.42/gal. The Rocky Mountain average fell 15 cents to US$2.59/gal., while the West Coast and Gulf Coast prices both fell 11 cents/gal., to US$2.83/gal. and US$2.33/gal., respectively. The East Coast price fell 10 cents to US$2.64/gal.
US average diesel fuel price declined 12 cents this week to US$3.42/gal., 45 cents lower than the same time last year.
Prices fell in all regions, led by the Midwest and Rocky Mountains, where prices fell 15 cents to average US$3.47/gal. and US$3.50/gal., respectively. West Coast prices fell 12 cents to average US$3.47/gal., while prices on the Gulf Coast fell 11 cents to average US$3.33/gal. Prices on the East Coast declined 8 cents/gal. to average US$3.39, putting prices 53 cents below the same time last year, the widest decline of any region.
US propane stocks decreased by 0.8 million bbls last week to 78.4 million bbls as of 12 December 2014, 28.4 million bbls (56.9%) higher than a year ago.
Gulf Coast inventories decreased by 0.9 million bbls and East Coast inventories decreased by 0.2 million bbls. Rocky Mountain/West Coast inventories decreased by 0.1 million bbls, while Midwest inventories increased by 0.4 million bbls.
Propylene non-fuel use accounted for 4.2% of total propane inventories
As of 15 December 2014, residential heating oil prices averaged US$3.14/gal., almost 8 cents/gal. lower than last week, and 81 cents less than last year’s price for the same week. Wholesale heating oil prices averaged US$2.16/gal., over 10 cents/gal. lower than last week and 91 cents lower when compared to the same time last year.
Residential propane prices averaged US$2.38/gal., less than 1 cent/gal. lower than last week, and almost 33 cents/gal. less than the price at the same time last year. The average wholesale propane price decreased nearly 7 cents this week to 67 cents/gal., almost 97 cents/gal. lower than the 16 December 2013 price.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/18122014/gasoline-and-diesel-price-1803/