U.S. propane stocks decreased by 3.4 million barrels last week to 100.7 million barrels as of December 4, 2015, 21.5 million barrels (27.2%) higher than a year ago. Gulf Coast inventories decreased by 2.4 million barrels and Midwest inventories decreased by 0.7 million barrels. East Coast inventories decreased by 0.3 million barrels while Rocky Mountain/West Coast inventories remained unchanged. Propylene non-fuel-use inventories represented 2.9% of total propane inventories.
As of December 7, 2015, residential heating oil prices averaged $2.33 per gallon, 3 cents per gallon below last week and 89 cents lower than one year ago. The average wholesale heating oil price this week is $1.35 per gallon, nearly 8 cents lower than last week and 91 cents per gallon lower than a year ago.
Residential propane prices averaged just under $1.97 per gallon, almost 1 cent per gallon higher than last week’s price and nearly 42 cents lower than one year ago. Wholesale propane prices averaged just shy of 50 cents per gallon, almost 1 cent per gallon lower than last week and nearly 25 cents lower than last year’s price for the same week.