 |
WTI Crude •10 mins | 53.93 | +2.00 | +3.85% |
|
Brent Crude •10 mins | 62.42 | +1.48 | +2.43% |
 |
Natural Gas •10 mins | 2.321 | -0.052 | -2.19% |
|
Mars US •17 hours | 57.03 | -0.48 | -0.83% |
|
Opec Basket •1 day | 61.60 | +0.35 | +0.57% |
|
Urals •1 day | 58.10 | +0.35 | +0.61% |
|
Louisiana Light •1 day | 59.82 | -0.53 | -0.88% |
|
Marine •1 day | 60.73 | +0.77 | +1.28% |
|
Murban •1 day | 61.83 | +0.78 | +1.28% |
|
Iran Heavy •1 day | 54.90 | -0.74 | -1.33% |
|
Basra Light •1 day | 61.94 | -1.05 | -1.67% |
|
Saharan Blend •1 day | 61.33 | -0.89 | -1.43% |
|
Bonny Light •1 day | 62.37 | -0.64 | -1.02% |
|
Canadian Crude Index •15 mins | 37.17 | +1.98 | +5.63% |
|
Western Canadian Select •1 day | 40.93 | -0.58 | -1.40% |
|
Canadian Condensate •1 day | 47.58 | -0.58 | -1.20% |
|
Premium Synthetic •1 day | 52.38 | -0.58 | -1.10% |
|
Sweet Crude •1 day | 46.93 | -0.58 | -1.22% |
|
Peace Sour •1 day | 45.93 | -0.58 | -1.25% |
|
Louisiana Light •1 day | 59.82 | -0.53 | -0.88% |
|
Domestic Swt. @ Cushing •1 day | 48.50 | -0.50 | -1.02% |
|
Giddings •1 day | 42.25 | -0.50 | -1.17% |
|
ANS West Coast •4 days | 59.45 | -2.66 | -4.28% |
|
West Texas Sour •1 day | 45.88 | -0.58 | -1.25% |
|
Eagle Ford •1 day | 49.83 | -0.58 | -1.15% |
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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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