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Economy in Brief

Gasoline Prices Firmed Further
by Tom Moeller February 21 2007

Unleaded gasoline prices at the pump rose for the third straight week to an average $2.30 per gallon. Since the late January low, prices have risen 13 cents (6.1%) but they are still well below the peaks of last year.

After rising with colder temperatures, fuel oil prices fell a nickel in the latest week to $1.64 per gallon (0.2% y/y) though natural gas prices rose further last week to $8.44 mmbtu (16.1% y/y).

Crude oil prices fell one dollar last week to $58.08 per barrel of WTI crude and have been trading plus or minus one dollar that level this week.

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

Weekly Energy Prices 02/19/07 02/12/07 Y/Y 2006 2005 2004
US Retail Gasoline Price, Regular $2.30 $2.24 2.5% $2.57 $2.27 $1.85
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