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Economy in Brief

U.S. Gasoline Price Stable at $4.08 per Gallon
by Tom Moeller June 24, 2008

Last week, the retail price for a gallon of regular gasoline remained even with the prior week's level of $4.08 per gallon, according to the U.S. Department of Energy survey. For all grades of gasoline the average price also remained even w/w at an average $4.13 per gallon.

Yesterday, the spot market price for a gallon of regular gasoline continued about stable with last week's level at $3.30 per gallon.

Weekly gasoline prices can be found in Haver's WEEKLY database, daily prices are in the DAILY database.

According to the U.S. Department of Energy the increase in gasoline prices, along with the slowdown in economic growth, have lowered the demand for gasoline during the latest four weeks by 2.4% from a year earlier.

The DOE figures are available in Haver's OILWKLY database.

During all of last week, the price of a barrel of WTI crude oil dipped slightly to an average of $134.37 but yesterday the price moved higher $136.00.

Weekly Prices 06/23/08 06/16/08 Y/Y 2007 2006 2005
Retail Regular Gasoline ($ per Gallon) 4.08 4.08 36.8% 2.80 2.57 2.27
Light Sweet Crude Oil, WTI  ($ per bbl.) 134.37 134.73 95.7% 72.25 66.12 56.60
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