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Economy in Brief

U.S. Energy Prices Are Fairly Stable W/W
by Tom Moeller  March 7, 2017

Regular gasoline prices of $2.34 per gallon (27.2% y/y) last week compared to $2.31 per gallon during the prior week. Prices remained lower than the 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The seasonally adjusted price eased to $2.35 per gallon from $2.37 in the prior week and was lower than the $2.71 January high.

WTI crude oil prices eased to $53.56 per barrel (+55.6% y/y) last week from $54.02 in the prior week. Yesterday, prices were $53.20 per barrel. Brent crude oil prices were fairly stable at  $56.20 per barrel last week, moving to $56.03 per barrel yesterday.

Natural gas prices slipped to $2.53/mmbtu last week (+61.6% y/y), then rose to $2.68 yesterday.

Last week, gasoline demand declined 6.2% y/y, while total petroleum product demand improved 0.9% y/y. Gasoline inventories notched 0.4% higher y/y, and inventories of all petroleum products increased 1.7% y/y. Crude oil input to refineries fell 1.0% 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 03/06/17 02/27/17 02/20/17 Y/Y % 2016 2015 2014
Retail Gasoline ($ per Gallon, Regular) 2.34 2.31 2.30 27.2 2.31 2.03 2.30
Light Sweet Crude Oil, WTI ($ per bbl.) 53.56 54.02 53.21 55.6 43.22 48.90 93.64
Natural Gas ($/mmbtu, LA, WSJ) 2.53 2.54 2.85 61.6 2.49 2.62 4.37
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