Nebraska Gasoline and Diesel Prices

Motor Gasoline

For the week of June 23, Nebraska's average gasoline price had fallen one cent from last week to $3.95, which was 91 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.91 in Omaha to $4.02 in North Platte. As of June 20, the Midwest gasoline stock level was below the normal range with 49.9 million barrels.

Diesel Fuel

The average price of diesel fuel in the state had decreased four cents to $4.62. According to the weekly price report, this week's state average was $1.72 higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $4.59 in Columbus and Grand Island to $4.67 in Kearney. On the supply side, the Midwest distillate fuel inventory level was above the normal range with 24.6 million barrels of ultra-low sulfur diesel fuel and 3.9 million barrels of low sulfur diesel fuel as of June 20.

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 June 30, 2008.
Typically, there is one week between updates.