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Economy in Brief

U.S. Gasoline Prices Remain Stable; Natural Gas Hits 2012 Low
by Tom Moeller  October 6, 2015

Gasoline prices at the pump remained unchanged last week at $2.32 per gallon (-29.7% y/y) but remained below $2.84 in mid-June. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price increased one penny w/w to $2.27 per gallon. The spot market gasoline price fell to $1.36 (-49.5% y/y). 

WTI crude oil costs edged down to $45.00 (-50.8% y/y) compared to $45.57 during the prior week, down from a $107.23 high in June 2014. Prices moved higher yesterday to $46.26 per barrel. The seasonally adjusted price, generated by Haver Analytics, eased to $43.60 last week. Brent crude oil prices fell w/w to $46.99 per barrel and rallied to $49.45 yesterday.

Natural gas prices declined last week to $2.45 per mmbtu (-39.4% y/y), the lowest price since June 2012, and were $2.32 yesterday.

Gasoline demand rose 4.3% y/y last week while demand for all petroleum products improved 1.5% y/y. Gasoline inventories increased 6.5% y/y and inventories of all petroleum products rose 9.4% y/y. Crude oil production (input to refineries) gained 0.4% 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 10/25/15 09/28/15 09/21/15 Y/Y% 2014 2013 2012
Retail Gasoline ($ per Gallon, Regular) 2.32 2.32 2.33 -29.7 2.30 3.33 3.30
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) 45.00 45.57 45.48 -50.8 93.64 97.96 94.20
Natural Gas ($/mmbtu, LA, WSJ) 2.45 2.57 2.68 -39.4 4.37 3.73 2.75
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