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Economy in Brief

U.S. Gasoline Prices Hold Steady; Crude Oil Costs Move Up
by Tom Moeller  April 14, 2015

Gasoline prices remained stable last week at $2.41 cents per gallon, down by roughly 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 $2.33 per gallon.

For the week ended April 10, WTI crude oil prices rose to an average $51.78 per barrel (-49.6% y/y). Yesterday, prices held fairly steady at $51.91 per barrel. These prices compare to a June peak of $107.95. The seasonally adjusted price, generated by Haver Analytics, improved last week to $50.65 per barrel. Brent crude oil prices increased to $56.51 per barrel last week and were $57.14 yesterday.

Natural gas prices improved slightly to $2.63 (-42.8% y/y) per mmbtu during the week ended April 10. Prices slipped to $2.56 yesterday.

A supply-demand imbalance continues to put fuel prices under downward pressure. Gasoline inventories grew 9.3% y/y while inventories of all petroleum products increased 9.9% y/y. Gasoline demand improved 2.0% y/y as demand for all petroleum products rose 4.5% 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 04/13/15 04/06/15 03/30/15 Y/Y% 2014 2013 2012
Retail Gasoline ($ per Gallon, Regular) 2.41 2.41 2.45 -34.0 2.30 3.33 3.30
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) 51.78 48.95 48.68 -49.6 93.64 97.96 94.20
Natural Gas ($/mmbtu, LA, WSJ) 2.63 2.61 2.71 -42.8 4.37 3.73 2.7
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