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Weekly Petroleum Report -- 11/21/2012

November 21, 2012
By: Davis Michaelsen, Pro Farmer Inputs Monitor Editor


The U.S. average retail price of regular gasoline decreased two cents last week to $3.43 per gallon, six cents higher than last year at this time. The largest decrease came on the West Coast nozzlefor the fourth consecutive week, with the price down eight cents from last week to $3.71 per gallon.

The Rocky Mountain price dropped a nickel from last week to $3.51 per gallon. East of the Rockies, the East Coast price is now $3.48 per gallon, down a penny from last week. The Gulf Coast price remains the lowest in the Nation at $3.17 per gallon, a decrease of four cents per gallon.

Going against the trend, the Midwest price increased a penny to $3.34 per gallon.

Highway Diesel-

The national average diesel fuel price decreased less than a penny to remain at $3.98 per gallon, three cents lower than last year at this time.crprfuts

The largest decrease came in the Rocky Mountain region, where the price fell five cents to $4.06 per gallon. The West Coast price is now $4.09 per gallon, four cents lower than last week. Down a penny, the Gulf Coast price is $3.87 per gallon. The Midwest price is up less than a penny to remain at $3.91 per gallon, and the East Coast price increased two cents to $4.05 per gallon.


Total U.S. inventories of propane dropped 0.5 million barrels last week to end at 72.7 million barrels, 22% higher than a year ago.

The Midwest region led the decline, withdrawing 0.8 million barrels. Meanwhile, East Coast stocks fell 0.2 million barrels and Rocky Mountain/West Coast stocks fell slightly. The Gulf Coast region added 0.5 million barrels of propane inventory.

Propylene non-fuel-use inventories represented 5.8 percent of total propane inventories.




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