The Energy Information Administration (EIA) continues to project a tight global oil supply and demand balance through next year. Until demand growth slows down or supply capacity increases, a sustained fall in crude oil and petroleum product prices is not expected. Global demand continues to grow at 2 million barrels per day or more with no comparable increase in crude oil production capacity.
Nebraska's retail gasoline price fell 6 cents from last week to $2.22 with metro prices ranging from $2.18 in Grand Island, North Platte, and Omaha to $2.26 in Lincoln. This week's state average was 42 cents higher than the price at this time last year. As of April 15, the Midwest gasoline stock level was at the upper boundary of the normal range with 51.8 million barrels.
The state average retail diesel price decreased 3 cents from last week to $2.32 per gallon with metro prices ranging from $2.26 in Columbus to $2.33 in Kearney. According to the weekly price report, this week's state average is 56 cents higher than the price at this time last year. The Midwest d istillate fuel inventory level continued at the lower boundary of the normal range as of April 15.
An archive of this report and historical weekly prices are available.
