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Economy in Brief

Gasoline Prices Up Another Penny
by Tom Moeller November 28, 2006

Regular unleaded gasoline prices at the pump rose a penny last week to an average $2.25 per gallon after the penny increase during the prior week. Average gas prices this month nevertheless fell two cents from the October average of $2.25 per gallon.

Yesterday, the spot market (NY harbor) price for a gallon of regular gasoline was $1.63, unchanged from the average during last week.

Crude oil prices yesterday of $60.33 (5.2% y/y) for a barrel of WTI were up from the $57.65 averaged last week.

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

How Resilient Is The Modern Economy to Energy Price Shocks? from the Federal Reserve Bank of Atlanta is available here.

Weekly Energy Prices 11/27/06 11/20/06 Y/Y 2005 2004 2003
US Retail Gasoline Price, Regular $2.25 $2.24 4.3% $2.27 $1.85 $1.56
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