Recent Updates
- Jamaica: CPI (Jul)
- Israel: CPI (Jul), PPI (Jul), Average Housing Prices (Q2)
- Japan: NCI Economic Activity Index (Aug)
- US: NAHB/Wells Fargo Housing Market Index (Aug)
- Canada: Wholesale trade, MSIO (June)
- more updates...
Economy in Brief
U.S. Empire State Manufacturing Index Plummets in August; Lowest Since May '20
The Empire State Manufacturing Index of General Business Conditions plunged to -31.3 in August...
Japan's GDP Accelerates
Real GDP in Japan rose by 2.2% at an annual rate in the second quarter of 2022...
U.S. Import and Export Prices Fall in July; Deepest Since April 2020
Import prices fell 1.4% m/m (8.8% y/y) in July...
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller January 30, 2018
Retail gasoline prices rose to $2.61 per gallon (13.5% y/y) last week from $2.57 per gallon. It was the highest level since mid-September. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. Since prices typically weaken this time of year, the seasonally-adjusted price increased to an even greater degree to $2.86 per gallon, the highest level since December 2014.
WTI crude oil prices strengthened to $65.07 per barrel (22.8% y/y) last week following the prior week's uptick to $63.78 per barrel. It was the highest cost since early-December 2014. Prices rose yesterday to $65.56 per barrel. Brent crude oil prices increased to $70.04 per barrel last week and slipped to $68.41 yesterday.
Natural gas prices declined to $3.43/mmbtu (+4.8% y/y), but improved to $3.56/mmbtu yesterday.
In the week ended January 19, gasoline demand strengthened 5.4% y/y, while total petroleum product demand increased 8.1% y/y. Gasoline inventories declined 3.6% y/y, while inventories of all petroleum products declined 8.3% y/y. Crude oil input to refineries improved 3.0% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 01/29/18 | 01/22/18 | 1/15/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.61 | 2.57 | 2.56 | 13.5 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 65.07 | 63.78 | 63.25 | 22.8 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, WSJ) | 3.43 | 3.88 | 3.22 | 4.8 | 2.96 | 2.49 | 2.62 |