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Nebraska Gasoline and Diesel Prices

Motor Gasoline

Since the third week in September, the average retail price of gasoline in the state has dropped $1.91, or nearly 20 cents a week. This week, the state's average price is below the price at this time in 2004.

For the week of November 24, Nebraska's average gasoline price had dropped 16 cents from last week to $1.81, which was $1.34 lower than the price at this time last year. Weekly averages in the surveyed cities ranged from $1.72 in Omaha to $1.86 in Kearney and North Platte. As of November 21, the Midwest gasoline stock level was below the normal range with 48.8 million barrels.

Diesel Fuel

Since the third week in July, the average retail price of diesel fuel in the state has dropped $2.08, or roughly ten cents a week. This week, the state's average price is below the price at this time in 2006.

The average price of diesel fuel in the state had decreased 12 cents to $2.68. According to the weekly price report, this week's state average was 76 cents lower than the price at this time last year. Weekly averages in the surveyed cities ranged from $2.62 in Lincoln to $2.70 in Kearney. On the supply side, the Midwest distillate fuel inventory level was at the bottom boundary of the normal range with 19.6 million barrels of ultra-low sulfur diesel fuel and 3.8 million barrels of low sulfur diesel fuel as of November 21.

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.

This symbol indicates a rule of thumb follows.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.

Nebraska's weekly average gasoline price graphed for the years 2004, 2005, 2006, and through the current week in 2007.

Regular Unleaded Gasoline Prices for the Week of November 24, 2008

(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 $1.79 $1.74 $1.86 $1.80 $1.78 $1.86 $1.72 $1.81
Nebraska's weekly average diesel price graphed for the years 2004, 2005, 2006, 2007, and through the current week in 2008.

Diesel Prices for the Week of November 24, 2008

(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 $2.63 $2.65 $2.70 $2.62 $2.66 $2.65 $2.68 $2.68

Source: Nebraska Energy Office, Lincoln, NE.

This report was updated on December 8, 2008.
Typically, there is one week between updates.