Global| Oct 06 2015U.S. Gasoline Prices Remain Stable; Natural Gas Hits 2012 Low
by:Tom Moeller
|in:Economy in Brief
Summary
Gasoline prices at the pump remained unchanged last week at $2.32 per gallon (-29.7% y/y) but remained below $2.84 in mid-June. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally [...]
Gasoline prices at the pump remained unchanged last week at $2.32 per gallon (-29.7% y/y) but remained below $2.84 in mid-June. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices. The seasonally adjusted price increased one penny w/w to $2.27 per gallon. The spot market gasoline price fell to $1.36 (-49.5% y/y).
WTI crude oil costs edged down to $45.00 (-50.8% y/y) compared to $45.57 during the prior week, down from a $107.23 high in June 2014. Prices moved higher yesterday to $46.26 per barrel. The seasonally adjusted price, generated by Haver Analytics, eased to $43.60 last week. Brent crude oil prices fell w/w to $46.99 per barrel and rallied to $49.45 yesterday.
Natural gas prices declined last week to $2.45 per mmbtu (-39.4% y/y), the lowest price since June 2012, and were $2.32 yesterday.
Gasoline demand rose 4.3% y/y last week while demand for all petroleum products improved 1.5% y/y. Gasoline inventories increased 6.5% y/y and inventories of all petroleum products rose 9.4% y/y. Crude oil production (input to refineries) gained 0.4% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
| Weekly Energy Prices | 10/25/15 | 09/28/15 | 09/21/15 | Y/Y% | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Retail Gasoline ($ per Gallon, Regular) | 2.32 | 2.32 | 2.33 | -29.7 | 2.30 | 3.33 | 3.30 |
| Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 45.00 | 45.57 | 45.48 | -50.8 | 93.64 | 97.96 | 94.20 |
| Natural Gas ($/mmbtu, LA, WSJ) | 2.45 | 2.57 | 2.68 | -39.4 | 4.37 | 3.73 | 2.75 |
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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