Recent Updates
- Spain: Producer Prices (Mar)
- Norway: Earnings, Government Balance Sheet (2017)
- Taiwan: Visitor Arrivals (Mar); China: Banking Assets and Liabilities, Central Government Operations, Government Revenue and Expenditures (Mar), Approved Investment Fund (Apr); Thailand: Auto Sales Press, Nonperforming Loans and Loans Outstanding, Debt Service Payment (Mar); Malaysia: Retail Pump Prices (Apr)
- UK: Public Sector Finance (Q1), Healthcare Expenditure (2016)
- more updates...
Economy in Brief
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
Italian Confidence Backtracks But Remains High-Valued As It Is for France and Germany
From Q1 2008 to date, Italian GDP actually has failed to grow and has declined by 5.8%...
U.S. Existing Home Sales & Prices Rise Again
The NAR reported that sales of existing homes increased 1.1% during March (-1.2% y/y) to 5.600 million units (AR)...
by Tom Moeller January 9, 2007
Unleaded gasoline prices at the pump fell three cents last week to an average $2.31 per gallon after a penny decline during the prior week. Nevertheless, the average price for gasoline in January is up to $2.32 from the December average of $2.31 and the November average of $2.23 per gallon.
Further relief from higher retail gasoline prices may be signaled by declines in the spot market (NY harbor) price for a gallon of regular gasoline which have totaled twenty cents over the last two days.
Warmer weather also has helped crude oil prices lower. Yesterday, the spot price for WTI crude settled at $57.83 (-8.9% y/y), down four dollars from the December average of $61.94.
Warm temperatures also have pushed natural gas prices lower to $5.53 per mmbtu but a recent forecast of colder temps raised futures to $8.57
The latest Short-Term Energy Outlook from the U.S. Energy Information Administration is available here.
Recycling Petrodollars from the Federal Reserve Bank of New York Can be found here.
Weekly Energy Prices | 01/08/07 | 01/01/07 | Y/Y | 2006 | 2005 | 2004 |
---|---|---|---|---|---|---|
US Retail Gasoline Price, Regular | $2.31 | $2.33 | -0.9% | $2.57 | $2.27 | $1.85 |