Propane/propylene inventories decline; Residential heating fuel prices increase

<font face="tahoma">Propane/propylene inventories decline; Residential heating fuel prices increase<br></font><div><br></div><div><img src="https://download.qtmarketcenter.com/jay/propane-flame.jpg"></div><div><br></div><font face="tahoma">U.S. propane/propylene stocks decreased by 2.2 million barrels last week to 41.2 million barrels as of February 26, 2021, 8.7 million barrels (17.4%) less than the five-year (2016-2020) average inventory levels for this same time of year. Gulf Coast, Midwest, Rocky Mountain/West Coast, and East Coast inventories declined by 1.0 million barrels, 0.8 million barrels, 0.4 million barrels, and 0.1 million barrels, respectively.<br><br>As of March 1, 2021, residential heating oil prices averaged nearly $2.86 per gallon, 5 cents per gallon higher than last week's price and almost 4 cents per gallon higher than last year's price at this time. Wholesale heating oil prices averaged more than $1.98 per gallon, nearly 3 cents per gallon above last week's price and almost 38 cents per gallon above last year's price.<br><br></font><div><font face="tahoma">Residential propane prices averaged nearly $2.51 per gallon, more than 1 cent per gallon higher than last week's price and almost 54 cents per gallon above last year's price. Wholesale propane prices averaged nearly $1.28 per gallon, almost 20 cents per gallon below last week's price but nearly 71 cents per gallon above last year's price.<br></font></div><div><br></div>lj<br>