Gasoline price up while diesel fuel stays flat
The U.S. average retail price of regular gasoline increased four cents to $3.48 per gallon as of March 3, 2014, 28 cents lower than last year at this time. The Rocky Mountain price was $3.39, up seven cents from last week. The Midwest and West Coast prices both gained six cents, to $3.50 per gallon and $3.71 per gallon, respectively. On the Gulf Coast the price was $3.23 per gallon, two cents more than last week, and the East Coast price was a penny higher at $3.47 per gallon.
The national average diesel fuel price was down less than a penny to remain at $4.02 per gallon, 11 cents lower than last year at this time. The Rocky Mountain price increased three cents to $3.98 per gallon and the East Coast price was a penny higher at $4.16 per gallon. On the West Coast, the price gained a fraction of a cent to remain at $4.04 per gallon. Prices on the Gulf Coast and in the Midwest both decreased one cent, to $3.79 per gallon and $4.02 per gallon, respectively.
Propane inventories rise
U.S. propane stocks rose by 0.5 million barrels to end at 27.2 million barrels last week, 18.5 million barrels (40.5%) lower than a year ago. Gulf Coast inventories led the gain, rising by 0.6 million barrels, and East Coast inventories increased by 0.3 million barrels. Midwest inventories decreased by 0.4 million barrels, while Rocky Mountain/West Coast inventories remained nearly unchanged. Propylene non-fuel-use inventories represented 12.6% of total propane inventories.
Residential heating oil and propane prices decrease
Residential heating oil prices decreased almost 2 cents per gallon to reach a price of nearly $4.23 per gallon during the period ending March 3, 2014. This is 15 cents per gallon higher than last year's price at this time. Wholesale heating oil prices fell by less than 4 cents per gallon last week to nearly $3.36 per gallon.
The average residential propane price decreased by almost 18 cents per gallon last week to $3.30 per gallon, less than 99 cents per gallon higher than the same period last year. Wholesale propane prices decreased by 33 cents per gallon to almost $1.51 per gallon as of March 3, 2014.
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