Nebraska Gasoline and Diesel Prices

Motor Gasoline

For the week of September 17, Nebraska's average gasoline price fell 11 cents f rom the previous week to $2.91, which was 44 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $2.77 in Omaha to $3.02 in Kearney. As of September 14, the Midwest gasoline stock level was below the normal range with 48.7 million barrels.

Diesel Fuel

Diesel prices are ready to climb to all-time highs on the possibility that a hurricane will damage Gulf Coast oil infrastucture. The main factors affecting the market are demand issues across the Mid-Continent (especially for diesel) and hurricane concerns during a time when Gulf refineries are unstable -- with turnarounds on the horizon.

This week the price of diesel fuel in the state increased one cent from the previous week to $3.08. According to the weekly price report, this week's state average was 12 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.05 in North Platte to $3.10 in Kearney. On the supply side, the Midwest distillate fuel inventory level was in the lower half of the normal range with 20.4 million barrels of ultra-low sulfur diesel fuel and 5.2 million barrels of low sulfur diesel fuel as of September 14.

Notes

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 ranges from more-than-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.

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.