Recent Updates
- US: Consumer Sentiment (Feb-final), Chicago PMI (Feb),Personal Income, Adv Trade & Inventories (Jan)
- US: Consumer Sentiment Detail (Feb-final)
- Canada: Industrial Product Prices (Jan)
- UK: Motor Vehicle Production (Jan)
- more updates...
Economy in Brief
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Goods Trade Deficit Widened Slightly in January
The advance estimate of the U.S. trade deficit in goods widened slightly to $83.74 billion in January..
Japan's Industrial Sector Mounts a Comeback
Japan's IP surged in January gaining 4.3% compared to December...
Aircraft Orders Boost U.S. Durable Goods Orders in January
Manufacturers' orders for durable goods increased a much larger-than-expected 3.4% m/m (4.5% y/y) in January...
Kansas City Fed Manufacturing Index Increases Again in February
The Kansas City Fed reported that its manufacturing sector business activity index rose to 24 in February...
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 |