Recent Updates
- UK: Gfk Consumer Confidence Barometer (Jan), Retail Sales (Dec)
- Japan: CPI, Checks and Bills Clearing (Dec)
- Malaysia: CPI (Dec)
- Malaysia: CPI by State (Dec)
- China: Foreign Exchange Settlement and Sales (Dec)
- more updates...
Economy in Brief
Philadelphia Fed Manufacturing Index Jumps in January
The Federal Reserve Bank of Philadelphia Factory Sector Business Conditions Index jumped to January to 26.5...
U.S. Initial Jobless Claims Ease, but Are Still High
Initial claims for unemployment insurance fell to 900,000 in the week ended January 16...
French Surveys Improve Despite Ongoing Virus Issues
The spread of the virus in Franc is still untamed...
U.S. Home Builder Sentiment Slips in January
The Composite Housing Market Index from the NAHB-Wells Fargo declined 3.5% m/m (+10.7% y/y) in January...
Decline in Refinancing Drags Down U.S. Mortgage Applications
The MBA Mortgage Loan Applications Index fell 1.9% w/w (+56.2% y/y) in the weekend January 15...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller August 8, 2017
Regular gasoline prices rose to $2.38 per gallon last week (10.6% y/y) from $2.35 in the prior week. They remained down, however, from 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 increased to $2.23 per gallon, but remained lower than the high of $2.71 in early-January.
WTI crude oil prices rose to $49.52 per barrel last week (21.3% y/y), but remained down from $53.18 in early-April. Prices were $49.39 yesterday. Brent crude oil prices increased to $52.23 per barrel last week, then held at $52.25 per barrel yesterday.
Natural gas prices declined to $2.78/mmbtu last week (-2.7% y/y) and were $2.75 yesterday.
Last week, gasoline demand was little changed y/y, while total petroleum product demand improved 1.4% y/y. Gasoline inventories fell 4.4% y/y, while inventories of all petroleum products declined 2.9% y/y. Crude oil input to refineries increased 3.2% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 08/07/17 | 07/31/17 | 07/24/17 | Y/Y % | 2016 | 2015 | 2014 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.38 | 2.35 | 2.31 | 10.6 | 2.31 | 2.03 | 2.30 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 49.52 | 48.30 | 46.42 | 21.3 | 43.22 | 48.90 | 93.64 |
Natural Gas ($/mmbtu, LA, WSJ) | 2.78 | 2.94 | 3.07 | -2.7 | 2.49 | 2.62 | 4.37 |