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Economy in Brief

U.S. Energy Prices Rise
by Tom Moeller  November 13, 2019

Retail gasoline prices edged higher to $2.62 per gallon last week (-2.6% y/y) from $2.61 in the previous week. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally-adjusted price rose to $2.60 per gallon, the highest level since the first week of August.

West Texas Intermediate crude oil prices rose to an average $56.82 (-7.7% y/y) per barrel last week from $55.24 during the prior week. Yesterday, prices were $56.80. Brent crude oil prices averaged $62.32 (-12.9% y/y) per barrel last week and were $61.98 yesterday.

Natural gas prices strengthened to $2.80/mmbtu last week (-21.8% y/y), the highest price since the fourth week of May. The price was $2.72/mmbtu yesterday.

In the four-weeks ending November 1, gasoline demand increased 2.7% y/y. Total petroleum product demand rose 2.4% y/y. Gasoline inventories decreased 4.7% y/y in the week ending November 1, while inventories of all petroleum products grew 0.6% y/y. Crude oil input to refineries fell 3.6% y/y in the last four weeks.

These data are reported by the U.S. Department of Energy and the National Climate Data Center. The price data can be found in Haver's WEEKLY and DAILY databases. Weekly U.S. National (Contiguous 48 States) temperature can be found in WEEKLY. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.

Weekly Energy Prices 11/11/19 11/04/19 10/28/19 Y/Y % 2018 2017 2016
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) 2.62 2.61 2.60 -2.6 2.27 2.47 2.31
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) 56.82 55.24 55.24 -7.7 64.95 50.87 43.22
Natural Gas ($/mmbtu, LA, Previous Week's Average) 2.80 2.62 2.25 -21.8 3.18 2.99 2.51
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