Recent Updates
- China: International Trade (Mar)
- China: GDP (Q1)
- Euro area: CSPP Holdings Detail (Q1)
- more updates...
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 January 22, 2020
Retail gasoline prices fell to $2.54 per gallon (+12.7% y/y) in the week ended January 20 from $2.57 per gallon in the previous week. Haver Analytics adjusts prices for seasonal variation. The seasonally adjusted gasoline price eased slightly to $2.76 per gallon, but remained higher than the $2.41 low early last year.
In the week ended January 17, the West Texas Intermediate crude oil price fell to $58.28 per barrel (+12.0% y/y) from $60.83 per barrel in the previous week. It was the lowest price since early in December. Yesterday, the price was little changed at $58.34 versus a recent peak of $63.27 on January 6. The price of Brent crude oil eased to an average of $64.48 per barrel (+5.8% y/y) from $66.61 in the previous week. The price was $64.87 yesterday.
The weekly average price of natural gas fell to $2.06/mmbtu (-41.0% y/y) in the week ended January 17 and reversed the prior week's increase. Prices slipped to $1.98/mmbtu yesterday.
In the four-weeks ending January 10, gasoline demand declined 0.9% y/y, while total petroleum product demand fell 1.0% y/y. Gasoline inventories improved 1.1% y/y and inventories of all petroleum products increased 0.6% y/y. Crude oil input to refineries fell 2.5% y/y in the past four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 01/20/20 | 01/13/20 | 01/06/20 | Y/Y % | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price, End of Period) | 2.54 | 2.57 | 2.58 | 12.7 | 2.57 | 2.27 | 2.47 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 58.28 | 60.83 | 61.75 | 12.0 | 56.91 | 64.95 | 50.87 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.06 | 2.10 | 2.07 | -41.0 | 2.57 | 3.18 | 2.99 |