·
On average, retail gasoline prices last week held at the prior period's
level of $3.10 per gallon, according to the US Department of Energy
survey.
· Divided by consumer prices other than energy, these gasoline prices are just below the high reached in 1981.
· Yesterday, prices for spot WTI crude oil stood at $97.71 per barrel, down slightly from last week's average.
· In perhaps a favorable sign for home heating bills this season, natural gas prices continued the move sideways at the high end of the recent $6.5 - $7.5 per mmbtu range (-0.3% y/y).
· Gold prices continued to hover around the $800 per ounce level and the level surpassed the previous record price reached in early 1980.
· Oil Shocks and Price Stability from the Federal Reserve Bank of St. Louis is available here.