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Economy in Brief
U.S. Consumer Credit Continues to Decline
Cautious spending breeds less credit usage...
German Orders Plunge in April
Germany's orders plunged in April, falling by 25.8% m/m...
U.S. Trade Deficit Deepens; Exports & Imports Fall by Record Amounts in April
The U.S. trade deficit in goods and services widened to $49.41 billion during April...
U.S. Productivity and Unit Labor Costs Revised Up for Q1'20
Output per hour revised up on weaker hours worked...
State & Pandemic Assistance Continuing Claims Total 32.5 Million
Initial jobless claims decreased to a still extremely-elevated 1.877 million in the week ending May 30...
Special Topics
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 |
