Global| May 09 2003Gasoline Prices Fell Further
by:Tom Moeller
|in:Economy in Brief
Summary
Retail gasoline prices continued the recent decline last week to an average of $1.51 per gallon. The decline since the peak of $1.73 in mid-March totaled 12.4%. Crude oil prices during the two month period fell sharply. The price of [...]
Retail gasoline prices continued the recent decline last week to an average of $1.51 per gallon. The decline since the peak of $1.73 in mid-March totaled 12.4%.
Crude oil prices during the two month period fell sharply. The price of West Texas Intermediate crude averaged $25.73 per barrel last week (-3.4% y/y) but prices very recently seem to have stabilized.
Wholesale natural gas prices averaged $5.26/mmbtu last week, down from the cold-weather spike over $12.00 in late February. Recent natural gas prices were roughly double last year's level, however, in the Consumer Price Index the price of piped gas & electricity was up about 10% y/y through March.
For a discussion of residential natural gas prices by the US Department of Energy click here.
For the latest Short Term Energy Outlook from the US Department of Energy click here.
| US Retail Gasoline Prices | 05/05/03 | 12/30/02 | Y/Y | 2002 | 2001 | 2000 |
|---|---|---|---|---|---|---|
| All Formulations ($/Gal.) | $1.51 | $1.44 | 8.5% | $1.34 | $1.42 | $1.48 |
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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