According to the US Energy Information Administration (EIA), the US average price for regular gasoline fell six cents in the past week to US$ 3.06/gal. as of 27 October, 24 cents lower than the same time last year and the lowest price since 27 December 2010.
The West Coast price decreased 10 cents to US$ 3.32/gal., followed by the East Coast, which fell nine cents to US$ 3.05/gal. The Gulf Coast was down eight cents to US$ 2.83/gal., and the Rocky Mountains price decreased five cents to US$ 3.20/gal. Meanwhile, the Midwest price fell one cent to US$ 3.02/gal.
The US average diesel fuel price fell two cents from last week to US$ 3.64/gal., 24 cents lower than the same time last year.
The West Coast and East Coast prices each fell four cents, to US$ 3.80/gal. and US$ 3.63/gal., respectively. The Gulf Coast price fell three cents to US$ 3.56/gal., while the Rocky Mountain price declined two cents to US$ 3.71/gal. The Midwest price increased half a cent to US$ 3.61/gal.
US propane stocks decreased by 1.3 million bbls last week to 80.3 million bbls as of 24 October 2014. This is 15.5 million bbls higher than a year ago.
Gulf Coast inventories decreased by 0.7 million bbls and Midwest inventories decreased by 0.5 million bbls. East Coast inventories decreased by 0.2 million bbls, while Rocky Mountains/West Coast inventories remained unchanged.
Propylene non-fuel use inventories represented 2.7% of total propane inventories.
Residential heating oil
According to the EIA, as of 27 October, residential heating oil prices averaged US$ 3.45/gal., almost three cents lower than last week, and nearly 37 cents lower than last year’s price for the same week. Wholesale heating oil prices averaged over US$ 2.61/gal., more than 3 cents/gal. lower than last week and 40 cents lower compared to the same time last year.
Residential propane prices increased by one cent last week to just under US$ 2.40/gal., almost one cent less than the same time last year. Wholesale propane prices averaged nearly US$ 1.04/gal., approximately 4 cents lower than last week’s price and 27 cents lower than the 28 October 2013 price.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/31102014/us-gasoline-diesel-price-movements-1544/