Gas prices running out of steam

 
Aug. 14, 2011

Cheese

Average block cheese prices saw a 6-cent decrease last week to $2.09 on the Chicago Mercantile Exchange. The previous week's average was $2.14.

Cheese prices closed at $2.13 on Monday, then dropped to $2.10 Tuesday and Wednesday and ended at $2.05 on Thursday and Friday.

Wheat

Wheat prices were up a penny to $8.36 last week on the Minneapolis Grain Exchange. The previous week closed at $8.35.

Wheat closed at $8.05 Monday, $8.17 Tuesday, $8.37 Wednesday, $8.62 Thursday and $8.61 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.59, a 7-cent drop from last week's $3.66, according to AAA and the Oil Price Information Service.

Prices are also down from $3.67 a month ago and from this time last year, when consumers were paying $2.75 at the pump

Mid-range unleaded is $3.72, down from $3.78 the previous week, while today's premium unleaded price is $3.85, a 7-cent drop from last week's $3.91.

The nationwide average for diesel fuel is $3.90, 4-cent drop from $3.94 last week. Diesel prices were also $3.94 a month ago, but are significantly higher than this time last year when prices were $2.91.

Natural Gas

Natural gas prices fell across the board this week, likely in response to cooling temperatures as well as weak economic news. The Henry Hub spot price fell 17 cents from $4.26 per million Btu (MMBtu) last Wednesday, Aug. 3, to $4.09 per Aug. 10.

Pizza company stocks

Pizza stocks are still recovering after the market was hit two weeks ago following Standard & Poor's unprecedented downgrade of U.S. debt to AA status.

Pizza Hut parent Yum! Brands Inc. are back up to $51.61 after tumbling to $49.65 last week, down from $52.82 the week before. The company hit its 52-week high a month ago when shares were $56.72. Yum! traded at a 52-week low of $38.53 in July 2010.

Domino's also bounced back last week, finishing Friday at $26.19 well above the previous week's $24.70. It hit its 52-week high the prior week at $26.87. Shares remain substantially higher over this time last year when the company traded as low as $12.21 in July 2010.

Papa John's shares dipped again to $28.38 Friday from the previous week's $29.37. The company hit its 52-week high earlier this summer at $34.12. Papa John's traded at a 52-week low of $22.78 in July 2010.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, took a small hit last week, finishing at $30.53 Friday, down from $30.56. The 3-cent drop, however, comes after nearly a $7 drop from the prior week when it finished at $38.70. CEC hit its 52-week high two weeks ago at $41.32, and is now trading near its 52-week low of $30.44 in August 2010.

Pizza Inn jumped to $3.01 Friday, up from last week's $2.45. Its 52-week high was a month ago when it finished at $3.26. It traded as low as $1.86 in August 2010.

For more info on equipment and supplies, click here.


Topics: Chuck E. Cheese's Pizza , Domino's Pizza , Dough , Equipment & Supplies , Food & Beverage , Operations Management , Papa John's , Pizza Toppings


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