- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
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...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller February 9, 2016
Gasoline prices continued to decline last week and remained at the lowest level since January 2009. The pump price for a gallon of regular gasoline fell to an average $1.76 (-19.7% y/y), down from $1.82 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 $1.95 per gallon. The spot market gasoline price fell to $1.00 per gallon (-36.5% y/y) as of last week.
WTI crude oil costs eased to $31.28 per barrel last week (-38.2% y/y). Yesterday's price of $29.69 was well below the peak of $113.93 in April 2011. Brent crude oil prices rose w/w to $34.10 per barrel. Yesterday's price of $33.19 dropped from Friday's high of $34.11.
Prices for natural gas fell last week to $2.08 per mmbtu (-21.3% y/y), but improved to $2.22 yesterday.
Last week, gasoline demand declined 0.9% y/y but demand for all petroleum products rose 0.3% y/y. Gasoline inventories improved 5.7% y/y, while inventories of all petroleum products gained 8.9% y/y. Crude oil production (input to refineries) increased 3.7% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||02/08/16||02/01/16||01 /25/16||Y/Y%||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||1.76||1.82||1.86||-19.7||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||31.28||31.81||29.16||-38.2||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.08||2.20||2.20||-21.3||2.62||4.37||3.73|