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Economy in Brief

U.S. Gasoline Prices Rise; Crude Oil Slips
by Tom Moeller  February 14, 2017

Regular gasoline prices moved up to $2.31 per gallon (33.8% y/y) last week following a decline to $2.29 per gallon in the prior week. Prices peaked at $2.39 early last month and remained down from a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally adjusted price declined w/w to $2.50 per gallon from $2.56.

WTI crude oil prices eased to $52.88 per barrel (+88.0% y/y) last week from $53.22 in the prior week. Yesterday, prices were $52.93 per barrel. Brent crude oil prices eased to $55.48 per barrel last week, moving to $55.61 per barrel yesterday.

Natural gas prices eased to $3.01/mmbtu last week (+40.4% y/y). They fell to $2.91 yesterday.

Last week, gasoline demand declined 6.0% y/y, while total petroleum product demand was little changed y/y. Gasoline inventories remained unchanged y/y, and inventories of all petroleum products increased 2.1% y/y. Crude oil input to refineries rose 2.7% y/y in 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 02/13/17 02/06/17 01/30/17 Y/Y % 2016 2015 2014
Retail Gasoline ($ per Gallon, Regular) 2.31 2.29 2.30 33.8 2.31 2.03 2.30
Light Sweet Crude Oil, WTI ($ per bbl., WSJ) 52.88 53.32 52.97 88.0 43.22 48.90 93.64
Natural Gas ($/mmbtu, LA, WSJ) 3.01 3.08 3.27 40.4 2.49 2.62 4.37
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