Release date: June 6, 2018 | Next release date: June 13, 2018
2018 EIA Energy Conference
There is no feature article for This Week in Petroleum today. Thanks to all who attended and participated in the 2018 EIA Energy Conference.
The conference presentations are now available.
U.S. average regular gasoline and diesel prices decrease
The U.S. average regular gasoline retail price decreased 2 cents from last week to $2.94 per gallon on June 4, 2018, up 53 cents from the same time last year. Midwest and East Coast prices decreased over three cents each to $2.85 per gallon and $2.88 per gallon, respectively, and West Coast prices decreased slightly, remaining at $3.46 per gallon. Rocky Mountain and Gulf Coast prices each increased less than a penny to $3.00 per gallon and $2.73 per gallon, respectively.
The U.S. average diesel fuel price decreased less than a penny, remaining at $3.29 per gallon on June 4, 2018, 72 cents higher than a year ago. Midwest and East Coast prices each declined nearly one cent to $3.22 per gallon and $3.28 per gallon, respectively, while West Coast prices were unchanged at $3.78 per gallon. Rocky Mountain prices increased nearly one cent to $3.36 per gallon and Gulf Coast prices increased slightly to $3.06 per gallon.
Propane/propylene inventories rise
U.S. propane/propylene stocks increased by 4.0 million barrels last week to 47.1 million barrels as of June 1, 2018, 12.0 million barrels (20.3%) lower than the five-year average inventory level for this same time of year. Gulf Coast, Midwest, and Rocky Mountain/West Coast inventories increased by 2.8 million barrels, 1.6 million barrels, and 0.2 million barrels, respectively, while East Coast inventories decreased by 0.6 million barrels. Propylene non-fuel-use inventories represented 6.3% of total propane/propylene inventories.
For questions about This Week in Petroleum, contact the Petroleum Markets Team at 202-586-4522.
Retail prices (dollars per gallon)
| Retail prices | Change from last | ||
|---|---|---|---|
| 06/04/18 | Week | Year | |
| Gasoline | 2.940 | -0.022 | 0.526 |
| Diesel | 3.285 | -0.003 | 0.721 |
Futures prices (dollars per gallon*)
| Futures prices | Change from last | ||
|---|---|---|---|
| 06/01/18 | Week | Year | |
| Crude oil | 65.81 | -2.07 | 18.15 |
| Gasoline | 2.143 | -0.038 | 0.566 |
| Heating oil | 2.176 | -0.034 | 0.691 |
| *Note: Crude oil price in dollars per barrel. | |||
Stocks (million barrels)
| Stocks | Change from last | ||
|---|---|---|---|
| 06/01/18 | Week | Year | |
| Crude oil | 436.6 | 2.1 | -76.6 |
| Gasoline | 239.0 | 4.6 | -1.3 |
| Distillate | 116.8 | 2.2 | -34.3 |
| Propane | 47.113 | 3.978 | -3.312 |