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Weekly Gasoline Price Update: Regular and Premium Down a Penny

Summary:
The price of Regular and Premium were both down a penny from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at .70 and San Francisco, CA is the most expensive city, averaging .74. South Carolina has the cheapest at .53. The WTIC end of day spot price closed at 67.20, a 2.6% decrease from this time last week.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 end of day spot price closed at 67.20, a 2.6% decrease from this time last week.

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The price of Regular and Premium were both down a penny from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.70 and San Francisco, CA is the most expensive city, averaging $3.74. South Carolina has the cheapest at $2.53. The WTIC end of day spot price closed at 67.20, a 2.6% decrease from this time last week.

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 Down a Penny

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 Down a Penny

In this monthly chart, WTIC end of day spot price closed at 67.20, a 2.6% decrease from this time last week.

Weekly Gasoline Price Update: Regular and Premium Down a Penny

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 Down a Penny

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 Down a Penny

Here are some additional commentaries related to gasoline prices:

Read more updates by Jill Mislinski  

Doug Short
My original dshort.com website was launched in February 2005 using a domain name based on my real name, Doug Short. I'm a first wave boomer with a Ph.D. in English from Duke and a lifelong interest in economics and finance. In 2011 my website was acquired by Advisor Perspectives.

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