Nebraska Gasoline and Diesel Prices
The average price of gasoline started the year at the same level as it did in 2008. The average price of diesel fuel was very close to the 2008 price level. Some analysts are predicting that the price of crude oil will go into the triple digits this year. If so, gasoline and diesel prices could possibly continue as they did in 2008.
Motor Gasoline
For the week of January 3, 2011, Nebraska's average gasoline price had risen 2 cents from the last report to $3.10, which was 42 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.07 in Columbus to $3.21 in Kearney. As of December 31, total inventory of all grades of gasoline in the Midwest region was below the normal range.
Diesel Fuel
The average price of diesel fuel in the state had increased 2 cents from the last report to $3.32. According to the weekly price report, this week's state average was 54 cents higher than the price at this time last year. Weekly averages in the surveyed cities ranged from $3.28 in Omaha to $3.31 in Columbus, Lincoln, Norfolk, and North Platte. On the supply side, the Midwest distillate fuel inventory level was in the normal range with 27.8 million barrels of ultra-low sulfur diesel fuel and 1.8 million barrels of low sulfur diesel fuel as of December 31.
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 | $3.07 | $3.11 | $3.21 | $3.14 | $3.15 | $3.16 | $3.09 | $3.10 |
| 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 | $3.31 | $3.29 | $3.29 | $3.31 | $3.31 | $3.31 | $3.28 | $3.32 |
Source: Nebraska Energy Office, Lincoln, NE.
This report was updated on January 7, 2011.
Typically, there is one week between updates.