Recent Updates
- **EIA releases, including WPSR, are delayed by the source**
- US: New Residential Sales (May)
- Canada: Payroll Employment, Earnings, & Hours (Apr)
- Italy: Non-EU International Trade (May)
- Mexico: Economic Activity (Apr), Construction (Apr)
- more updates...
Economy in Brief
Italian Consumer Confidence Remains Hammered Down
Italy's consumer confidence fell month-to-month...
U.S. Current Account Deficit Deepens to Record in Q1'22
The U.S. current account deficit deepened to $291.4 billion during Q1'22...
Kansas City Fed Manufacturing Index Declines Further in June But Remains Positive
The Kansas City Fed reported that its manufacturing sector business activity index fell to 12 in June...
U.S. Unemployment Claims Edged Down
Initial claims for unemployment insurance filed in the week ended June 18 declined by 2,000 to 229,000...
U.S. Energy Prices Reverse Earlier Gains
Retail gasoline prices surged to $5.01 per gallon (63.1% y/y)...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller October 10, 2018
Gasoline prices increased to $2.90 per gallon last week (15.9% y/y), up three cents from the prior week. Haver Analytics constructs factors to adjust for the marked seasonal variation in prices. The seasonally-adjusted gasoline price rose w/w to $2.85 per gallon from $2.80.
West Texas Intermediate crude oil prices strengthened last week to $75.12 per barrel (49.6% y/y), the highest level since November 2014. Yesterday, the price eased to $74.96. Brent crude oil prices increased to $85.52 (40.4% y/y) per barrel last week. The price was $85.16 yesterday.
Natural gas prices rose to $3.06/mmbtu (3.4% y/y) last week. The price was $3.13 on Monday.
During the latest four weeks, gasoline demand decreased 1.5% y/y; total petroleum product demand rose 1.1% y/y. Gasoline inventories strengthened 7.4% y/y, but inventories of all petroleum products declined 3.0% y/y as residual fuel oil inventories fell 23.5% y/y. Crude oil input to refineries strengthened 11.3% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 10/08/18 | 10/01/18 | 09/24/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price) | 2.90 | 2.87 | 2.84 | 15.9 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 75.12 | 72.70 | 70.29 | 49.6 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 3.06 | 3.03 | 2.93 | 3.4 | 2.99 | 2.51 | 2.64 |