Happy Holidays

On behalf of the authors, support staff, and the many others at EIA who make This Week In Petroleum possible, best wishes for a safe and happy new year.

This Week In Petroleum will return January 11, 2017.

Accompanying charts and tables have been updated to reflect data from the latest Weekly Petroleum Status Report for the week ending December 23, 2016.

U.S. average regular gasoline and diesel retail prices climb

The U.S. average regular gasoline retail price rose almost five cents from the previous week to $2.31 per gallon on December 26, up nearly 28 cents from the same time last year. The Midwest price rose nine cents to $2.28 per gallon and the Rocky Mountain price rose four cents to $2.18 per gallon. The West Coast and the Gulf Coast prices each rose three cents to $2.59 per gallon and $2.08 per gallon, respectively, while the East Coast price rose two cents to $2.31 per gallon.

The U.S. average diesel fuel price rose one cent to $2.54 per gallon on December 26, 31 cents higher than a year ago. The West Coast and Rocky Mountain prices each rose two cents to $2.81 per gallon and $2.52 per gallon, respectively, while the East Coast, Midwest, and Gulf Coast prices each rose one cent to $2.57 per gallon, $2.49 per gallon, and $2.42 per gallon, respectively.

Propane inventories fall

U.S. propane stocks decreased by 5.7 million barrels last week to 86.9 million barrels as of December 23, 2016, 10.9 million barrels (11.1%) lower than a year ago. Gulf Coast, Midwest, and Rocky Mountain/West Coast inventories decreased by 4.4 million barrels, 1.0 million barrels, and 0.3 million barrels, respectively, while East Coast inventories remained virtually unchanged. Propylene non-fuel-use inventories represented 5.5% of total propane inventories.

Residential heating fuel prices increase

As of December 26, 2016, residential heating oil prices averaged just under $2.59 per gallon, nearly two cents per gallon higher than last week's price and 41 cents per gallon higher than last year at this time. The average wholesale heating oil price is $1.76 per gallon, up two cents per gallon from last week and nearly 61 cents per gallon higher than a year ago.

Residential propane prices averaged $2.21 per gallon, up nearly three cents per gallon from last week and 22 cents per gallon more than a year ago. Wholesale propane prices averaged nearly $0.80 per gallon, up almost three cents per gallon from last week and just under 35 cents per gallon higher than last year's price.

For questions about This Week in Petroleum, contact the Petroleum Markets Team at 202-586-4522.

Tags: oil/petroleum, prices