Happy Holidays

From the many contributing authors, support staff, and others in EIA who make This Week In Petroleum possible, best wishes for a safe and happy new year.

Accompanying charts and tables have been updated to reflect data from the latest Weekly Petroleum Status Report for the week ending December 20, 2013.

Gasoline price up while diesel fuel price is flat
The U.S. average retail price of regular gasoline increased three cents to $3.27 per gallon as of December 23, 2013, one cent higher than last year at this time. This is the first time since July that the national average price is above the year-ago level. Prices increased in all regions of the nation except the Rocky Mountains, where the price was unchanged at $3.06 per gallon. The largest increase came in the Midwest, where the price was up eight cents to $3.16 per gallon, and the price was up one cent on the East, Gulf, and West Coasts to $3.38 per gallon, $3.06 per gallon, and $3.48 per gallon, respectively.

The national average diesel fuel price remained relatively flat compared to last week at $3.87 per gallon, five cents lower than last year at this time. Prices were relatively unchanged on the East Coast and Rocky Mountains to remain at $3.92 per gallon and $3.85 per gallon, respectively, and the West Coast price increased less than a penny to $3.99 per gallon. The Gulf Coast price remained at $3.77 per gallon, less than a penny more than last week, while the Midwest price was down less than a penny, remaining at $3.85 per gallon.

Propane inventories fall
U.S. propane stocks fell by 2.5 million barrels to end at 47.4 million barrels last week, 21.4 million barrels (31.1%) lower than a year ago. Gulf Coast regional inventories dropped by 1.2 million barrels, and Midwest inventories decreased by 0.8 million barrels. East Coast inventories decreased by 0.3 million barrels, and Rocky Mountain/West Coast inventories dropped by 0.2 million barrels. Propylene non-fuel-use inventories represented 7.3% of total propane inventories.

Residential heating fuel prices increase
Residential heating oil prices increased by 3 cents per gallon to $3.98 per gallon during the period ending December 23, 2013. This is almost 1 cent per gallon higher than last year's price at this time. Wholesale heating oil prices increased 11 cents per gallon last week to nearly $3.19 per gallon.

The average residential propane price increased 5 cents per gallon last week to $2.76 per gallon, 51 cents per gallon higher than the same period last year. Wholesale propane prices increased by less than 1 cent per gallon to remain at $1.64 per gallon as of December 23, 2013.