The price of Regular and Premium are down two and three cents each, respectively, from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.66 and Oklahoma has the cheapest at $2.16. The WTIC end of day spot price closed at 60.21, up 2.0% from last week and a 24% increase since the beginning of the year.
How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here's a visual answer.
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The next chart is a monthly chart overlay of West Texas Light Crude, Brent Crude, and unleaded gasoline end-of-day spot prices (GASO).
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In this monthly chart, the WTIC end of day spot price closed at 60.21, up 2.0% from last Monday and a 24% increase since the beginning of the year.
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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).
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The chart below offers a comparison of the broader aggregate category of energy inflation since 2000, based on categories within the Consumer Price Index (commentary here).
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