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Economy in Brief

Gasoline Prices Stable
by Tom Moeller October 31, 2006

The retail price for a gallon of regular unleaded gasoline rose a penny last week to an average $2.22 (-10.6% y/y) and prices have been roughly unchanged for the last three weeks following sharp declines during August and September.

The recently volatile spot market (NY harbor) price for a gallon of regular gasoline rose six cents to $1.61 versus and has been trending higher since an early October low of $1.47.

Oil prices fell sharply yesterday as WTI Crude fell to $59.37 (-0.7% y/y) but that was up versus the $58.83 averaged last week and $58.31 the week prior.

Natural gas prices eased yesterday but at $7.00 per mmbtu (-42.3% y/y) the Henry Hub price still was up from an average of $4.90 during September.

Making Sense of High Oil Prices from the Federal Reserve Bank of Dallas can be found here.

The latest Short-Term Energy Outlook from the U.S. Energy Information Administration is available here.

Weekly Energy Prices 10/30/06 10/23/06 Y/Y 2005 2004 2003
US Retail Gasoline Price, Regular $2.22 $2.21 -10.6% $2.27 $1.85 $1.56
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