Recent Updates
- Macao: Visitor Arrivals (Apr)
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Economy in Brief
UK Consumer Sentiment Hits Lowest Reading since 1996
(when the GFK survey began; also lowest reading 'ever')
Of these 13 readings eight of them declined on the month in May three of them improved and two of them were unchanged...
U.S. Existing Home Sales Continue to Fall in April as Houses Become Less Affordable
The combination of soaring home prices across the nation and rising interest rates is making homes less affordable...
U.S. Index of Leading Indicators Fell in April
Five of the index's components fell in April, one was unchanged and four increased...
U.S. Unemployment Claims Rose in the Latest Week
The state insured rates of unemployment in regular programs vary widely...
CBI Gauge in the UK Continues to Be Upbeat
The global economy has a lot of challenges...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and 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
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller November 14, 2012
Gasoline prices are being helped lower by reduced seasonal pressure. Last week, the pump price for a gallon of regular gasoline fell another four cents (+0.4%) to $3.45 per gallon. Since their September peak prices have fallen 43 cents per gallon. Haver Analytics constructs seasonal factors to account for usual volatility and the adjusted price fell one penny w/w to $3.64 per gallon. Since their peak last month prices are down 22 cents per gallon.
The demand for gasoline rose a minimal 0.2% y/y. Residual fuel oil needs, used for heating, fell 13.6% y/y and distillate demand dropped 15.3% y/y. Lending some support to prices was a minimal 0.9% y/y decline in gasoline inventories.
The price for a barrel of light sweet crude oil held roughly steady at $85.99 per barrel and yesterday slipped to $85.38. Brent crude oil prices inched up last week to $108.92 per barrel and were $109.08 yesterday.
Natural gas prices fell last week to $3.39 per mmbtu but yesterday bounced upward to $3.58.
The energy price data are reported by the U.S. Department of Energy and can be found in Haver's WEEKLY database. The daily figures are in DAILY and the gasoline demand figures are in OILWKLY.
Weekly Price | 11/12/12 | 11/05/12 | 10/29/12 | Y/Y% | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
Retail Regular Gasoline ($ per Gallon, Regular) | 3.45 | 3.49 | 3.57 | 0.4 | 3.52 | 2.78 | 2.35 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 85.99 | 85.88 | 86.69 | -11.3 | 95.14 | 79.51 | 61.39 |
Natural Gas ($/mmbtu) | 3.39 | 3.44 | 3.39 | -0.6 | 3.99 | 4.40 | 3.95 |