Nebraska Gasoline and Diesel Prices

More unplanned refinery maintenance this week has added to an already troublesome turnaround season. With a year of historically high demand, low imports, tight gasoline supplies, and recent geopolitical tensions, we have rising gasoline and diesel fuel prices.

The summer driving season is traditionally between the Memorial Day and Labor Day weekends each year with peak summer gasoline demand occurring after the 4th of July. Demand patterns have shifted in recent years since gasoline demand has started increasing in March and April with a pre-summer peak in gasoline prices. For the week of April 2, Nebraska's average gasoline price had increased eight cents from the previous week to $2.73, which was 13 cents higher than the price at this time last year. This week, average prices in surveyed cities ranged from $2.68 in Columbus and Norfolk to $2.77 in North Platte. As of March 30, the Midwest gasoline stock level was in the lower region of the normal range with 50.7 million barrels.

Nebraska's average diesel price had risen 12 cents from last week. According to the weekly price report, this week's state average was 28 cents more than the price at this time last year. Weekly averages in the surveyed cities ranged from $2.87 in Columbus to $2.96 in Kearney. On the supply side, the Midwest distillate fuel inventory level was in the normal range with 19 million barrels of ultra-low sulfur diesel fuel and 5.7 million barrels of low sulfur diesel fuel as of March 30.

Regular unleaded gasoline is regular unleaded motor gasoline with an 87 to 88 octane. Diesel fuel is fuel used for internal combustion in diesel engines. Ultra-low sulfur diesel fuel has sulfur levels of 15 ppm and less while low sulfur diesel fuel has 15 ppm to 500 ppm sulfur.

An archive of this report, average gasoline prices for each month, average diesel prices for each month, and historical weekly prices are available for diesel and three grades of motor gasoline.

An archive of this report, average gasoline prices for each month, average diesel prices for each month, and historical weekly prices are available for diesel and three grades of motor gasoline.

A general rule of thumb:  A dollar increase in the West Texas Intermediate (WTI) crude oil price per barrel will result in a 2.5-cent increase in the gasoline price per gallon and the diesel fuel price per gallon.  Likewise, a dollar decrease in the WTI crude oil price per barrel will result in a 2.5-cent decrease in the gasoline price per gallon and the diesel fuel price per gallon.