- New Zealand: International Trade (Feb)
- Korea: Consumer Survey Index (Mar); Philippines: Public Finance (Jan)
- Weekly: **Initial Claims Data Revisions Completed**
- Euro area: Flash Consumer Confidence Indicator (Mar)
- US: New Residential Sales (Feb)
- Belgium: Business Survey (Mar)
- Uruguay: GDP (Q4)
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
U.S. Existing Home Sales Fall to Five-Month Low; Inventory Remains Tight
Sales of existing single-family homes declined 3.7% (+5.4% y/y) to 5.480 million units (AR) during February...
U.S. FHFA House Price Index Momentum Diminishes
The FHFA U.S. house price index remained unchanged during January following a 0.4% December increase ...
Japan's Trade Trends Turn Sharply Higher
Japan has logged its largest current account surplus since April 2010...
by Tom Moeller September 13, 2016
Regular gasoline prices fell to $2.20 per gallon (-7.3% y/y) last week following an easing to $2.23 during the week prior, according to the U.S. Department of Energy. Prices remained down 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 was steady at $2.12 per gallon.
WTI crude oil costs increased slightly to $45.96 per barrel last week (1.8% y/y) from $45.11 per barrel. Prices have been trending sideways since May and remained up from February's daily low of $26.21 per barrel. Yesterday, prices were $46.29 per barrel. Brent crude oil prices rose to $47.51 per barrel last week, then were $47.82 yesterday.
Prices for natural gas eased to $2.85 per mmbtu (+5.2% y/y) last week, but increased to $2.99 yesterday, the highest level since May 2015.
Last week, gasoline demand increased 3.2% y/y, while demand for all petroleum products improved 2.4% y/y. Gasoline inventories rose 6.2% y/y and inventories of all petroleum products increased 5.0% y/y. Crude oil production (input to refineries) gained 1.8% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||09/12/16||09/05/16||08/29/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.20||2.23||2.24||-7.3||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||45.96||45.11||47.22||1.8||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.85||2.91||2.79||5.2||2.62||4.37||3.73|