Global| Apr 29 2008U.S. Gasoline Prices Rose Another Dime to $3.60 per Gallon
by:Tom Moeller
|in:Economy in Brief
Summary
The retail price for a gallon of regular gasoline rose another ten cents last week to $3.60 per gallon, according to the U.S. Department of Energy survey.Prices have now risen 55 cents (18.0%) since the end of last year. Spot market [...]
The retail price for a gallon of regular gasoline rose another ten cents last week to $3.60 per gallon, according to the U.S. Department of Energy survey.Prices have now risen 55 cents (18.0%) since the end of last year.
Spot market prices for gasoline may have reached a plateau this week. Yesterday's wholesale price for a gallon of non-oxygenated gasoline was $2.92 per gallon, equal to last week's average.
Natural gas prices, however, continued to surge. A jump yesterday in the wholesale price of natural gas to $11.04 per mmbtu followed last week's surge to an average $10.49/mmbtu.
Weekly gasoline prices can be found in Haver's WEEKLY database, daily prices are found in the DAILY database.Oil and the U.S. Macro economy: An Update and a Simple Forecasting Exercise is a working paper from the Federal Reserve Bank of St. Louis and it is available here.
| Weekly Prices | 04/28/08 | 04/21/08 | Y/Y | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| Retail Gasoline ($ per Gallon) | 3.60 | 3.51 | 21.3% | 2.80 | 2.57 | 2.27 |
| Light Sweet Crude Oil, WTI ($ per bbl.) | 119.21 | 114.41 | 82.9% | 94.00 | 61.11 | 58.16 |
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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