Recent Updates
- China: GDP (Q1)
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- US: Consumer Sentiment (Apr-prelim), New Residential Constr (Mar)
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- more updates...
Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller September 15, 2015
Gasoline prices at the pump continued to fall last week and averaged $2.38 per gallon (-30.3% y/y). That was down 6 cents from a week earlier and below $2.84 in mid-June. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price fell 5 cents w/w to $2.56 per gallon. Spot market gasoline prices improved w/w to $1.50 per gallon (-44.9% y/y).
WTI crude oil costs eased to $45.16 per barrel for the week (-51.1% y/y), down from $107.23 in May 2014. As of yesterday, prices declined further to $44.00 per barrel. These prices compare to a June 2014 high of $107.95. The seasonally adjusted price, generated by Haver Analytics, declined last week to $42.64 per barrel. Brent crude oil prices declined w/w to $47.60 per barrel and were $47.38 yesterday.
Natural gas prices held steady last week at $2.71 per mmbtu (-30.5% y/y) and were $2.70 yesterday.
Gasoline demand rose 3.8% y/y last week while demand for all petroleum products rose 4.2% y/y. Gasoline inventories improved 1.0% y/y and inventories of all petroleum products increased 8.9% y/y. Crude oil production (input to refineries) grew 0.3% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 09/14/15 | 09/07/15 | 08/31/15 | Y/Y% | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.38 | 2.44 | 2.51 | -30.3 | 2.30 | 3.33 | 3.30 |
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 45.16 | 46.73 | 40.73 | -51.1 | 93.64 | 97.96 | 94.20 |
Natural Gas ($/mmbtu, LA, WSJ) | 2.71 | 2.69 | 2.68 | -30.5 | 4.37 | 3.73 | 2.7 |