Recent Updates
- Global Supply Chain Pressure Index (Mar, Apr)
- US: Job Openings and Labor Turnover Survey by State (Mar)
- US: New Residential Construction (Apr)
- Canada: CPI (Apr)
- Japan: NCI Economic Activity Index (May)
- more updates...
Economy in Brief
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...
U.S. Empire State Manufacturing Index Declines in May
The Empire State Manufacturing Index of General Business Conditions dropped thirty-six points...
Surging Imports Send the EMU Trade Scene Deeper into Deficit
The trade balance for the Euro Area fell sharply to 17.5 billion euros in March...
U.S. Import Prices Hold Steady While Export Prices Rise in April
Import prices held steady m/m (+12.0% y/y) in April...
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 January 8, 2019
Gasoline prices fell to $2.24 per gallon this past week (-11.3% y/y) from $2.27 during the prior week. Haver Analytics constructs factors to adjust for the marked seasonal variation in prices. The seasonally-adjusted gasoline price fell to $2.35 per gallon from $2.37.
West Texas Intermediate crude oil prices improved last week to an average of $47.06 per barrel (-23.3% y/y) after falling to $44.50, the lowest price since June 2017. Yesterday, prices were $50.51 per barrel. Brent crude oil prices improved last week to an average $59.97 per barrel (-13.0% y/y) up from $55.28 during the prior week. Yesterday, prices were $59.03 per barrel.
Natural gas prices declined last week to an average $2.92/mmbtu (-48.9% y/y) from an average $3.26 during the prior week. The price was $2.80 on Friday.
During the latest four weeks, gasoline demand declined 1.1% y/y; total petroleum product demand rose 1.6% y/y. Gasoline inventories increased 2.9% y/y, but inventories of all petroleum products were flat y/y. Crude oil input to refineries rose 2.0% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 01/07/19 | 12/31/18 | 12/24/18 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, EOP) | 2.24 | 2.27 | 2.32 | -11.3 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 47.06 | 44.50 | 46.88 | -23.3 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.92 | 3.26 | 3.73 | -48.9 | 3.18 | 2.99 | 2.51 |