Gas prices reach 13-month high

 
April 21, 2014 | by Alicia Kelso

Gas prices across the country continue to rise and are above $4 in some markets. According to the Lundberg Survey, the average price of a gallon is at a 13-month high.

Here's a glimpse at the market this week:

Cheese

Cheese prices remained steady last week, averaging $2.21, which matched the week prior. Prices are about 20 cents lower than they were a month ago, and are about 60 cents higher than this time last year.

Last week, prices closed at $2.18 Monday, $2.19 Tuesday, $2.22 Wednesday and $2.28 on Thursday. Markets were closed Friday for the Good Friday/Easter holiday.

Wheat

Wheat prices jumped 17 cents last week on the Minneapolis Grain Exchange, averaging $7.28, from $7.11 the week prior.

Wheat prices were as low as $6.02 at the beginning of the year.

Last week, prices closed at $7.17 Monday, $7.38 Tuesday, $7.26 Wednesday and $7.32 on Thursday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.66, another jump from the previous week, when the average price was $3.63. According to the AAA and the Oil Price Information Service, prices a month ago were $3.52.

Last year at this time, consumers were paying $3.51 at the pump.

Today's mid-range unleaded is $3.84, from $3.81 the week prior. Premium gas is $4.01, from $3.98 the week prior.

Diesel fuel prices are averaging $3.95, even from $3.95 the week prior. The price of diesel fuel was $3.99 a month ago, and $3.91 a year ago.

Natural gas

Although the Henry Hub spot price fell slightly from $4.66/MMBtu April 9, to $4.62/MMBtu April 16, natural gas spot prices rose somewhat at most market locations this week.

At the New York Mercantile Exchange (Nymex), the price of the near-month futures contract fell slightly from $4.586/MMBtu April 9 to $4.530/MMBtu April 16.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $76.86, up from $75.19 the week prior. The company hit a new 52-week high in November, at $78.68. Its 52-week low was a year ago at $63.16.

Domino's finished last week at $74.97, up slightly from $74.29 the week prior. DPZ hit a new lifetime high last month at $80.61. The company's 52-week low was $49.09 a year ago.

Papa John's shares finished last week at $48.46, from $48.34 the week prior. PZZA hit its 52-week high last month at $55. Its low of $30.34 was a year ago.

Pizza Inn Holdings closed out last week at $5.78, down slightly from $5.95 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $4.47 a year ago.

Photo provided by Wikipedia.


Topics: Cheese , Domino's Pizza , Equipment & Supplies , Food Cost Management , Operations Management , Papa John's , Pizza Hut , Pizza Inn


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

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