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Economy in Brief
U.S. Mortgage Applications Continue to Weaken
The MBA Loan Applications Index fell 1.2% (-54.5% y/y) in the week ended May 20...
German Climate Reading Continues to Skid Toward the Abyss
Germany's GfK consumer climate reading improved ever so slightly in June...
U.S. New Home Sales Plunge in April as Prices Jump
The new home sales market is unraveling...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $4.59 per gallon in the week ended May 23...
S&P Flash PMIs Are Mixed in May As Manufacturing Erodes Slowly
Among the early reporting countries in Europe and Japan, the S&P PMI readings for May tilt toward weakness...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
by Tom Moeller October 16, 2012
The pump price for a gallon of regular gasoline fell three cents last week to $3.82. Haver Analytics constructs seasonal factors to account for usual volatility and the adjusted price rose one penny to $3.86 per gallon, the highest level since early-April.
The price for a barrel of light sweet crude oil improved last week to $91.38 per barrel. Yesterday, the cost of crude was $91.86 per barrel. Prices peaked at $113.93 in April, 2011. Haver's seasonally adjusted crude oil price per barrel increased last week to $90.42. Brent crude firmed further last week to $114.96 per barrel and rose further to $116.18 yesterday.
Natural gas prices rose last week to $3.26 per mmbtu, a ten month high.
The demand for gasoline fell 3.3% y/y. The demand for residual fuel oil, used for heating, fell 22.3% y/y and distillate demand was off 3.5% y/y. Inventories of crude oil and petroleum products increased 1.3% y/y. That comparison was improved from the 5.0% y/y decline this past fall.
The energy price data are reported by the U.S. Department of Energy and can be found in Haver's WEEKLY database. The daily figures are in DAILY and the gasoline demand figures are in OILWKLY.
Weekly Price | 10/15/12 | 10/08/12 | 10/01/12 | Y/Y% | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
Retail Regular Gasoline ($ per Gallon, Regular) | 3.82 | 3.85 | 3.80 | 9.9 | 3.52 | 2.78 | 2.35 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 91.38 | 90.82 | 91.46 | 6.8 | 95.14 | 79.51 | 61.39 |
Natural Gas ($/mmbtu) | 3.26 | 3.21 | 2.93 | -6.8 | 3.99 | 4.40 | 3.95 |