Global| May 10 2005Gasoline Prices Ease
by:Tom Moeller
|in:Economy in Brief
Summary
In the US, the average price for unleaded regular gasoline eased to $2.19 per gallon last week, down for the fourth consecutive week and off 4.1% from the peak of $2.28. As of March, the price of gasoline had risen 83.3% versus the [...]
In the US, the average price for unleaded regular gasoline eased to $2.19 per gallon last week, down for the fourth consecutive week and off 4.1% from the peak of $2.28.
As of March, the price of gasoline had risen 83.3% versus the low in late 2001. Relative to non-energy prices in the CPI, gasoline prices rose 72.0% during the period.
Mitigating the economic impact of these gains is the 50% decline in the ratio of petroleum usage versus US real GDP during the last thirty years.
The price of oil also fell last week. West Texas Intermediate crude dropped to $52.04 per barrel versus the earlier high of $57.28.
Wholesale natural gas prices slipped to $6.56/mmbtu (+8.8% y/y), down 8.5% from the April average.
For the latest Short Term Energy Outlook from the US Department of Energy click here.
| Energy Prices | 05/09/05 | 12/31/04 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| US Retail Gasoline, Regular ($/Gal.) | $2.19 | $1.79 | 12.6% | $1.85 | $1.56 | $1.35 |
| Domestic Spot Market Price: West Texas Intermediate ($/Barrel) | $52.04 | $41.78 | 33.7% | $41.78 | $32.78 | $31.23 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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