Nebraska Gasoline and Diesel Prices

Motor Gasoline

Guy Caruso, Administrator of the Energy Information Administration (EIA), projected that gas prices will continue to increase even if crude oil prices do not because refiners haven't passed the recent crude oil price increase on to gas consumers. Crude oil prices, which have been approaching the $100-a-barrel mark, have eased recently. But analysts expect the weak dollar, the approach of winter, and strong demand to keep prices afloat.

For the week of November 12, Nebraska's average gasoline price jumped nine cents to $3.20, which was 92 cents higher than the price at this time last year. Weekly a verages in the surveyed cities ranged from $3.16 in Columbus to $3.29 in North Platte. As of November 9, the Midwest gasoline stock level was below the normal range with 47.1 million barrels.

Diesel Fuel

This week the price of diesel fuel in the state jumped ten cents to $3.43. According to the weekly price report, this week's state average was 78 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.39 in Lincoln and Omaha to $3.45 in Kearney. On the supply side, the Midwest distillate fuel inventory level was at the upper boundary of the normal range with 19.5 million barrels of ultra-low sulfur diesel fuel and 5.6 million barrels of low sulfur diesel fuel as of November 9.

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.