- 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 May 3, 2016
Regular gasoline prices increased to $2.24 per gallon last week (-15.9% y/y) after rising to $2.16 in the prior week, according to the U.S. Department of Energy. Prices were at the highest level since October. The price compares to a low of $1.72 in February, but remained down from a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price rose to $2.13 per gallon. Spot market gasoline prices eased w/w to $1.45, but remained up from a low of $0.89 in early February.
WTI crude oil costs increased to $44.29 per barrel last week (-23.6% y/y) after increasing to $41.84 in the prior week. Yesterday, prices rose further to $44.78 per barrel, but remained well below the peak of $113.93 in April 2011. Brent crude oil prices increased w/w to $46.60 per barrel, then eased to $45.88 yesterday. The price was $27.73 in late January.
Prices for natural gas remained little changed at $1.91 per mmbtu last week (-25.6% y/y), and remained at $1.91 yesterday.
Last week, gasoline demand increased 5.6% y/y, while demand for all petroleum products improved 4.0% y/y. Gasoline inventories rose 6.1% y/y, while inventories of all petroleum products gained 6.8% y/y. Crude oil production (input to refineries) increased 0.2% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
Lower Oil Prices and U.S. Economic Activity from the Federal Reserve Bank of New York is available here.
|Weekly Energy Prices||05/02/16||4/25/16||04/18/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.24||2.16||2.14||-15.9||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||44.29||41.84||41.25||-23.6||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||1.91||1.90||1.89||-25.6||2.62||4.37||3.73|