Weekly Gasoline Prices: Regular And Premium Jump

As of May 9, the price of Regular and Premium were up fifteen and thirteen cents each, respectively, from the previous week. According to GasBuddy.com, California has the highest average price for Regular at $5.81 and Georgia has the cheapest at $3.90. The WTIC end-of-day spot price closed at 103.09 and is down 2.0% from last week.

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, the WTIC end-of-day spot price closed at 105.17, up 6.7% from 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.

Consumer Price Index

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).

CPI Components

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Rick A. Schneider 2 years ago Member's comment

Pumps are up; but oil ETF's are dropping like flies? Makes sense.

gif