Nebraska Gasoline and Diesel Prices
Motor Gasoline
The possibility of a major storm developing is looking doubtful as the end of hurricane season approaches. For the week of October 8, Nebraska's average gasoline price fell six cents from the previous week to $2.79, which was 56 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $2.72 in Omaha to $2.87 in Kearney. As of October 5, the Midwest gasoline stock level was below the normal range with 47.9 million barrels.
Diesel Fuel
Harvest demand has been extended due to heavy rains throughout the nation's breadbasket. This week the price of diesel fuel in the state decreased one cent from the previous week to $3.14. According to the weekly price report, this week's state average was 59 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.10 in Norfolk, North Platte, and Omaha to $3.18 in Kearney. On the supply side, the Midwest distillate fuel inventory level was in the normal range with 21.1 million barrels of ultra-low sulfur diesel fuel and 5.1 million barrels of low sulfur diesel fuel as of October 5.
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.
| Columbus | Grand Island | Kearney | Lincoln | Norfolk | North Platte | Omaha | State | |
|---|---|---|---|---|---|---|---|---|
| Notes: The average may not equal the average of the components due to independent rounding. NA = Not Available. | ||||||||
| Weekly Average | $2.84 | $2.75 | $2.87 | $2.76 | $2.84 | $2.80 | $2.72 | $2.79 |
| Columbus | Grand Island | Kearney | Lincoln | Norfolk | North Platte | Omaha | State | |
|---|---|---|---|---|---|---|---|---|
| Notes: The average may not equal the average of the components due to independent rounding. NA = Not Available. | ||||||||
| Weekly Average | $3.12 | $3.14 | $3.18 | $3.12 | $3.10 | $3.10 | $3.10 | $3.14 |
Source: Nebraska Energy Office, Lincoln, NE.
This report was updated
on October 16, 2007.
Typically, there is one week between updates.