Recent Updates
- Global Supply Chain Pressure Index (Mar, Apr)
- US: Job Openings and Labor Turnover Survey by State (Mar)
- US: New Residential Construction (Apr)
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- more updates...
Economy in Brief
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
U.S. Industrial Production Much Stronger than Expected in April
The increase in manufacturing output in April was once again led by motor vehicle and parts production...
U.S. Retail Sales Posted Solid Rise in April
Notwithstanding falling real incomes and declining confidence measures, consumer spending posted a solid increase...
U.S. Home Builder Index Took a Steep Drop in May
This is the fifth straight month that builder sentiment has declined...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
"Core" GDP Suggests Economy Gained Momentum in Q1:2022
by Tom Moeller June 26, 2018
Retail gasoline prices declined to $2.83 per gallon last week (+23.8% y/y) from $2.88 per gallon during the prior week. Prices have fallen for four consecutive weeks. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price was little changed at $2.72 per gallon, down versus its peak of $2.90 early in February.
West Texas Intermediate crude oil prices were fairly steady w/w at an average of $66.26 (53.6% y/y) per barrel last week. Prices remained lower than the $71.31 high in mid-May. Yesterday, prices strengthened to $68.08 per barrel. Brent crude oil prices declined last week to an average of $74.68 per barrel and were $74.69 yesterday.
Natural gas prices were unchanged at an average of $2.95/mmbtu last week (3.1% y/y) and were $2.93 yesterday.
In the four-weeks ending June 15, gasoline demand eased 0.9% y/y, while total petroleum product demand improved 0.9% y/y. Gasoline inventories slipped 0.8% y/y, while inventories of all petroleum products declined 8.2% y/y. Crude oil input to refineries rose 0.9% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 06/25/18 | 06/18/18 | 06/11/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price) | 2.83 | 2.88 | 2.91 | 23.8 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 66.26 | 66.20 | 65.35 | 53.6 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.95 | 2.95 | 2.88 | 3.1 | 2.96 | 2.49 | 2.62 |