- Japan: First Ten Days Trade (Mar), International Trade, Foreign Banks Foreign Banks in Japan (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency Assets, Liabilities, and Currency Flows (Feb); Australia: Flow of Funds (Q4), Job Vacancies (Q1)
- Korea: Building Permits (Feb); Philippines: LFS (Q3)
- US: IIP (Q4)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
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...
by Tom Moeller March 22, 2016
Regular gasoline prices rose, on average, last week to $2.01 per gallon (-18.3% y/y) from $1.96 in the prior week. It was the highest price since mid-January, 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 also rose to $2.01 per gallon. The N.Y. spot market gasoline price rose to $1.15 per gallon, up 7 cents from the February low.
WTI crude oil costs increased slightly to $38.32 per barrel last week (-13.7% y/y) from $37.84 in the prior week. Yesterday, prices jumped to $39.91 per barrel. Prices remained well below the peak of $113.93 in April 2011. Brent crude oil prices eased w/w to $40.27 per barrel, but recovered to $41.67 yesterday. The price was $27.73 in late January.
Prices for natural gas increased last week to $1.77 per mmbtu (-36.2% y/y), and were $1.76 yesterday.
Last week, gasoline demand increased 6.4% y/y, while demand for all petroleum products improved 1.9% y/y. Gasoline inventories rose 6.1% y/y, while inventories of all petroleum products gained 8.5% y/y. Crude oil production (input to refineries) increased 3.8% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||03/21/16||03/14/16||03/07/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.01||1.96||1.84||-18.3||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||38.32||37.84||34.45||-13.7||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||1.61||1.57||-41.4||2.62||4.37||3.7|