Gas prices barreling toward 5-year high

Gas prices jumped again last week and are 20 cents higher than they were just two weeks ago. According to ABC News, some experts predict the cost of gas to continue rising through August and potentially reaching a 5-year high, mostly because of tensions in Egypt, which controls a big portion of the world's crude oil.

Cheese

Average block cheese prices rose 2 cents last week on the Chicago Mercantile, averaging $1.69, from $$1.67 the week prior.

Cheese averaged $1.90 in the spring. It remains significantly lower than the $2.10 average at the end of 2012.

Cheese markets closed at $1.67 Monday and Tuesday, $1.69 Wednesday, $1.70 Thursday and $1.74 on Friday.

Wheat

What prices dropped down to an average of $7.53 on the Minneapolis Grain Exchange, compared to $7.92 last week. This average marks wheat's lowest price yet this year. Two weeks ago, wheat was $7.64.

Prices averaged $9.13 at the end of 2012.

Last week, wheat closed at $7.55 Monday, $7.59 Tuesday, $7.55 Wednesday and $7.50 Thursday and Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel is $3.67, up 20 cents from two weeks ago. Last week, consumers were paying $3.61 at the pump, according to the AAA and the Oil Price Information Service. Prices a month ago were $3.58.

Last year at this time, consumers were paying $3.46 at the pump.

Today's mid-range unleaded is $3.83, from $3.78 last week and $3.65 two weeks ago.

Premium gas is $3.99, from $3.94 last week.

Diesel fuel prices are also up, averaging $3.87 today, from $3.84 last week. The price of diesel fuel was $3.85 a month ago and $3.73 a year ago.

Natural gas

The Henry Hub spot price was relatively flat during the report week, settling at $3.67 per MMBtu July 17. Northeastern natural gas spot prices increased over the report week because of hot weather, while several other price points throughout the country decreased slightly.

At the New York Mercantile Exchange (Nymex), the front month (August 2013) contract price fell by a nickel to $3.629 per MMBtu July 17.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed last week at $72.08, up from $70.64 the week prior, when the company announced its quarterly earnings. The company's 52-week low was in early February at $59.68. The company's 52-week high was $74.75 in November.

Domino's hit yet another 52-week high last week, hitting $64.15 before closing out Friday at $63.58. The company closed at $64.07 the week prior. DPZ's 52-week low was $31.76 a year ago.

Papa John's finished Friday at $69.26 after hitting another 52-week high during the week at $69.83. The Friday prior, PZZA closed at $69.73. The company hit its 52-week low of $46.42 a year ago.

Last week was also a boon for CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, which reached a new 52-week high of $45.66 before closing Friday at $45 even. Its 52-week low was in August at $28.23.

Pizza Inn closed out last week at $6.45, up from $5.76 the week prior. The company traded as low as $2.20 a year ago.

Read more about supply chain news.

Photo courtesy of Wikimedia.

Related Content

User Comments – Give us your opinion!
Products & Services

Hardware

http://global.networldalliance.com/new/images/products/4553.png

4553/Hardware

PCI Compliance Services

http://global.networldalliance.com/new/images/products/4892.png

4892/PCI-Compliance-Services

Restaurant Sales Builder

http://global.networldalliance.com/new/images/products/4286.png

4286/Restaurant-Sales-Builder

Distribution RFP’s & RFQ’s

http://global.networldalliance.com/new/images/products/6411.png

6411/Distribution-RFP-s-RFQ-s

Online Ordering

http://global.networldalliance.com/new/images/products/5931.png

5931/Online-Ordering

Operations Support

http://global.networldalliance.com/new/images/products/6409.png

6409/Operations-Support

MVR Reports

http://global.networldalliance.com/new/images/products/MVR_Report_iix.gif

1252/MVR-Reports

Digital Menu Boards

http://global.networldalliance.com/new/images/products/6681.png

6681/Digital-Menu-Boards

Chicken

http://global.networldalliance.com/new/images/products/6793.png

6793/Chicken

Remote Service | Content Management Service

http://global.networldalliance.com/new/images/products/6685.png

6685/Remote-Service-Content-Management-Service

Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.