Gasoline and diesel fuel prices decline
The U.S. average price for regular gasoline decreased five cents last week to $2.89 per gallon as of November 17, 2014, 33 cents lower than the same time last year. The Rocky Mountain price declined seven cents to $3.01 per gallon. The Midwest, Gulf Coast, and West Coast prices each fell five cents, to $2.86 per gallon, $2.67 per gallon, and $3.11 per gallon, respectively. The East Coast price declined four cents to $2.91 per gallon.
The average U.S price for diesel fuel decreased two cents from the week prior to $3.66 per gallon, down 16 cents from the same time last year. The East Coast and Rocky Mountain prices both declined three cents, to $3.54 per gallon and $3.77 per gallon, respectively. The West Coast and Gulf Coast prices fell two cents, to $3.76 per gallon and $3.54 per gallon, respectively. The Midwest price fell less than a penny to remain at $3.79 per gallon.
RESIDENTIAL HEATING FUEL PRICES DECREASE
As of November 17, 2014, residential heating oil prices averaged $3.38 per gallon, 3 cents per gallon lower than last week, and nearly 44 cents less than last year’s price for the same week. Wholesale heating oil prices averaged $2.60 per gallon, 10 cents per gallon lower than last week and nearly 44 cents lower when compared to the same time last year.
Residential propane prices decreased to $2.40 per gallon, almost 1 cent per gallon lower than last week, and 10 cents per gallon less than the price at the same time last year. Wholesale propane prices averaged $1.00 per gallon, nearly 2 cents lower than last week’s price and almost 41 cents per gallon lower than the November 18, 2013 price.
Propane inventories post slight gain
U.S. propane stocks increased by 0.1 million barrels last week to 81.2 million barrels as of November 14, 2014, 22.8 million barrels (39.0%) higher than a year ago. Gulf Coast inventories increased by 0.4 million barrels while Midwest inventories decreased by 0.3 million barrels. East Coast inventories and Rocky Mountain/West Coast inventories both remained unchanged. Propylene non-fuel-use inventories represented 3.7% of total propane inventories.
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