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- US: Import & Export Prices, IP & Capacity Utilization (Jan), Monthly GDP (Nov)
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Economy in Brief
Import Prices Continue Their Decline; Both Oil and Nonoil Prices Move Lower
Import prices fell a greater-than-expected 0.5% during January (-1.7% year-on-year)...
Empire State Manufacturing Activity Improves Modestly
The Empire State Manufacturing Index of General Business Conditions rose to 8.8 during February...
U.S. Retail Sales Exhibit Extensive Weakness
Total retail sales declined 1.2% (+2.3% y/y) during December...
U.S. Producer Prices Decline; Core PPI Rises
The headline Final Demand Producer Price Index edged down 0.1% for the second consecutive month in January (+2.0% y/y)...
U.S. Initial Claims for Unemployment Insurance Edge Back Higher
Initial claims for unemployment insurance were 239,000 in the week ended February 9...
by Tom Moeller July 18, 2017
Regular gasoline prices fell to $2.28 per gallon last week (+2.2% y/y) from $2.30 in the prior week. They were down versus the high of $2.45 per gallon in late-April. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally adjusted gasoline price declined to $2.09 per gallon, and remained down from the high of $2.71 in early-January.
WTI crude oil prices rose to $45.51 per barrel last week (-0.2% y/y), but remained down from $53.18 in early-April. Prices rose to $46.02 yesterday. Brent crude oil prices fell to $47.79 per barrel last week then rebounded to $48.45 per barrel yesterday.
Natural gas prices improved to $2.95/mmbtu last week (6.5% y/y) and were $3.02 yesterday.
Last week, gasoline demand slipped 0.3% y/y, while total petroleum product demand improved 2.8% y/y. Gasoline inventories fell 1.8% y/y, while inventories of all petroleum products eased 1.6% y/y. Crude oil input to refineries increased 3.0% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 07/17/17 | 07/10/17 | 07/03/17 | Y/Y % | 2016 | 2015 | 2014 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.28 | 2.30 | 2.26 | 2.2 | 2.31 | 2.03 | 2.30 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 45.51 | 45.23 | 44.64 | -0.2 | 43.22 | 48.90 | 93.64 |
Natural Gas ($/mmbtu, LA, WSJ) | 2.95 | 2.89 | 2.98 | 6.5 | 2.49 | 2.62 | 4.37 |