The Energy Information Administration reports that the U.S. average price for regular gasoline fell for the fourth week in a row, dropping less than a penny to reach $2.65 per gallon, which was still 73 cents above last year. The West Coast average (Alaska, Arizona, California, Hawaii, Nevada, Oregon, and Washington) dropped almost 2 cents to $2.90 per gallon and the price in California decreased more than a penny to $2.96 per gallon.
     Diesel prices also dropped for the fourth consecutive week, with the national average falling more than one cent to $2.77 per gallon, which was still 55 cents above a year ago. West Coast prices decreased almost two cents to $2.86 per gallon, while the average in California slipped three cents to $2.92 per gallon.
     In the news, persistent blizzards in the eastern United States kept drivers off the road and kept the pressure off of gasoline prices. The storms did little to raise heating oil prices, however, as inventories for distillates, the fuel category including heating oil and diesel, are still high. 
    Last Friday's crude oil price drop to below $70 per barrel was not repeated this week, but early week advances to $75-$76 bbl also could not be sustained, and domestic crude oil closed at $74.15, down $1.15/bbl for the day but up $2.94/bbl from last Friday.

Chris Nobles
Commercial Fueling
Nella Oil Company