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Weekly Gasoline Price Update: Regular and Premium Up Two Cents

Summary:
It's time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium gained about two cents each. WTIC ended today at .37, up .23 from the previous week. According to GasBuddy.com, Hawaii has the highest average price for Regular at .87 and Los Angeles,CA is averaging .94. South Carolina has the cheapest at .93. 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 closed today at 48.37 a barrel. 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).

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It's time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium gained about two cents each. WTIC ended today at $48.37, up $2.23 from the previous week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $2.87 and Los Angeles,CA is averaging $2.94. South Carolina has the cheapest 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.

Weekly Gasoline Price Update: Regular and Premium Up Two Cents

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

Weekly Gasoline Price Update: Regular and Premium Up Two Cents

In this monthly chart, WTIC closed today at 48.37 a barrel.

Weekly Gasoline Price Update: Regular and Premium Up Two Cents

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.

Weekly Gasoline Price Update: Regular and Premium Up Two Cents

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).

Weekly Gasoline Price Update: Regular and Premium Up Two Cents

Here are some additional commentaries related to gasoline prices:

Jill Mislinski
Jill has been working with Advisor Perspectives since 2012 and is currently their Research Director as part of Doug Short’s team. Her background is in mathematics and physics and she holds a Master of Science in Physical Science with a concentration in physics and astronomy from the University of Chicago.

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