Recent Updates
- US: Consumer Sentiment (Jan-prelim), Mfg & Trade Inventories & Sales (Nov), IP & Capacity Utilization, Adv Retail Sales, Producer Prices (Dec)
- US: Industrial Production Detail (Dec)
- US: Producer Price Indexes by Commodity Detail (Dec)
- more updates...
Economy in Brief
Empire State Manufacturing Index Declines in January
The Empire State Manufacturing Index of General Business Conditions decreased to 3.5 in January...
U.S. Industrial Production Continues Recovery
Industrial production advanced 1.6% in December...
U.S. PPI Rose 0.3% in December
The Producer Price Index for final demand rose 0.3% (0.8% y/y) in December...
U.S. Business Inventories Accumulate during November as Sales Weaken
Total business inventories increased 0.5% during November (-3.2% y/y)...
The EMU Trade Surplus Stabilizes
Both exports and imports have been regaining momentum...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller July 3, 2018
Retail gasoline prices improved to $2.84 per gallon last week (25.8% y/y) from $2.83 per gallon during the prior week. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price rose to $2.76 per gallon, its highest level since early-last month.
West Texas Intermediate crude oil prices increased w/w to an average of $72.16 per barrel last week (61.6% y/y) from $66.35. It was the highest price since late-November of last year and up from $28.13 early in February 2016. Yesterday, prices strengthened further to $73.94 per barrel. Brent crude oil prices rose last week to an average of $76.68 and were $77.31 yesterday.
Natural gas prices held steady for a second week at an average of $2.95/mmbtu last week (-1.2% y/y) and were $2.87 yesterday.
In the four-weeks ending June 22, gasoline demand slipped 0.1% y/y, while total petroleum product demand increased 1.5% y/y. Gasoline inventories improved 0.1% y/y, while inventories of all petroleum products declined 8.4% y/y. Crude oil input to refineries rose 2.7% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 07/02/18 | 06/25/18 | 06/18/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price) | 2.84 | 2.83 | 2.88 | 25.8 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 72.16 | 66.35 | 66.20 | 61.6 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.95 | 2.95 | 2.95 | -1.2 | 2.96 | 2.49 | 2.62 |