- Retail Trade, Household Consumption (Feb), Population (Feb)
- Mauritius: PPI (Feb-Prelim)
- Business Sentiment Survey (Mar)
- Korea: Building Permits (Feb); Philippines: LFS (Q3); Thailand: PPI (Mar-Press)
- Japan: First Ten Days Trade (Mar), International Trade, Real Trade Indexes (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency
- 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 July 26, 2016
Regular gasoline prices declined to $2.18 per gallon last week (-20.5% y/y). Prices were down five cents from the week earlier and were 22 cents lower than early last month, according to the U.S. Department of Energy. Prices are lower versus a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price declined to $2.02 per gallon, the lowest level since mid-March.
WTI crude oil prices also moved lower to $44.75 last week (-9.2% y/y) from $45.58 in the prior week. They remained up, however, from February's daily low of $26.21 per barrel. Yesterday, prices eased to $43.13 per barrel. Brent crude oil prices declined w/w to $46.54 per barrel and were $44.74 yesterday.
Prices for natural gas were fairly steady w/w at $2.76 per mmbtu (-3.6% y/y), but they rose to $2.81 yesterday.
Last week, gasoline demand increased 1.3% y/y, while demand for all petroleum products gained 1.8% y/y. Gasoline inventories rose 11.4% y/y and inventories of all petroleum products increased a diminished 5.7% y/y. Crude oil production (input to refineries) eased 0.8% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||07/25/16||07/18/16||07/11/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.18||2.23||2.25||-20.5||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||44.75||45.58||46.17||-9.2||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.76||2.77||2.80||-3.6||2.62||4.37||3.73|