18.9 C
New York
Wednesday, April 24, 2024

Weekly Gasoline Price Update: Up 29 Cents in Four Weeks

Courtesy of Doug Short.

It’s time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny, Regular rose six cents and Premium five. Regular is now up 29 cents (14.1 percent) since its interim weekly low set four weeks ago.

According to GasBuddy.com, Hawaii has the highest average price at $3.03. The highest continental average price is in California at $2.95. Utah has the cheapest Regular at $1.93.

How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here’s a visual answer.

Click to View
Click for a larger image

The next chart is a weekly chart overlay of West Texas Light Crude, Brent Crude and unleaded gasoline end-of-day spot prices (GASO).

WTIC closed today back below 50 and off its 2015 interim glass ceiling around the 54 level.

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.

Click to View
Click for a larger image

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).

Click to View
Click for a larger image

Here are some additional commentaries related to gasoline prices:

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,326FansLike
396,312FollowersFollow
2,290SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x