Recent Updates
- US: Wholesale Trade (Feb), Producer Prices (Mar)
- US: Producer Price Indexes by Commodity Detail (Mar)
- US: Producer Price Indexes by Industry Detail (Mar)
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- more updates...
Economy in Brief
U.S. Wholesale Inventories Post Strong February Gain; Sales Fall
Wholesale inventories increased 0.6% (2.0% y/y) during February...
U.S. Initial Unemployment Insurance Claims Unexpectedly Increase
Initial claims for unemployment insurance rose to 744,000 during the week ended April 3...
Total PMIs Gain Traction in March
The PMI readings for March show improvement again...
U.S. Consumer Credit Outstanding Bounces Back in February
Consumer credit outstanding surged $27.6 billion during February...
U.S. Trade Deficit Widens to Record during February
The U.S. trade deficit in goods and services widened to $71.1 during February...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller October 16, 2019
In the week ended October 14, the U.S. pump price for gasoline eased to $2.63 per gallon (-8.7% y/y) from $2.65 the previous week. Haver Analytics adjusts these price figures for seasonal variation. The seasonally adjusted price held steady at $2.54 per gallon.
In the week ended October 11, the price of West Texas Intermediate crude oil was little changed w/w at $53.25 per barrel (-27.0% y/y). It remained down sharply versus the weekly high of $75.11 roughly one year ago. Yesterday, the price was $52.81 per barrel. The price of Brent crude oil edged higher to $58.93 per barrel (-28.5% y/y) from $58.35 the previous week. Yesterday, the price was $58.69.
The price of natural gas declined to $2.29 per mmbtu (-30.6% y/y) in the week ended October 11 from $2.33 per mmbtu in the previous week. It was the lowest price since the end of August and below the $4.49 high reached in early December. Yesterday, the price edged up to $2.29.
For the four weeks ending October 4, U.S. gasoline demand rose 0.5% y/y while total petroleum product demand increased 3.0% y/y. U.S. gasoline inventories fell 3.1% y/y while inventories of all petroleum products increased 0.7% y/y. Crude oil input to U.S. refineries fell 2.8% y/y.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. More detail on prices, demand, production and inventories, including regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 10/14/19 | 10/07/19 | 9/30/19 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.63 | 2.65 | 2.64 | -8.7 | 2.27 | 2.47 | 2.31 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 53.25 | 53.12 | 56.95 | -27.0 | 64.95 | 50.87 | 43.22 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.29 | 2.33 | 2.52 | -30.6 | 3.18 | 2.99 | 2.51 |