Total U.S. inventories of propane decreased by 0.5 million barrels last week to end at 66.0 million barrels, about 8.5 million barrels (11.5%) lower than the same week last year, reports the Energy Information Administration (EIA).
Midwest inventories led the draw, falling 0.8 million barrels, while the Gulf Coast drew 0.6 million barrels. East Coast stocks gained 0.8 million barrels and the Rocky Mountain/West Coast stocks were up slightly. Propylene non-fuel-use inventories represented 4.5% of total propane inventories.
The average residential propane price increased by nearly 4 cents per gallon last week to reach $2.37 per gallon. This is an increase of 16 cents per gallon compared with the same period last year. Wholesale propane prices increased by 2 cents per gallon to reach $1.27 per gallon for the week ending October 21, 2013.
Residential heating oil prices increased during the period ending October 21, 2013, according to the October 23 issue of the EIA publication This Week in Petroleum. The average residential heating oil price rose by 1 cent per gallon last week to reach $3.85 per gallon, a decrease of 19 cents per gallon from the same time last year. Wholesale heating oil prices remained flat, holding at just under $3.11 per gallon.
