Recent Updates
- Israel: CPI (Jul), PPI (Jul), Average Housing Prices (Q2)
- Japan: NCI Economic Activity Index (Aug)
- US: NAHB/Wells Fargo Housing Market Index (Aug)
- Canada: Wholesale trade, MSIO (June)
- Pakistan: Foreign Currency Deposits and Utilization (JUL)
- more updates...
Economy in Brief
U.S. Empire State Manufacturing Index Plummets in August; Lowest Since May '20
The Empire State Manufacturing Index of General Business Conditions plunged to -31.3 in August...
U.S. Import and Export Prices Fall in July; Deepest Since April 2020
Import prices fell 1.4% m/m (8.8% y/y) in July...
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller January 3, 2018
Retail gasoline prices increased to $2.52 per gallon (6.0% y/y) last week, the highest level since late November. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. At $2.64 per gallon, the seasonally adjusted gasoline pump price also was the highest level in seven weeks.
WTI crude oil prices strengthened to $59.86 (11.7% y/y) per barrel last week, the highest level since June 2015. Prices rose further yesterday to $60.37 per barrel. Brent crude oil prices increased to $66.04 per barrel last week and were $66.65 per barrel yesterday.
Natural gas prices increased last week to $3.00/mmbtu (-18.3% y/y) and were $3.04 yesterday.
In the week ended December 22, gasoline demand rose 2.0% y/y, while total petroleum product demand strengthened 3.5% y/y. Gasoline inventories improved 0.5% y/y, while inventories of all petroleum products declined 6.1% y/y. Crude oil input to refineries improved 3.8% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 1/1/18 | 12/25/17 | 12/18/17 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon, Regular) | 2.52 | 2.47 | 2.45 | 6.0 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl.) | 59.86 | 57.87 | 57.18 | 11.7 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, WSJ) | 3.00 | 2.67 | 2.72 | -18.3 | 2.96 | 2.49 | 2.62 |