U.S. Energy Information Administration (EIA) released data today relating to petroleum prices for the week ended September 21, 2012. The Rocky Mountain region showed the only upward movement in gasoline, but prices rose by less than a penny. All other gasoline and highway diesel prices fell week-over-week.
Average retail price for regular gasoline was down five cents last week to $4.09/gallon, 32 cents per gallon higher than the same period last year. East Coast gasoline a nickel lower to $3.83; Gulf Coast lower six cents to $3.60/gallon; West Coast gasoline down less than a penny to $4.07/gallon. Midwest gasoline led declines - lower eight cents to $3.81/gallon.
Rocky Mountain region showed the only upward movement - average prices rose less than a penny to $3.77/gallon.
National average diesel prices were lower by a nickel last week to $4.09/gallon, up thirty cents over the same time last year. The West Coast region led declines - down eight cents to $4.32; Rocky Mountain region, Gulf Coast and East Coast regions all fell three cents/gallon . Rocky Mountain region $4.23; Gulf Coast $4.00/gallon; East Coast diesel at $4.09. Midwest diesel six cents lower on the week to $4.02/gallon.
Inventory levels showed signs of leveling off last week as the winter build up is almost complete. Inventory increased 0.3 million barrels to 74.3 million barrels - 32% higher over last year. Midwest regional supply up 0.3 million barrels; East Coast added 0.1 million barrels; Rocky Mountain/West Coast regional supply both up only slightly.
Gulf Coast inventory down 0.2 million barrels.
Propylene non fuel-use inventories represented 6.1% of total propane stores.
As of Now...
Currently, November natural gas rallying - opening today, September 27, 2012, at $3.20, trending higher over the last five days. November crude oil found strong downside support around $89.00 yesterday - Nov crude opened today at $90.08. Both November natural gas and November crude moving upward as of 9am (CT).