 |
WTI Crude •13 hours | 65.21 | +0.33 | +0.51% |
|
Brent Crude •13 hours | 71.83 | +0.40 | +0.56% |
|
Natural Gas •13 hours | 2.949 | +0.036 | +1.24% |
|
Mars US •13 hours | 66.71 | +0.45 | +0.68% |
 |
Opec Basket •2 days | 69.47 | -0.30 | -0.43% |
|
Urals •2 days | 68.76 | -1.38 | -1.97% |
|
Louisiana Light •2 days | 71.19 | +0.62 | +0.88% |
|
Marine •1 day | 70.09 | +0.76 | +1.10% |
|
Murban •1 day | 72.35 | +0.46 | +0.64% |
|
Iran Heavy •1 day | 66.25 | +0.59 | +0.90% |
|
Basra Light •1 day | 71.43 | +1.34 | +1.91% |
|
Saharan Blend •1 day | 70.22 | +0.67 | +0.96% |
|
Bonny Light •1 day | 72.33 | +0.45 | +0.63% |
|
Canadian Crude Index •12 hours | 39.94 | +0.00 | +0.00% |
|
Western Canadian Select •2 days | 36.16 | +0.45 | +1.26% |
|
Canadian Condensate •2 days | 61.66 | +0.45 | +0.74% |
|
Premium Synthetic •2 days | 65.61 | +0.45 | +0.69% |
|
Sweet Crude •2 days | 55.21 | +0.45 | +0.82% |
|
Peace Sour •2 days | 46.46 | +0.45 | +0.98% |
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Louisiana Light •2 days | 71.19 | +0.62 | +0.88% |
|
Domestic Swt. @ Cushing •2 days | 62.00 | +0.50 | +0.81% |
|
Giddings •2 days | 55.75 | +0.50 | +0.90% |
|
ANS West Coast •3 days | 68.05 | -4.59 | -6.32% |
|
West Texas Sour •2 days | 59.41 | +0.45 | +0.76% |
|
Eagle Ford •2 days | 63.36 | +0.45 | +0.72% |
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Gasoline Prices Continue to Fall as Oil Prices Drop
As part of the commodity sell-off, oil prices were down again today (the price of gold is irrelevant for the economy, but oil matters). According to Bloomberg, WTI was down to $87.62 per barrel, and Brent was down to $100.39 per barrel.
According to Gasbuddy.com (see graph at bottom), gasoline prices are down to a national average of $3.50 per gallon. Using the calculator from Professor Hamilton, and the current price of Brent crude oil, the national average should be around $3.35 per gallon. That is about 15 cents below the current level according to Gasbuddy.com, and I expect prices to fall further. The low for the year is in the $3.20s per gallon, and a year ago gasoline was at $3.90 per gallon.
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