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 Gerald D. Cohen July 10, 2018
Retail gasoline prices edged up to $2.86 per gallon last week (+24.4% year-on-year) from $2.84 per gallon during the prior week. Prices have ranged between $2.80 and $2.96 since the middle of April. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price was $2.77 per gallon, little changed since mid April.
West Texas Intermediate crude oil prices decreased to an average of $73.73 (+63.0% y/y) per barrel last week, from the three-and-a-half year high reached in late June. Yesterday, prices rose to $73.93 per barrel. Brent crude oil prices rose to an average of $76.16 per barrel last week and were $77.08 yesterday.
Natural gas prices decreased to an average of $2.86/mmbtu last week (-0.9% y/y) from $2.95/mmbtu and were $2.86 yesterday.
In the four-weeks ending June 29, gasoline demand increased 1.2% y/y, while total petroleum product demand gained 1.4% y/y. Gasoline inventories rose 1.0% y/y in the week ending June 29, while inventories of all petroleum products fell 7.6% y/y. Crude oil input to refineries was up 3.3% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 07/09/18 | 07/02/18 | 06/25/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price) | 2.86 | 2.84 | 2.83 | 24.4 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 73.73 | 74.03 | 66.32 | 63.0 | 50.83 | 43.16 | 48.90 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.86 | 2.95 | 2.95 | -0.9 | 2.96 | 2.49 | 2.62 |