The U.S. average retail price of regular gasoline decreased two cents to $3.27 per gallon as of December 2, 2013, 12 cents lower than last year at this time. Prices rose two cents on the West Coast to $3.48 per gallon, and less than a penny on the East Coast to remain at $3.39 per gallon, while falling in all other regions of the nation. The largest decrease came in the Midwest, where the price decreased seven cents to $3.12 per gallon. In the Rocky Mountains the price was $3.11 per gallon, a drop of three cents from last week, and the Gulf Coast price was two cents lower at $3.12 per gallon.
The national average diesel fuel price increased four cents to $3.88 per gallon, 14 cents lower than last year at this time. Prices increased in all regions of the nation, with the largest increase coming in the Midwest, where the price was up five cents to $3.88 per gallon. The East and West Coast prices both were up four cents, to $3.91 per gallon and $4.00 per gallon, respectively. On the Gulf Coast the price was $3.78 per gallon, a gain of three cents, and the Rocky Mountain price rose two cents to $3.86 per gallon.
Residential heating oil prices increased by almost 3 cents per gallon last week during the period ending December 2, 2013, to nearly $3.92 per gallon. This is 11 cents per gallon lower than last year’s price at this time. Wholesale heating oil prices were virtually unchanged last week, remaining at $3.15 per gallon.
The average residential propane price increased by 2 cents per gallon last week to just below $2.57 per gallon, 32 cents per gallon higher than the same period last year. Wholesale propane prices decreased by 2 cents per gallon to $1.41 per gallon as of December 2, 2013.
U.S. propane stocks fell by 2.7 million barrels to end at 54.3 million barrels last week, 18.2 million barrels (25.1%) lower than a year ago. Gulf Coast regional inventories dropped by 2.2 million barrels, and Midwest inventories decreased by 0.4 million barrels. East Coast and Rocky Mountain/West Coast inventories remained unchanged from the previous week. Propylene non-fuel-use inventories represented 5.5% of total propane inventories.
