Recent Updates
- US: Producer Price Indexes (Nov)
- Canada: IIP (Q3)
- Russia: Foreign Trade (Oct)
- North Macedonia: Tourism (Oct)
- Ireland: Business Credit and Deposits (Q3)
- more updates...
Economy in Brief
U.S. CPI Increase Led by Higher Energy Prices; Core Prices Rise Steadily
The Consumer Price Index increased 0.3% (2.1% y/y) during November...
U.S. Government Budget Deficit Increases
The U.S. Treasury Department reported that the federal government ran a larger-than-expected $208.8 billion budget deficit during November...
U.S. Mortgage Applications Increase; Rates Unchanged
The MBA Mortgage Loan Index rebounded 3.8% (53.8% y/y) in the week ending December 6...
Japan's PPI Ticks Higher in November Amid Curious Global Circumstances
Japan's PPI (domestic corporate goods price index) is up by 0.1% in November...
U.S. Small Business Optimism Strengthens
The NFIB reported that its Small Business Optimism Index rose 2.2% (-0.1% y/y) to 104.7 during November...
by Tom Moeller October 16, 2018
Gasoline prices slipped to an average $2.88 per gallon last week (+15.7% y/y), down two cents from the prior week. Prices have meandered sideways since May. Haver Analytics constructs factors to adjust for the marked seasonal variation in prices. The seasonally-adjusted gasoline price held steady at $2.85 per gallon.
West Texas Intermediate crude oil prices eased to $72.94 per barrel (+43.7% y/y) from its five-year high of $75.11. Yesterday, the price declined to $71.78. Brent crude oil prices declined to $83.05 (+47.7% y/y) per barrel last week from $85.44. The price was $80.91 yesterday.
Natural gas prices rose sharply to $3.34/mmbtu (14.3% y/y) last week. Prices were up from the low of $2.52 in February.
During the latest four weeks, gasoline demand decreased 2.6% y/y; total petroleum product demand rose 0.2% y/y. Gasoline inventories strengthened 6.7% y/y, but inventories of all petroleum products declined 2.4% y/y as residual fuel oil inventories fell 14.9% y/y. Crude oil input to refineries strengthened 4.9% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 10/15/18 | 10/08/18 | 10/01/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price) | 2.88 | 2.90 | 2.87 | 15.7 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 72.94 | 75.11 | 72.70 | 43.7 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 3.34 | 3.23 | 3.07 | 14.3 | 2.96 | 2.49 | 2.62 |