·
The retail price for a gallon of regular gasoline fell ten cents
last week to $3.96 per gallon, according to the U.S. Department of
Energy survey. That added to a five cent decline during the prior week
and reduced prices to their lowest level since late May. For all grades
of gasoline the average price fell eleven cents to $4.01 per gallon.
· Yesterday, the spot market price for a gallon of regular gasoline fell to $2.91 per gallon versus last week's average of $2.98. That was down from the high two weeks ago above $3.40.
· Weekly
gasoline prices can be found in Haver's WEEKLY database, daily
prices are in the DAILY database.
· According to the U.S. Department of Energy, though the demand for gasoline was unchanged last week from the prior period, gasoline demand during the latest four weeks fell 3.2% from a year earlier. That y/y decline nearly equaled the decline in gasoline demand three years ago when Hurricane Katrina struck and it limited gasoline supplies.
· The DOE figures are available in Haver's OILWKLY database.
· The price for a barrel of West Texas Intermediate crude oil also declined last week by nine dollars per barrel to an average $126.14, down from $142.46 at the beginning of the month. Yesterday, the price for a barrel of crude was $122.19.
· Prices for natural gas slipped for a third week to an average $9.93 per mmbtu (72.3% y/y).
· Budget of the United States Government: Browse Fiscal Year 2009 here.