The U.S. average price for regular gasoline decreased by less than a penny last week to remain at $3.67 per gallon as of May 19, 2014, down nearly one cent from this time last year. The East Coast led the decline with a decrease of two cents to $3.66 per gallon. The West Coast price decreased a penny to $4.02 per gallon, while the Rocky Mountain price decreased less than a cent to remain at $3.51 per gallon. The Midwest moved opposite with an increase of two cents to $3.61 per gallon, and the Gulf Coast increased by less than a penny but remained at $3.44 per gallon.
U.S. diesel fuel prices decreased across the country, down more than one cent to $3.93 per gallon, four cents more than at the same time last year. The Midwest and Rocky Mountain prices fell by two cents, to $3.90 and $3.95 per gallon respectively. The Gulf Coast, East Coast and West Coast prices each decreased by a penny, to $3.79, $4.03 and $4.03 per gallon respectively.
Propane inventories gain
U.S. propane stocks increased by 2.2 million barrels last week to 39.9 million barrels as of May 16, 2014, 4.1 million barrels (9.2%) lower than a year ago. Gulf Coast inventories increased by 1.3 million barrels and Midwest inventories increased by 1.0 million barrels. East Coast inventories and Rocky Mountain/ West Coast inventories both remained unchanged. Propylene non-fuel-use inventories represented 9.5% of total propane inventories.