- 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 May 10, 2016
Regular gasoline prices eased to $2.22 per gallon last week (-17.5% y/y) after rising to $2.24 in the prior week, according to the U.S. Department of Energy. Prices remained near 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 fell to $2.09 per gallon. Spot market gasoline prices increased w/w to $1.54, and remained up from a low of $0.89 in early February.
WTI crude oil costs were fairly steady at $44.23 per barrel last week (-26.0% y/y) after increasing to $44.31 in the prior week. Yesterday, prices declined to $43.44 per barrel, and remained well below the peak of $113.93 in April 2011. Brent crude oil prices fell w/w to $45.19 per barrel, then eased also to $43.44 yesterday. The price was $27.73 in late January.
Prices for natural gas improved to $1.94 per mmbtu last week (-29.6% y/y), and rose further to $1.97 yesterday.
Last week, gasoline demand increased 5.8% y/y, while demand for all petroleum products also improved 5.8% y/y. Gasoline inventories rose 6.1% y/y, while inventories of all petroleum products gained 6.4% y/y. Crude oil production (input to refineries) declined 1.2% y/y during the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||05/09/16||05/02/16||4/25/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.22||2.24||2.16||-17.5||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||44.23||44.31||41.84||-26.0||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||1.94||1.91||1.90||-29.6||2.62||4.37||3.73|