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Economy in Brief

U.S. Gasoline Prices Move Down Again
by Tom Moeller  April 7, 2015

Gasoline prices eased another 4 cents last week to $2.41 cents per gallon, down by one-third versus a year ago. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price fell last week to $2.40 per gallon.

For the week ended April 3, WTI crude oil prices notched up to an average $48.95 per barrel (-51.3% y/y). Yesterday, prices strengthened to $52.14 per barrel. These prices compare to a June peak of $107.95. The seasonally adjusted price, generated by Haver Analytics, was fairly stable last week at $48.30 per barrel.

Natural gas prices declined to $2.61 (-41.2% y/y) per mmbtu during the week ended April 3. Prices held at $2.62 yesterday.

A supply-demand imbalance continues to put fuel prices under downward pressure. Gasoline inventories grew 6.3% y/y while inventories of all petroleum products increased 9.4% y/y. Gasoline demand improved 1.9% y/y while the demand for all petroleum products gained 2.7% y/y.

The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.

Weekly Energy Prices 04/06/15 03/30/15 03/23/15 Y/Y% 2014 2013 2012
Retail Gasoline ($ per Gallon, Regular) 2.41 2.45 2.46 -32.9 3.36 3.51 3.62
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) 48.95 48.68 44.39 -51.3 93.63 97.95 94.20
Natural Gas ($/mmbtu, LA, WSJ) 2.61 2.71 2.78 -41.2 4.37 3.73 2.7
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