Global| May 06 2008U.S. Gasoline Prices Stable at $3.61 per Gallon, WTI Crude Down
by:Tom Moeller
|in:Economy in Brief
Summary
The retail price for a gallon of regular gasoline was relatively stable last week. A penny rise to $3.61 per gallon, according to the U.S. Department of Energy survey, followed a ten cent increase during the last week of April.Prices [...]
The retail price for a gallon of regular gasoline was relatively stable last week. A penny rise to $3.61 per gallon, according to the U.S. Department of Energy survey, followed a ten cent increase during the last week of April.Prices have risen 56 cents (18.3%) since the end of last year.
Spot market prices for gasoline rose further yesterday. The wholesale price for a gallon of non-oxygenated gasoline was $2.94 per gallon, up eight cents from Friday and up ten cents from last week's average.
During all of last week, the price of a barrel of WTI crude oil fell nearly four dollars w/w to an average of $115.34. Yesterday, however, the price recovered sharply to $119.97. The record was reached during the third week of April prices reached $121.57.Natural gas prices also have move higher. Yesterday's wholesale price of natural gas at $10.88 per mmbtu was up from Friday's price and up from last week's average of $10.74/mmbtu.
Weekly gasoline prices can be found in Haver's WEEKLY database, daily prices are found in the DAILY database.Mortgage Delinquencies and Foreclosures are yesterday's remarks by Fed Chairman Ben S. Bernancke and they can be found here.
| Weekly Prices | 05/05/08 | 04/21/08 | Y/Y | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| Retail Gasoline ($ per Gallon) | 3.61 | 3.60 | 18.3% | 2.80 | 2.57 | 2.27 |
| Light Sweet Crude Oil, WTI ($ per bbl.) | 115.34 | 119.21 | 80.8% | 72.25 | 66.12 | 56.60 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
More Economy in Brief
