by Bill McBride on 11/09/2014 09:52:00 PM
Sunday, November 09, 2014
It seems like I'm posting a link to an article like this every week, from Reuters: U.S. gasoline prices fell 13 cents in past 2 weeks-Lundberg
The average price of a gallon of gasoline in the United States dropped 13 cents in the past two weeks to its cheapest in nearly four years, according to the latest Lundberg survey released on Sunday.Lower gasoline prices should give a boost to retailers (ex-gasoline).
Gasoline prices fell to $2.94 per gallon of regular grade gasoline, its lowest level since December 2010, according to the survey conducted on Nov. 7.
• At 10:00 AM ET, the Fed will release the new monthly Labor Market Conditions Index (LMCI).
• Schedule for Week of November 9th
• Employment: Party Like It's 1999!
From CNBC: Pre-Market Data and Bloomberg futures: currently the S&P futures are unchanged and DOW futures are up slightly (fair value).
Oil prices were down over the last week with WTI futures at $78.98 per barrel and Brent at $83.87 per barrel. A year ago, WTI was at $95, and Brent was at $105 - so prices are down around 20% year-over-year.
Below is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are around $2.91 per gallon (down about 30 cents from a year ago). If you click on "show crude oil prices", the graph displays oil prices for WTI, not Brent; gasoline prices in most of the U.S. are impacted more by Brent prices.
|Orange County Historical Gas Price Charts Provided by GasBuddy.com|
Posted by Bill McBride on 11/09/2014 09:52:00 PM