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Economy in Brief

Gasoline Prices Dipped Last Week, Up 6.2% in July
by Tom Moeller July 26, 2005

In the US, the average price for unleaded regular gasoline dipped to $2.29 per gallon last week from $2.32 or more during the prior two weeks. Early month strength lifted the July average so far 6.2% above June. In 2005 gasoline prices have averaged $2.10 per gallon of regular grade versus $1.85 last year.

The price of crude oil also has fallen of late with a barrel of West Texas Intermediate crude yesterday at $56.01. Earlier in the month crude oil prices briefly touched $61.29/bbl. and have averaged $58.60 in July versus $41.44 during 2004.

Wholesale natural gas prices held steady at $7.77/mmbtu (33.0% y/y) last week. The average price during July is up 7.2% versus June.

For the latest Short Term Energy Outlook from the US Department of Energy click here.

Energy Prices 07/25/05 12/31/04 Y/Y 2004 2003 2002
US Retail Gasoline, Regular ($/Gal.) $2.29 $1.79 20.2% $1.85 $1.56 $1.35
Domestic Spot Market Price: West Texas Intermediate ($/Barrel) $57.47 $41.78 40.7% $41.78 $32.78 $31.23
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