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Economy in Brief
U.S. Mortgage Applications Decline as Interest Rates Continue to Increase
The MBA Mortgage Loan Applications Index declined 11.4%...
U.S. Consumer Confidence Increases in February
The Conference Board Consumer Confidence Index increased 2.7% (-31.1% y/y) to 91.3 during February...
U.S. FHFA House Price Index Continues to Rise Markedly
The Federal Housing Finance Agency (FHFA) House Price Index increased 1.1% m/m in December...
U.S. Energy Prices Surge as Texas Freeze Limits Supply
The price of regular gasoline strengthened to $2.63 per gallon (6.8% y/y) in the week ended February 22...
EMU HICP Makes First Year-on-Year Rise since July
The EMU headline rose by 0.8% in January, its first year-on-year gain in six months...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller June 22, 2005
The price of oil touched $59.37 on Monday then a barrel of West Texas Intermediate crude dropped back yesterday to $56.91. So far in 2005 the price of crude has averaged $52.75, up 26% versus last year's average.
In the US, the average price for unleaded regular gasoline rose to $2.16 per gallon last week versus an average of $2.13 during the prior five weeks. The high was $2.28 in early April.
Wholesale natural gas prices jumped to $7.28/mmbtu (15.6% y/y) last week. During only one week in early April was the price higher.
For the latest Short Term Energy Outlook from the US Department of Energy click here.
| Energy Prices | 06/21/05 | 12/31/04 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| US Retail Gasoline, Regular ($/Gal.) | $2.16 | $1.79 | 12.6% | $1.85 | $1.56 | $1.35 |
| Domestic Spot Market Price: West Texas Intermediate ($/Barrel) | $56.91 | $41.78 | 33.7% | $41.78 | $32.78 | $31.23 |
