This Week in Petroleum

Source:  Energy Information Administration
Released on November 4, 2009
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Propane Inventories Continue Decline
Propane stocks continued to draw throughout most of the U.S. last week, falling by 1.4 million barrels to approximately 69.6 million barrels. The largest regional decline of 0.9 million barrels occurred in the Midwest, reflecting crop-drying demand. The Gulf Coast region drew 0.5 million barrels and the East Coast regional stocks fell by 0.1 million barrels. The Rocky Mountain/West Coast region grew slightly. Propylene non-fuel use inventories slightly increased their share of total propane/propylene inventories from 3.3 percent to 3.4 percent.

Residential Heating Fuel Prices Increase
Residential heating oil prices increased slightly during the period ending November 2, 2009. The average residential heating oil price rose 1.2 cents per gallon last week to reach 273.4 cents per gallon, a decrease of 25.3 cents per gallon from the same time last year. Wholesale heating oil prices dropped 7.3 cents per gallon to reach 207.6 cents per gallon, which was 7.4 cents per gallon lower than last year at this time.

The average residential propane price rose 2.8 cents per gallon to reach 218.5 cents per gallon. This was a decrease of 31.5 cents per gallon compared to the 250.0 cents per gallon average from the same period last year. Wholesale propane prices fell 2.1 cents per gallon, from 118.5 cents per gallon to 116.4 cents per gallon. This was an increase of 9.6 cents per gallon when compared to the November 3, 2008 price of 106.8 cents per gallon.

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