It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium were down four and nine cents, respectively, from last week. According to GasBuddy.com, Alaska has the highest average price for Regular at $3.21 and San Francisco, CA is the most expensive city, averaging $3.28. Alabama has the cheapest at $2.22. The WTIC end of day spot price closed at 58.11, a 3.0% increase from this time last week.
How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here’s a visual answer.
The next chart is a monthly chart overlay of West Texas Light Crude, Brent Crude, and unleaded gasoline end-of-day spot prices (GASO).
In this monthly chart, WTIC end of day spot price closed at 58.11, up 3.0% from this time last week.
The volatility in crude oil and gasoline prices has been clearly reflected in recent years in both the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). For additional perspective on how energy prices are factored into the CPI, see What Inflation Means to You: Inside the Consumer Price Index.
The chart below offers a comparison of the broader aggregate category of energy inflation since 2000, based on categories within Consumer Price Index (commentary here).
Related Posts
AstraZeneca PLC Beats Earnings Estimates
Stock Market Sentiment Showing Strength On Twitter
Gemini allegedly suffers data breach; 5.7 million emails leaked- Agriculture Markets Report – Tuesday, March 13
Tesla Could Rise Above $400 Per Share In Next Few Months, Says Morgan Stanley- Crude Oil Price Falling, Is It Bearish?
Leave A Comment