Global| Nov 22 2016U.S. Energy Prices Mixed in Latest Week
Summary
Energy product prices were mixed last week. Regular gasoline prices edged down 3 cents per gallon to $2.155 (+2.9% y/y), their lowest level since mid-August. Prices remained down versus a 2014 high of $3.71 per gallon. Haver Analytics [...]
Energy product prices were mixed last week. Regular gasoline prices edged down 3 cents per gallon to $2.155 (+2.9% y/y), their lowest level since mid-August. Prices remained down versus a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in these pump prices. The adjusted price last week was virtually unchanged at $2.29 per gallon.
WTI crude oil prices last week reversed much of their prior week's decline, as they rose to $45.17 a barrel (+11.2% y/y) from $44.64 the week before. Yesterday, prices moved on upward, reaching $47.49. Brent crude oil prices climbed from $45.73 per barrel in the week ended November 11 to $46.18 last week, then rose somewhat more yesterday to $46.86.
Natural gas prices rose to $2.43/mmbtu last week (+14.6% y/y), exactly reversing the prior week's decline. These prices have clearly stopped their recent four-week fall, and yesterday reached $2.80.
Last week, gasoline demand rose 3.4% y/y, while demand for all petroleum products went down 0.6% y/y. Gasoline inventories rose 3.5% y/y, and inventories of all petroleum products increased 3.4% y/y. Crude oil input to refineries eased 0.2% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
| Weekly Energy Prices | 11/21/16 | 11/14/16 | 11/07/16 | Y/Y % | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Retail Gasoline ($ per Gallon, Regular) | 2.155 | 2.184 | 2.233 | 2.9 | 2.03 | 2.30 | 3.33 |
| Light Sweet Crude Oil, WTI ($ per bbl., WSJ) | 45.17 | 44.63 | 45.51 | 11.2 | 48.90 | 93.64 | 97.96 |
| Natural Gas ($/mmbtu, LA, WSJ) | 2.43 | 2.20 | 2.43 | 14.6 | 2.62 | 4.37 | 3.73 |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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