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Economy in Brief

Gasoline, Crude Oil & Natural Gas Prices Down
by Tom Moeller August 31, 2004

The average price for unleaded regular gasoline fell to $1.87 per gallon last week, down 9.6% from the May peak of $2.06.

Spot crude oil prices also fell. The price of West Texas Intermediate crude fell to $42.28 yesterday versus the mid-August high of $48.70 per barrel.

"A Crude Crude Oil Calculation" from the Federal Reserve Bank of St. Louis is available here.

Wholesale natural gas prices also eased to $5.05/mmbtu (+7.5% y/y) versus the May high of $6.68.

For the latest Short Term Energy Outlook from the US Department of Energy click here.

Energy Prices 08/30/04 12/31/03 Y/Y 2003 2002 2001
US Retail Gasoline, Regular ($/Gal.) $1.87 $1.48 6.9% $1.56 $1.35 $1.42
Domestic Spot Market Price: West Texas Intermediate ($/Barrel) $42.28 $32.55 35.9% $32.78 $31.23 $19.38
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