 |
WTI Crude •7 hours | 59.04 | -0.94 | -1.57% |
|
Brent Crude •7 hours | 66.75 | -0.92 | -1.36% |
|
Natural Gas •7 hours | 2.767 | -0.060 | -2.12% |
|
Mars US •7 hours | 64.54 | -1.34 | -2.03% |
 |
Opec Basket •2 days | 67.78 | +0.24 | +0.36% |
|
Urals •24 hours | 64.74 | -1.10 | -1.67% |
|
Louisiana Light •2 days | 66.48 | -1.54 | -2.26% |
|
Marine •24 hours | 67.59 | -0.52 | -0.76% |
|
Murban •24 hours | 68.61 | -0.86 | -1.24% |
|
Iran Heavy •24 hours | 58.85 | -1.66 | -2.74% |
|
Basra Light •24 hours | 69.16 | -0.87 | -1.24% |
|
Saharan Blend •24 hours | 65.82 | -1.81 | -2.68% |
|
Bonny Light •24 hours | 67.09 | -1.63 | -2.37% |
|
Canadian Crude Index •6 hours | 48.29 | +0.00 | +0.00% |
|
Western Canadian Select •7 hours | 49.23 | -0.50 | -1.01% |
|
Canadian Condensate •28 days | 56.73 | -0.25 | -0.44% |
|
Premium Synthetic •7 hours | 60.63 | -0.25 | -0.41% |
|
Sweet Crude •7 hours | 54.73 | -0.25 | -0.45% |
|
Peace Sour •7 hours | 51.98 | -0.25 | -0.48% |
|
Louisiana Light •2 days | 66.48 | -1.54 | -2.26% |
|
Domestic Swt. @ Cushing •24 hours | 55.50 | -1.00 | -1.77% |
|
Giddings •24 hours | 49.25 | -1.00 | -1.99% |
|
ANS West Coast •2 days | 69.24 | +0.94 | +1.38% |
|
West Texas Sour •24 hours | 52.99 | -0.94 | -1.74% |
|
Eagle Ford •24 hours | 56.94 | -0.94 | -1.62% |
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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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