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Economy in Brief

U.S. Gasoline Prices Increase
by Tom Moeller  March 20, 2018

Retail gasoline prices rose to $2.60 per gallon last week (11.9% y/y), but remained below last month's high of $2.64 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price rose slightly to $2.64 per gallon.

WTI crude oil prices slipped to $61.31 per barrel last week (+27.1% y/y) compared to $61.66 in the prior week and last month's high of $65.22 per barrel. Prices rose to $62.06 per barrel yesterday. Brent crude oil prices fell to $64.14 per barrel last week and were $64.82 yesterday.

Natural gas prices of $2.69/mmbtu (-8.8% y/y) last week compared to $2.71/mmbtu during the prior week and were $2.77/mmbtu yesterday.

In the week ended March 9, gasoline demand increased 2.5% y/y, while total petroleum product demand improved 3.2% y/y. Gasoline inventories eased 0.6% y/y, while inventories of all petroleum products fell 8.5% y/y. Crude oil input to refineries improved 3.1% 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.

What Could Resurging U.S. Energy Production Mean for the U.S. Trade Deficit? from the Federal Reserve Bank of Dallas is available here.

Weekly Energy Prices 03/19/18 03/12/18 03/05/18 Y/Y % 2017 2016 2015
Retail Gasoline ($ per Gallon, Regular) 2.60 2.56 2.56 11.9 2.47 2.31 2.03
Light Sweet Crude Oil, WTI ($ per bbl.) 61.31 61.66 62.11 27.1 50.87 43.22 48.90
Natural Gas ($/mmbtu, LA, WSJ) 2.69 2.71 2.61 -8.8 2.96 2.49 2.62
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