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Economy in Brief

Gasoline Prices Highest in Two Months
by Tom Moeller December 5, 2006

Pump prices for regular unleaded gasoline increased five cents last week to an average $2.30 per gallon after penny increases during both of the prior two weeks. The gains lifted the average price to its highest since the opening week of October.

The spot market (NY harbor) price for a gallon of regular gasoline slipped yesterday for the third straight day, but at $1.68 per gallon still reflected the hefty gains early last week.

Crude oil prices also fell yesterday but at $62.90 (5.0% y/y) the cost of a barrel of WTI was up from the $59.37 averaged in November and the $58.88 in October.

Seasonably cold temperatures also lifted natural gas prices to $7.91/mmbtu, the highest level since early August. The Natural Gas Distribution System can be found here.

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

Weekly Energy Prices 12/04/06 11/27/06 Y/Y 2005 2004 2003
US Retail Gasoline Price, Regular $2.30 $2.25 7.0% $2.27 $1.85 $1.56
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