Recent Updates
- US: Wholesale Trade (Feb), Producer Prices (Mar)
- US: Producer Price Indexes by Commodity Detail (Mar)
- US: Producer Price Indexes by Industry Detail (Mar)
- Canada: Investment in Building Construction (Feb), Labor Force Survey (Mar)
- more updates...
Economy in Brief
U.S. Wholesale Inventories Post Strong February Gain; Sales Fall
Wholesale inventories increased 0.6% (2.0% y/y) during February...
U.S. Initial Unemployment Insurance Claims Unexpectedly Increase
Initial claims for unemployment insurance rose to 744,000 during the week ended April 3...
Total PMIs Gain Traction in March
The PMI readings for March show improvement again...
U.S. Consumer Credit Outstanding Bounces Back in February
Consumer credit outstanding surged $27.6 billion during February...
U.S. Trade Deficit Widens to Record during February
The U.S. trade deficit in goods and services widened to $71.1 during February...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller November 24, 2015
Gasoline prices at the pump fell last week to $2.09 per gallon, down 9 cents from the prior week. Prices were down 25.8% y/y, but remained slightly above the January low of $2.04. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price declined to $2.21 per gallon. The spot market gasoline price fell to $1.29 per gallon and roughly equaled the low set four weeks ago.
WTI crude oil costs declined to $40.82 (-45.8% y/y), roughly equaling the late-August low of $40.73. Prices reached $107.23 in June 2014. Prices improved yesterday to $41.75 per barrel. Brent crude oil prices fell w/w to $41.54 per barrel but recovered to $43.70 yesterday.
Natural gas prices increased last week to $2.12 per mmbtu (-51.0% y/y), the highest level in four weeks, and rose further to $2.14 yesterday.
Gasoline demand improved 2.0% y/y last week but demand for all petroleum products slipped 0.2% y/y. Gasoline inventories increased 4.7% y/y and inventories of all petroleum products rose 10.0% y/y. Crude oil production (input to refineries) increased 1.6% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 11/23/15 | 11/16/15 | 11/09/15 | Y/Y% | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.09 | 2.18 | 2.24 | -25.8 | 2.30 | 3.33 | 3.30 |
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 40.82 | 42.70 | 45.98 | -45.8 | 93.64 | 97.96 | 94.20 |
Natural Gas ($/mmbtu, LA, WSJ) | 2.12 | 2.07 | 2.02 | -51.0 | 4.37 | 3.73 | 2.75 |