From CNBC: U.S. gasoline cheapest in nearly four years -Lundberg survey
The average price of U.S. retail gasoline dropped 18 cents in the past two weeks to the lowest level in nearly four years, driven by a steep drop in oil prices, according to the latest Lundberg survey released on Sunday.
Prices fell 18 cents to an average of $3.08 per gallon for regular grade gasoline, according to the fortnightly survey conducted on Oct. 24, the lowest price since Dec. 2010.
Monday:
• Early, the Black Knight August House Price Index report
• At 10:00 AM ET, the Pending Home Sales Index for September. The consensus is for a 0.8% increase in the index.
• At 10:30 AM, the Dallas Fed Manufacturing Survey for October.
• During the day (Monday or Tuesday): Q3 NMHC Apartment Tightness Index.
Weekend:
• Schedule for Week of October 26th
• FOMC: End of QE3, Shorter Statement
From CNBC: Pre-Market Data and Bloomberg futures: currently the S&P futures are up 3 and DOW futures are up about 35 (fair value).
Oil prices were down over the last week with WTI futures at $81.18 per barrel and Brent at $86.13 per barrel. A year ago, WTI was at $97, and Brent was at $109 – so prices are down close to 20% year-over-year.
Below is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are around $3.05 per gallon (down about 25 cents from a year ago). If you click on “show crude oil prices”, the graph displays oil prices for WTI, not Brent; gasoline prices in most of the U.S. are impacted more by Brent prices.
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| Orange County Historical Gas Price Charts Provided by GasBuddy.com |