Fuel Report: Prices Little Changed; Midwest Propane Stocks Decline

The U.S. average diesel fuel price fell by less than 1 cent, remaining virtually unchanged at $3.06 per gallon on November 4, 28 cents lower than a year ago. The East Coast price fell nearly 2 cents to $3.04 per gallon, the Gulf Clast price declined by more than 1 cent to $2.80 per gallon, and the Midwest price fell by less than 1 cent, remaining at $2.96 per gallon. The Rocky Mountain price increased by more than 8 cents to $3.17 per gallon, and the West Coast price increased more than 2 cents to $3.75 per gallon.

The U.S. average regular gasoline retail price rose nearly 1 cent from the previous week to $2.61 per gallon on November 4, 15 cents lower than the same time last year. The Rocky Mountain price increased more than 5 cents to $2.79 per gallon, the East Coast price rose by more than 2 cents to $2.48 per gallon, and the Midwest price rose by nearly 1 cent to $2.42 per gallon. The Gulf Coast price fell by nearly 2 cents to $2.23 per gallon, while the West Coast price remained unchanged at $3.60 per gallon.

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U.S. propane/propylene stocks increased by 0.3 million barrels last week to 100.2 million barrels as of November 1, 2019, 11.1 million barrels (12.5%) greater than the five-year (2014-18) average inventory levels for this same time of year. Gulf Coast and East Coast inventories each increased by 0.5 million barrels, and Rocky Mountain/West Coast inventories increased by 0.1 million barrels. Midwest inventories decreased by 0.8 million barrels. Propylene non-fuel-use inventories represented 4.6% of total propane/propylene inventories.

Residential propane prices averaged more than $1.89 per gallon, nearly 5 cents per gallon higher than last week’s price but almost 53 cents per gallon lower than a year ago. Wholesale propane prices averaged nearly $0.69 per gallon, 8 cents per gallon higher than last week’s price but more than 18 cents per gallon below last year’s price.

As of November 4, 2019, residential heating oil prices averaged almost $2.98 per gallon, nearly 1 cent per gallon above last week’s price but nearly 38 cents per gallon below last year’s price at this time. Wholesale heating oil prices averaged almost $2.04 per gallon, nearly 5 cents per gallon less than last week’s price and almost 25 cents per gallon less than a year ago.