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Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller August 20, 2019
The U.S. pump price for gasoline eased to $2.60 per gallon (-7.9% y/y) last week from the prior week's $2.62 per gallon. Prices have fallen for five consecutive weeks. Haver Analytics calculates a series which is adjusted for the seasonal variation in gasoline pump prices. The seasonally adjusted price fell to $2.52 per gallon from $2.61 in the prior week.
West Texas Intermediate crude oil prices of $55.32 per barrel (-16.4% y/y) in the week ended August 16 compared to $53.25 in the previous week. Yesterday, prices improved to $56.21 from $54.87 on Friday. Brent crude oil prices of $59.15 per barrel (-17.7% y/y) last week compared to an average $58.31 per barrel in the previous week. Yesterday, the price was $59.76 versus $58.73 on Friday.
The price of natural gas increased to $2.21 per mmbtu (-26.3% y/y) in the week ended August 16 from $2.11/mmbtu averaged in the previous week. Yesterday, the price of natural gas was $2.26/mmbtu versus $2.20/mmbtu on Friday.
For the four-weeks ending August 9, U.S. gasoline demand improved 0.6% y/y, while total petroleum product demand increased 3.7% y/y. U.S. gasoline inventories gained 0.3% y/y while inventories of all petroleum products rose 3.6% y/y. Crude oil input to U.S. refineries fell 3.7% y/y.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. More detail on prices, as well as the demand, production and inventory data, including regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 8/19/2019 | 8/12/2019 | 8/5/2019 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.60 | 2.62 | 2.69 | -7.9 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 55.32 | 53.25 | 56.62 | -16.4 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.21 | 2.11 | 2.24 | -26.3 | 3.15 | 2.96 | 2.49 |