After month-long decline, gas prices back on the rise

 
Oct. 16, 2011 | by Alicia Kelso

Cheese

Average block cheese prices dropped 3 cents to $1.70 last week on the Chicago Mercantile Exchange, down from $1.73 the previous week.

Cheese prices closed at $1.76 Monday, $1.70 Tuesday, $1.68 Wednesday, $1.68 Thursday and $1.69 Friday.

Wheat

Wheat prices jumped past the $9 mark last week on the Minneapolis Grain Exchange, from $8.87 the previous week. Prices remain lower than a month ago, however, and are expected to stay lower after a USDA report released last week predicted bigger surpluses.

Wheat closed at $9.34 Monday, $9.36 Tuesday, $9.03 Wednesday, $8.83 Thursday and $8.92 on Friday.

Gasoline and diesel fuel

After about a month of declining gas prices, today's nationwide average for regular unleaded fuel is back up to $3.46, an increase from $3.39 a week ago, according to AAA and the Oil Price Information Service.

Prices remain down, however, from $3.60 a month ago, but are up significantly from this time last year, when consumers were paying $2.83 at the pump.

Mid-range unleaded was up to $$3.60 from $3.54 the previous week, while today's premium unleaded price is $3.73, up from $3.67 last week.

The nationwide average for diesel fuel is $3.81, compared to $3.79 last week. The price of diesel fuel is down from last month's $3.89, and up from this time last year when it cost $3.09.

Natural Gas

Natural gas prices posted net losses at most market locations across the lower 48 States. The Henry Hub spot price fell from $3.63 per million Btu (MMBtu) last Wednesday, Oct. 5, to $3.54 per MMBtu Oct. 12. Despite overall decreases, intraweek trading showed some rallies, particularly near the end of the report week.

Pizza company stocks

After a couple of weeks of uncertainty, the stock market rebounded last week upon approval word of a European bailout and a huge earnings report from Google.

Pizza Hut parent Yum! Brands Inc. closed last week at $52.14, up nearly $2 from $49.24 the previous week. The company hit its 52-week high in August when shares were $56.72. Yum! traded as low as $46.40 in January.

Domino's closed last Friday at $28.32, also up nearly $2 from the previous week, when it closed at $26.63. The company hit a new 52-week high in late September at $28.80. Shares remain substantially higher over this time last year when the company traded at $13.09 in October 2010.

Papa John's closed Friday up to $32.53, from $30.29 the previous week. The company hit its 52-week high in May at $34.27 and traded as low as $25.49 in October 2010.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $31.00, a jump from $28.79 the previous Friday. CEC hit a new 52-week low of $27.42 in September. The company hit its 52-week high of $41.75 in July.

Pizza Inn stocks ended at $3.50 Friday, an increase from $3.26 the previous week and the company's 52-week high. It traded as low as $1.83 in October 2010.

Read more about equipment and supplies.


Topics: Cheese , Chuck E. Cheese's Pizza , Domino's Pizza , Equipment & Supplies , Operations Management , Papa John's , Pizza Hut , Pizza Inn


Alicia Kelso / Alicia has been a professional journalist for 15 years. Her work with FastCasual.com, QSRweb.com and PizzaMarketplace.com has been featured in publications around the world, including NPR, Good Morning America, Voice of Russia radio, Consumerist.com and Franchise Asia magazine.
View Alicia Kelso's profile on LinkedIn

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