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rom 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 unchanged from 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 68.91, a 2.0% increase from this time last week.
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).
Here are some additional commentaries related to gasoline prices:
- Weekly Heating Oil Update
- Gasoline Volume Sales, Demographics, and our Changing Culture
- ehicle Miles Driven as an Economic IndicatorV
The United States Oil Fund LP ETF (USO) rose $0.04 (+0.27%) in premarket trading Wednesday. Year-to-date, USO has gained 22.31%, versus a 9.45% rise in the benchmark S&P 500 index during the same period.
USO currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 109 ETFs in the Commodity ETFs category.
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