US gasoline and diesel price movements: Week ending 5 January 2015

Gasoline

The US average price for regular gasoline on 5 January 2015 was US$ 2.21/gal., down nine cents from the previous week and US$1.12/gal. less than the same time last year.

For the first time since 2009, two regions have average prices below US$2/gal.: the Midwest (down 11 cents to US$1.97/gal.) and the Gulf Coast (down 8 cents to US$1.99/gal.). The Rocky Mountain price fell 11 cents to US$2.11/gal. The East Coast price declined eight cents to US$2.36/gal., while the West Coast was down four cents to US$2.58/gal.

Diesel

The US average price for diesel fuel declined eight cents to US$3.14/gal., down 77 cents from the same time last year.

The Midwest and Rocky Mountain prices declined 10 cents, to US$3.10/gal. and US$3.14/gal., respectively. The Gulf Coast was down right cents to US$3.05/gal. The East Coast and West Coast prices both fell five cents, to US$3.20/gal. and US$3.22/gal., respectively.

Propane inventories

US propane stocks decreased by 1.6 million bbls last week to 75.7 million bbls as of 2 January 2015, 33.2 million bbls (78.3%) higher than a year ago. Gulf Coast inventories decreased by 1.1 million bbls and Midwest inventories decreased by 0.4 million bbls. Rocky Mountain/West Coast inventories decreased by 0.1 million bbls, while East Coast inventories increased by 0.1 million bbls.

Propylene non-fuel use inventories represented 4.8% of total propane inventories.

Residential fuel prices

As of 5 January 2015, residential heating oil prices averaged less than US$2.97/gal., nearly 8 cents/gal. lower than last week, and US$1.05/gal. less than last year’s price for the same week. Wholesale heating oil prices averaged US$1.91/gal., 9 cents/gal. lower than last week and US$1.16/gal. lower when compared to the same time last year.

Residential propane prices averaged less than US$2.36/gal., 1 cent/gal. lower than last week, and over 47 cents/gal. less than the price at the same time last year. The average wholesale propane price decreased by almost 4 cents/gal. this week to less than 59 cents/gal., just under US$1.10/gal. lower than the 6 January 2014 price.

Adapted from a press release by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/refining/08012015/gasoline-and-diesel-prices-039/