Recent Updates
- Mexico: Trade (Dec-Advanced Release)
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Economy in Brief
U.S. Durable Goods Orders' December Gain Disappoints
Manufacturers' orders for durable goods increased 0.2% during December (1.4% y/y)...
U.S. Mortgage Applications Tumble
The MBA Mortgage Loan Applications Index fell 4.1% w/w (+39.7% y/y) in the weekend January 22...
German Consumer Confidence in February Is Projected Much Lower
The forward-looking GfK consumer confidence/climate gauge for February has stumbled for the fourth month in a row...
U.S. Consumer Confidence Recovers During January
The Conference Board Consumer Confidence Index increased 2.5% (-31.5% y/y) to 89.3 during January...
U.S. FHFA House Price Index Rose Further in November
The FHFA House Price Index increased 1.0% m/m in November...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller January 9, 2018
Retail gasoline prices were unchanged at $2.52 per gallon (5.6% y/y) last week at the highest level since late November. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The price edged up to $2.65 per gallon from $2.64.
WTI crude oil prices rose to $61.36 (15.0% y/y) per barrel last week, the highest level since December 2014. Prices held steady yesterday. Brent crude oil prices increased to $67.81 per barrel last week and rose further to $68.48 per barrel yesterday.
Natural gas prices surged last week to $5.21/mmbtu (55.6% y/y) but declined to $2.87/mmbtu yesterday.
In the week ended December 29, gasoline demand rose 2.1% y/y, while total petroleum product demand strengthened 5.0% y/y. Gasoline inventories declined 1.0% y/y, while inventories of all petroleum products declined 6.3% y/y. Crude oil input to refineries improved 4.0% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 1/8/18 | 1/1/18 | 12/25/17 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.52 | 2.52 | 2.47 | 5.6 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 61.36 | 59.87 | 57.87 | 15.0 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, WSJ) | 5.21 | 3.00 | 2.67 | 55.61 | 2.96 | 2.49 | 2.62 |