Investing.com - Financial Markets Worldwide
🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Weekly Gasoline Update: Fourth Week of Price Increases

ByDoug Short
Published 01/18/2012, 12:16 AM
Updated 07/09/2023, 06:31 AM
CL
-
ICON
-

Here is my weekly gasoline chart update from Department of Energy data with an overlay of West Texas Crude (WTIC). Gasoline prices at the pump -- both regular and premium -- rose one cent over the past week, a tiny change, but the fourth consecutive week of price increases. Regular is now 14.5% off its 2011 interim high set in early May 2011. Premium is down 12.20. WTIC closed today at 100.87. It is 11.5% off its 2011 interim high, which also dates from early May 2011.

As the first chart below shows, the price of oil has risen significantly since the interim low in early October while gasoline prices had trended downward until the last four weeks. The increase in the price of oil has begun finding its way to the gasoline pump.

As I write this, GasBuddy.com shows two states, Alaska and Hawaii, with the average price of regular above $4.
Chart - 1
The next chart is an overlay of WTIC, Brent Crude and unleaded gasoline (GASO). Over the past year saw an increasing disconnect between WTIC and Brent Crude, but over the last quarter that spread has shrunk considerably. This will be interesting to watch over the months ahead.
Chart - 2
The price volatility in crude oil and gasoline have 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.
Chart - 3
The chart below offers a comparison of the broader aggregate category of energy inflation since 2000, based on categories within Consumer Price Index.
Chart - 4

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.