Article

Cheese prices jump 10 cents

Gas prices finally fall after rare September spike.

September 24, 2012 by Alicia Kelso — Editor, QSRWeb.com

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Gas prices are finally falling after a rare post-Labor Day jump attributed to heightened volatility in the Middle East, the continued aftermath of Hurricane Isaac and a handful of oil refineries being shut down for upgrades.

Cheese prices, however, are on the upswing, averaging a dime more than the previous week.

Cheese

Average block cheese prices jumped a dime to $1.94 last week on the Chicago Mercantile Market, from $1.84 the week prior.

Cheese prices are more than a quarter higher than they were at the beginning of August, closing at $1.88 Monday, $1.91 Tuesday, $1.95 Wednesday, and $2 even on Thursday and Friday.

Wheat

Wheat prices fell slightly to $9.38 last week on the Minneapolis Grain Exchange, from $9.40 the week prior. Wheat is nearly $2 higher than in June, when it averaged $7.49.

Prices closed at $9.30 Monday, $9.24 Tuesday, $9.42 Wednesday, $9.40 Thursday and $9.57 Friday.

Gasoline and diesel fuel

Today's nationwide average for regular unleaded fuel is $3.80, a 6-cent drop from $3.86 last week, when prices experienced a rare September surge from Middle East tensions and the lingering aftermath of Hurricane Isaac.

According to the AAA and the Oil Price Information Service, prices a month ago were $3.74. Last year at this time, consumers were paying $3.51 at the pump.

Today's mid-range unleaded is $3.95, from $4.01 last week, while today's premium is $4.09, from $4.14.

Diesel fuel prices today are at $4.10, down slightly from $4.12 last week. The price of diesel fuel is up from $4.02 a month ago, and from $3.87 a year ago.

Natural gas

Natural gas prices declined at most trading locations this week, erasing gains from last week. The spot price at the Henry Hub fell from $2.96 per million British thermal units (MMBtu) from Sept. 12, to $2.70 per MMBtu Sept. 19.

Natural gas futures prices declined along with spot prices. The New York Mercantile Exchange (NYMEX) near-month contract (October 2012) fell from $3.063 per MMBtu Sept. 12 to $2.762 per MMBtu Sept. 19.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $68.52, up nearly $2 from $66.56 last week. Yum! was trading at $63.72 three weeks ago. The company hit its 52-week high in May at $74.44. Its 52-week low is $47.15 from a year ago.

Domino's closed last Friday at $34.69, up slightly from $34.17 the previous Friday. DPZ's 52-week high was $42.21 in April. Shares remain higher over this time last year when the company traded at $25.29.

Papa John's closed last Friday at $52.65, up more than $1 from $51.60 the week prior. PZZA hit its 52-week high at $56.41 after turning in a strong earnings report in early August. The company hit its 52-week low of $29 a year ago.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $30.56, down from $31.34 the week prior. The company's 52-week high was $40.01 a year ago. Its 52-week low was $26.63 a year ago.

Pizza Inn closed Friday at $3.33, a slight drop from $3.37 the previous week. PZZI hit its 52-week high of $7.07 in December and traded as low as $2.18 a year ago.

Photo courtesy of public-domain-image.com.

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About Alicia Kelso

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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.

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