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Gasoline Prices Continue To Edge Higher As We Head Toward Spring

Wednesday, March 8, 2017 4:17
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(Before It's News)

From Jill Mislinski: It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium are up three and two cents, respectively, from last week.

According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.04 and San Francisco, CA is the most expensive city, averaging $3.12. South Carolina has the cheapest at $2.04. The WTIC end of day spot price closed at 53.20, down 0.85 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 Gas Prices Since 2000

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

WTIC BRENT GASO

In this monthly chart, WTIC end of day spot price closed at 53.20, down 0.85 from this time last week.

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). For additional perspective on how energy prices are factored into the CPI, see What Inflation Means to You: Inside the Consumer Price Index.

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).

CPI Components

Here are some additional commentaries related to gasoline prices:

The United States Gasoline Fund, LP (NYSE:UGA) was unchanged in premarket trading Wednesday. Year-to-date, UGA has declined -13.22%, versus a 6.03% rise in the benchmark S&P 500 index during the same period.

UGA currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #70 of 121 ETFs in the Commodity ETFs category.


This article is brought to you courtesy of Advisor Perspectives.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)



Source: http://etfdailynews.com/2017/03/08/gasoline-prices-continue-to-edge-higher-as-we-head-toward-spring/

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