According to the US Energy Information Administration (EIA), the US average price for regular gasoline fell five cents last week to US$ 2.94/gal. as of 10 November 2014, 25 cents less than a year ago, and the lowest average in nearly four years.
The West Coast price led the decline, falling seven cents to US$ 3.17/gal., followed by the Rocky Mountains price, which dropped six cents to US$ 3.08/gal. The Gulf Coast and Midwest prices both decreased five cents, to US$ 2.72/gal. and US$ 2.91/gal., respectively. The East Coast price fell four cents to US$ 2.95/gal.
US average diesel price increased by five cents from the previous week to US$ 3.68/gal., 16 cents less than the same time last year.
The Midwest price increased 16 cents from the previous week to US$ 3.79/gal., and the Rocky Mountain price increased eight cents to US$ 3.80/gal. The Gulf Coast prise rose three cents to US$ 3.56/gal. Meanwhile, the East Coast price fell by three cents to US$ 3.57/gal., while the West Coast price was down one cent to US$ 3.78/gal.
Residential heating oil
As of 10 November, residential heating oil prices averaged US$ 3.42/gal., approximately 2 cents/gal. lower than last week, and nearly 40 cents less than last year’s price for the same week. Wholesale heating oil prices averaged almost US$ 2.71/gal., nearly 1 cent/gal. more than last week and 28 cents lower than the same time last year.
Residential propane prices were virtually unchanged from last week, according to the EIA, holding at US$ 2.40/gal., 8 cents less than the price at the same time last year. Wholesale propane prices averaged US$ 1.02/gal., nearly 5 cents less than last week’s price and 36 cents lower than the 11 November 2013 price.
US propane stocks decreased by 0.1 million bbls last week to 80.1 million bbls as of 31 October 2014, 18.1 million bbls (29.1%) higher than a year ago.
Midwest inventories decreased by 0.5 million bbls, while Gulf Coast inventories increased by 0.4 million bbls. Both East Coast inventories and Rocky Mountain/West Coast inventories remained unchanged.
Propylene non-fuel use accounted for 3.1% of total propane inventories.
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