- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller January 12, 2016
The pump price for a gallon of regular gasoline averaged $2.00 last week (-6.7% y/y) according to the U.S. Department of Energy. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price fell to $2.27 per gallon. The spot market gasoline price fell to $1.24 per gallon (-10.7% y/y) as of last week.
WTI crude oil costs also fell sharply. Prices averaged $34.64 per barrel last week (-29.0% y/y). Yesterday's price of $31.41 was down from the daily high of $113.93 in April 2011. Brent crude oil prices fell w/w to $35.17 per barrel (-30.9% y/y) and were $31.20 yesterday.
Natural gas prices rallied to $2.38 last week (-21.3% y/y) and were $2.53 yesterday.
Gasoline demand declined 3.6% y/y last week and demand for all petroleum products fell 2.5% y/y. Gasoline inventories fell 2.2% y/y last week, but inventories of all petroleum products rose 9.1% y/y. Crude oil production (input to refineries) increased 1.4% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||01/11/16||01/04/16||12/28/15||Y/Y%||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.00||2.03||2.03||-6.7||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||34.64||36.97||36.26||-29.0||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.38||2.24||1.63||-21.3||2.62||4.37||3.73|