Global| Jan 20 2005Gasoline Prices Firmer
by:Tom Moeller
|in:Economy in Brief
Summary
The average price for unleaded regular gasoline firmed to $1.82 per gallon last week, up four cents from the low during the first week of January. Through December, the price of gasoline relative to the nonenergy Consumer Price Index [...]
The average price for unleaded regular gasoline firmed to $1.82 per gallon last week, up four cents from the low during the first week of January.
Through December, the price of gasoline relative to the nonenergy Consumer Price Index had fallen 5.6% from the high in October. The relative gasoline price also was down nearly one third from the high averaged during 1981. However, the 58% increase in the "real" price of gasoline during the last three years rivals the increase into early 1981.
The price of oil also firmed with the price of West Texas Intermediate crude last week rising to $48.39 from the lows below $42 last month. This week, crude oil prices have firmed another dollar.
Wholesale natural gas prices have moderated some. At $6.02/mmbtu last week, natural gas prices were down from last year's weekly highs over $7.00 but remained up from year ago levels.
For the latest Short Term Energy Outlook from the US Department of Energy click here.
Hard "Core" Inflation from the Federal Reserve Bank of St. Louis can be found here.
| Energy Prices | 01/17/05 | 12/31/04 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| US Retail Gasoline, Regular ($/Gal.) | $1.82 | $1.79 | 14.0% | $1.85 | $1.56 | $1.35 |
| Domestic Spot Market Price: West Texas Intermediate ($/Barrel) | $48.39 | $41.78 | 35.2% | $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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