Propane inventories fall
U.S. propane stocks decreased by 2.1 million barrels last week to 67.2 million barrels as of January 30, 2015, 36.4 million barrels (118.0%) higher than a year ago. Midwest inventories decreased by 1.1 million barrels and East Coast inventories decreased by 0.5 million barrels. Gulf Coast inventories decreased by 0.4 million barrels and Rocky Mountain/West Coast inventories decreased by 0.1 million barrels. Propylene non-fuel-use inventories represented 6.1% of total propane inventories.
The average wholesale propane price decreased by nearly 2 cents per gallon this week to 61 cents per gallon, $2.09 per gallon lower than the February 3, 2014 price. Residential propane prices averaged less than $2.37 per gallon, about 1 cent per gallon lower than last week, and $1.52 per gallon less than the price at the same time last year.
Residential heating fuel prices decrease
As of February 2, 2015, residential heating oil prices averaged less than $2.80 per gallon, almost 2 cents per gallon lower than last week, and $1.44 per gallon less than last year’s price for the same week. Wholesale heating oil prices averaged $1.83 per gallon, 7 cents per gallon higher than last week and $1.61 per gallon lower when compared to the same time last year.