- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller February 2, 2016
Gasoline prices continued to decline last week and reached a nine year low. The pump price for a gallon of regular gasoline fell to an average $1.82 (-11.9% y/y), down from $1.86 in the prior week, according to the U.S. Department of Energy. The price compares to a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price fell to $2.07 per gallon. The spot market gasoline price fell to $1.05 per gallon (-22.5% y/y) as of last week.
WTI crude oil costs rose slightly and averaged $31.80 per barrel last week (-29.8% y/y). Yesterday's price of $31.62 was down from Friday's high of $33.62, and remained below the peak of $113.93 in April 2011. Brent crude oil prices also rose w/w to $33.22 per barrel versus the prior week's low of $29.37. Yesterday's price of $34.12 was down from Friday's high of $35.83.
Natural gas prices held steady last week at $2.20 per mmbtu (-23.4% y/y). Prices were $2.18 yesterday.
Gasoline demand declined 2.5% y/y last week and demand for all petroleum products fell 1.7% y/y. Gasoline inventories improved 4.2% y/y, while inventories of all petroleum products rose 9.1% y/y. Crude oil production (input to refineries) increased 3.8% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||02/01/16||01 /25/16||01/18/16||Y/Y%||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||1.82||1.86||1.91||-11.9||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||31.80||29.16||30.59||-29.8||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.20||2.20||2.32||-23.4||2.62||4.37||3.73|