Crude oil prices have risen $6.50-$9.20 per barrel in less than ten days while refined products have advanced by nearly 18 cents per gallon over the same time period. Analysts believe a significant correction is due for the entire energy complex. Meanwhile, Nebraska's retail gasoline price fell 2 cents from last week to $2.07 with metro prices ranging from $1.99 in Columbus to $2.08 in Grand Island. This week's state average was 2 cents higher than the price at this time last year. As of May 27, the Midwest gasoline stock level was in the normal range at 51.8 million barrels.
The state average retail diesel price did not change from last week and remained at $2.18 per gallon with metro prices ranging from $2.12 in Lincoln to $2.20 in North Platte. According to the weekly price report, this week's state average is 39 cents higher than the price at this time last year. The Midwest distillate fuel inventory level was below the normal range as of May 27.
An archive of this report and historical weekly prices are available.