This Week in Petroleum

Source:  Energy Information Administration
Released on November 12, 2009
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Propane Stocks Fall Again
Inventories of propane fell for the fourth week in a row after peaking in early October, the highest level since November 1998. Total U.S. propane inventories fell 1.2 million barrels to 68.4 million barrels. The Gulf Coast regional stocks fell 0.7 million barrels, while the Midwest region dropped by 0.6 million barrels. Inventories in the East Coast region drew 0.1 million barrels while the Rocky Mountain/West Coast region added 0.2 million barrels of inventory. Propylene non-fuel use inventories decreased their share of total propane/propylene inventories from 3.4 percent to 3.3 percent.

Residential Heating Fuel Prices Increase
Residential heating oil prices rose during the period ending November 9, 2009. The average residential heating oil price gained 1.1 cents per gallon last week to reach 274.5 cents per gallon, a decrease of 19.6 cents per gallon from the same time last year. Wholesale heating oil prices decreased 1.5 cents per gallon to reach 206.1 cents per gallon, 3.3 cents per gallon lower than at this time last year.

The average residential propane price increased 3.2 cents per gallon to reach 221.6 cents per gallon. This was a decrease of 24.7 cents per gallon compared to the 246.3 cents per gallon average from the same period last year. Wholesale propane prices rose 2.7 cents per gallon, from 116.4 cents per gallon to 119.1 cents per gallon. This was an increase of 26.2 cents per gallon when compared to the November 10, 2008 price of 92.9 cents per gallon.

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