Crude oil and petroleum product prices are at or near record high levels. Nebraska's average retail price of gasoline increased 3 cents from last week to $2.01 with metro prices ranging from $1.94 in Columbus to $2.09 in North Platte. North Platte set a record high on Wednesday with $2.10 per gallon. This week Midwest gasoline stock levels fell just below the normal range.
Diesel prices were up throughout the country, with the Midwest region seeing the largest increase of 10.6 cents to reach $2.16 per gallon. Nebraska's metro diesel prices ranged from $2.10 in Columbus and Norfolk to $2.17 in Grand Island, Kearney, and North Platte resulting in the state average jumping another 7 cents to $2.16 per gallon. All seven of the metro areas set new record high levels this week although the state average only reached a historical high on Friday. California prices remain the highest at $2.39. Inventories across the nation are tight. Midwest distillate fuel inventories are at the bottom of the normal range for this time of year. Retail diesel prices continue to reflect not only the rise in crude oil prices, but also pressure from strong demand and high spot prices for heating oil.
An archive of this report and historical weekly prices are available.