Courtesy of Doug Short
Here is my weekly gasoline chart update from Department of Energy data with an overlay of West Texas Crude (WTIC). Gasoline at the pump declined for the second consecutive week: regular and premium are both down 1.4%. Year-to-date, the average price for regular has risen 74 cents, down 17 cents from the interim high three weeks ago. Meanwhile, WTIC is 9.6% off its interim high of 113.94 on April 29th.
As I write this, GasBuddy.com shows 6 states (and DC) with the average price of regular above $4. That’s the same number as last week.
The price increases in crude oil and gasoline were reflected in the latest Consumer Price Index data for February and more recently in Personal Consumption Expenditures. For additional perspective on how energy prices are factored into the Consumer Price Index, 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).
