Recent Updates
- US: Consumer Sentiment (Feb-final), Chicago PMI (Feb),Personal Income, Adv Trade & Inventories (Jan)
- US: Consumer Sentiment Detail (Feb-final)
- Canada: Industrial Product Prices (Jan)
- UK: Motor Vehicle Production (Jan)
- more updates...
Economy in Brief
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Goods Trade Deficit Widened Slightly in January
The advance estimate of the U.S. trade deficit in goods widened slightly to $83.74 billion in January..
Japan's Industrial Sector Mounts a Comeback
Japan's IP surged in January gaining 4.3% compared to December...
Aircraft Orders Boost U.S. Durable Goods Orders in January
Manufacturers' orders for durable goods increased a much larger-than-expected 3.4% m/m (4.5% y/y) in January...
Kansas City Fed Manufacturing Index Increases Again in February
The Kansas City Fed reported that its manufacturing sector business activity index rose to 24 in February...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller April 16, 2019
Retail gasoline prices jumped to $2.83 per gallon last week (2.9% y/y), the highest level since late-October 2018. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price rose to $2.82 per gallon, the highest level since mid-February of last year.
West Texas Intermediate crude oil prices increased to an average of $64.10 (-2.9% y/y) per barrel last week. Oil prices had plunged to an 18-month low of $44.55 at the end of last year. Yesterday, prices eased to $63.40 per barrel. Brent crude oil prices strengthened to an average of $71.13 per barrel last week and were $71.23 yesterday.
Natural gas prices nudged higher to an average of $2.72/mmbtu last week (0.3% y/y), but remained below the $3.28 high reached early last month. The price was $2.69 yesterday
In the four-weeks ending April 5, gasoline demand rose 1.3% y/y, while total petroleum product demand eased 0.8% y/y. Gasoline inventories decreased 4.1% y/y, while inventories of all petroleum products gained 1.4% y/y. Crude oil input to refineries fell 5.3% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 4/15/19 | 4/8/19 | 4/1/19 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.83 | 2.75 | 2.69 | 2.9 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 64.10 | 62.37 | 59.50 | -2.9 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.72 | 2.70 | 2.71 | 0.3 | 3.15 | 2.96 | 2.49 |