Nebraska Gasoline and Diesel Prices

Motor Gasoline

For the week of January 14, Nebraska's average gasoline price fell nine cents to $3.05, which was 92 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.00 in Norfolk to $3.05 in Lincoln. As of January 11, the Midwest gasoline stock level was just below the bottom boundary of the normal range with 51.1 million barrels.

Diesel Fuel

This week the price of diesel fuel in the state had decreased five cents to $3.38. According to the weekly price report, this week's state average was 82 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.29 in North Platte to $3.41 in Norfolk. On the supply side, the Midwest distillate fuel inventory level was in the bottom half of the normal range with 21.7 million barrels of ultra-low sulfur diesel fuel and 5.8 million barrels of low sulfur diesel fuel as of January 11.

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.

Source: Nebraska Energy Office, Lincoln, NE.

This report was updated on January 24, 2008.
Typically, there is one week between updates.