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Weekly Gasoline Update: Down Another 3 Cents

ByDoug Short
Published 11/05/2013, 01:10 AM
Updated 07/09/2023, 06:31 AM
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It's time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny, Regular and Premium are both down by three cents. Regular and Premium are 52 cents and 47 cents, respectively, off their interim highs in late February.

According to GasBuddy.com, Hawaii is the only state averaging above $4.00 per gallon. For the second week, no states are reporting average prices in the 3.70-4.00 range. Four states (Missouri, Oklahoma, Arkansas and Texas) are averaging under $3.00.

How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here's a visual answer.
Gasoline since 2000
The next chart is a weekly chart overlay of West Texas Intermediate Crude, Brent Crude and unleaded gasoline end-of-day spot prices (GASO). WTIC closed today at 94.45, down a whopping 4.08 from last Monday, that's the biggest weekly decline since April 15th.
WTIC
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).
CPI Headline Core since 2000
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).
Inflation since 2000
Here are some additional commentaries related to gasoline prices:

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