Prices for the Week of July 14, 2008
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City |
Regular |
Midgrade |
Premium |
Diesel |
Flagstaff |
4.15 |
4.24 |
4.35 |
4.90 |
Phoenix |
4.06 |
4.18 |
4.31 |
4.82 |
Tucson3 |
3.83 |
3.94 |
4.05 |
4.80 |
U.S. |
4.19 |
4.34 |
4.42 |
4.72 |
Source: OPIS & EIA
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Prices for the Week of July 14, 2008
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City |
Regular |
Midgrade |
Premium |
Diesel |
Kingman |
4.12 |
4.19 |
4.28 |
4.83 |
Show Low |
4.04 |
4.18 |
4.32 |
4.84 |
Sierra Vista |
3.97 |
4.02 |
4.24 |
4.86 |
Yuma |
4.01 |
4.17 |
4.22 |
4.73 |
Source: OPIS
Fuels Flattening Out for AZ & US Retail Gasoline & AZ & US Diesel Fuels
For the week of July 21, 2008 gasoline prices are down 3.0, down 0.8, and down 1.2 cents for Phoenix, Tucson and Flagstaff, at 406.4, 383.1, and 415.2 gallons respectively compared to the prior week. U.S. regular retail gasoline prices dropped by 4.5 cents compared to the same time period of the prior week at 419.0 cents per gallon. The current price quoted is 118.9 cents more than this time last year.
Weekly Phoenix diesel fuel prices dropped by 2.7 cents per gallon from the prior week at 481.7 cents per gallon as compared to the same period of the previous week. Tucson diesel prices rose by 0.4 cents to 480.3 cents per gallon compared to the prior week. And Flagstaff diesel fuel prices exhibited no change from the prior week at 490.0 cents per gallon for the week ending July 21, 2008. U.S. diesel fuel pricing fell by 4.6 cents as compared to the same time-period of the previous week at 471.8 cents per gallon. Compared to last year at this time diesel fuel prices for the U.S. have risen by 182.9 cents compared to the same time period in 2007.
To view weekly gasoline and diesel prices plus graphs of other Arizona cities, click on the city name in the tables above.
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Short-Term Energy and Winter Fuels Outlook
The U.S. Department of Energy’s Energy Information Administration released an updated Short-Term Energy and Winter Fuels Outlook. Click here to view information.
This Week In Petroleum
Source: Energy Information Administration
Released on July 16, 2008
Grilling Season vs. Heating Season
While use of propane in outdoor applications such as grilling and camping reaches a peak during the spring and summer, overall propane demand is typically low during this period, allowing for primary stockholders (refineries, bulk terminals, etc.) to rebuild supplies in preparation for winter
From the end of March through June 27, primary stockholders added 15.7 million barrels to propane inventories, about 23 percent below the most recent 5-year average of nearly 20.5 million barrels. Consequently, at the midpoint of the typical build season (April through September), propane inventories stood at an estimated 41.4 million barrels as of June 27. While only slightly below the June 30, 2007 level of 43.8 million barrels, propane inventories are tracking below the lower boundary of the average range for this time of year (see Figure 7. Weekly Petroleum Status Report). With a similar level of inventory growth during the second half of the build season, total propane inventories would reach about 57 million barrels (see figure below) prior to the start of the next winter heating season, marking the lowest pre-heating season level since 1996.
Absent an acceleration in inventory growth, 2008 would be the second consecutive year that propane inventories fell short of reaching levels averaged over the most recent 5-year period. In 2007, propane inventories totaled 58.3 million barrels by the end of September, and continued to build to nearly 61 million barrels by the end of October. Even at this higher level, some market observers thought inventories were still marginal for the 2007-08 winter heating season. Fortunately, last winter’s temperatures remained close to normal, which provided a measure of stability to propane markets for meeting expected demand without any major distribution problems.
Despite seemingly slow growth in inventories so far this year, the major supply components from production and imports remain relatively close to recent year averages. Since the end of March, total propane production averaged about 1.1 million barrels per day through June 27, roughly matching the most recent 5-year average. Propane imports averaged about 148 thousand barrels per day through the same period, a little below the most recent 5-year average of 159 thousand barrels per day, but slightly above imports during the second quarter of 2007.
Part of the weakness in the propane stockbuild this year may be attributed to the low build rate during June, nearly 60 percent below the most recent 5-year average for that month. June inventories grew by just 3.4 million barrels, the lowest rate for that month since 1985. However, data for the start of the second half of the build season show a return to stronger inventory growth. Propane stocks added 3.6 million barrels over the last two weeks to total 45.0 million barrels as of July 11, but they still remain below the average range.
The low rate of inventory growth in June more than offset above-average builds during April and May. A possible explanation may stem from the rapid rise in propane prices following the upward path of crude oil and other petroleum product prices since early spring. Consumers may have decided to hedge against the possibility of even higher future prices by starting their winter fill programs early. The spike in June propane demand (product supplied) of more than 1.0 million barrels per day, could reflect such activity, rather than a shattering of previous monthly records for outdoor barbeque grilling. Diesel Price Climbs to Another Record High
For the first time since June 23, the U.S. average retail price for regular gasoline did not increase; at 411.3 cents per gallon, the price dipped just a tenth of a cent. On a regional basis, prices were mixed, going up in the Midwest, Gulf Coast, and Rocky Mountains while dropping somewhat in the East Coast and West Coast. On the East Coast, the price dropped 0.8 cent to 407.1 cents per gallon. In the Midwest, the price rose 0.7 cent to 406.6 cents per gallon. Despite going up by 1.3 cents to 397.1 cents per gallon, the Gulf Coast price remained the lowest of any region and continued to be the only region where the price was under $4. For the second week in a row, the increase in the Rocky Mountains was the largest of any region, moving up 3.2 cents to 409.7 cents per gallon. The West Coast price dropped 2.5 cents to 441.5 cents per gallon. The average in California also went down, dropping 3 cents to 452 cents per gallon, still 136.2 cents higher than the price a year ago. For the second week in a row, the U.S. average retail diesel price increased. The price strengthened 3.7 cents to another all-time high of 476.4 cents per gallon. The prices rose to new record highs in all five regions. The average price on the East Coast increased 3.3 cents to 482.2 cents per gallon. The price in the Midwest remained the lowest of any region at 469.8 cents per gallon, an increase of 4.4 cents. The average price in the Gulf Coast rose 4 cents to 473.7 cents per gallon. The Rocky Mountains had the largest rise of any region, jumping 4.6 cents to 471.8 cents per gallon. On the West Coast, the average price moved 2.3 cents higher to 490.9 cents per gallon. In California, the average price also increased, going up 2.5 cents to 502.6 cents per gallon. Click here to continue article.
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U.S. DEPARTMENT OF ENERGY RESOURCES
Weekly Petroleum Status Report
Gasoline & Diesel Fuel Update
U.S. Retail Gasoline Prices
Petroleum Analyses
Primer on Gasoline Prices
Petroleum State Profiles
Petroleum Forecasts
Short-term Energy Outlook
Annual Energy Outlook
International Energy Outlook
Other Resources
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