Article

Christmas arrives at the gas pump

Fuel experiences its longest streak of declining prices on record, according to AAA.

December 22, 2014 by Alicia Kelso — Editor, QSRWeb.com

The big story for the economy – on both the consumer and operator side – continues to be falling gas prices. Today's national average of $2.39 marks the lowest level since the fall of 2010 and the biggest week-to-week drop (15 cents) in more than 6 years, according to AAA. 

Gas is nearly $1 lower than it was this time last year. AAA reports that the current streak of declines is the longest it's ever tracked.

Here's a glimpse at the market this week.

Cheese

Cheese prices remained relatively steady last week on the Chicago Mercantile, after hitting record-high prices earlier this year. Last week's average was $1.60, from $1.58 the week prior and $1.65 two weeks ago.

Cheese prices were $2.26 in October.

Last week, cheese closed at $1.60 Monday through Thursday and $1.61 on Friday.

Wheat

Wheat prices jumped a quarter last week on the Minneapolis Grain Exchange, averaging $6.46, from $6.21 the week prior.

Wheat was as low as $5.36 in October.

Last week's prices closed at $6.32 Monday, $6.34 Tuesday, $6.59 Wednesday, $6.61 Thursday and $6.48 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline is $2.39, 15 cents lower than it was just a week ago. Gas prices were $2.82 a month ago.

Consumers were paying nearly a dollar more, $3.24, at the pump this time last year, according to AAA and the Oil Price Information Service.

Mid-range unleaded is $2.61 today, while the premium unleaded price is $2.80.

The nationwide average for diesel fuel today is $3.26, a 14-cent drop from $3.40 the week prior. Diesel prices are also down from $3.59 a month ago and $3.84 a year ago.

Natural Gas

With average to above average temperatures through most of the week, spot prices at most trading locations fluctuated slightly around their weekly starting point before ending the report week (Dec. 10-17) modestly higher due to colder temperatures at the end of the week. The exception occurred in trading locations in the Mid-Atlantic and Northeast regions, where prices fell with more temperate weather this week following last week's cold temperatures and storms. Henry Hub spot price started the report week at $3.61 per million British thermal units (MMBtu) Dec. 10, and ended at $3.65/MMBtu Dec. 17.

At the New York Mercantile Exchange (Nymex), the January 2015 contract began the report week at $3.706/MMBtu, rising and falling by less than 10 cents through the course of the week, and ending the week at $3.702/MMBtu.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $71.17, down from $72.02 the week prior. The company's 52-week high of $83.58 was reached in July. Its low of $65.81 was in early October after its Q3 earnings report that included another China supply chain crisis.

Domino's achieved another lifetime high last week, at $97.15. The company closed out the week at $95.69. Its 52-week low is $66.18 from a year ago. DPZ hit lifetime highs for seven weeks in a row before experiencing a slight drop two weeks ago. The company regained its momentum last week.

Papa John's finished out last week at $53.80, down from $55.53 the week prior. PZZA hit a new 52-week high at $57 even two weeks ago. Its low of $37.32 was a year ago.

Pizza Inn closed out last week at $6.92, down 2 cents from $6.94 the week prior. The company's high was achieved last year, at $8.63. Its low is $5.38 from March.

Shares in Papa Murphy's closed last week at $11.80, a jump from $10.46 the week prior. In its ninth month on the NASDAQ, FRSH's high/low is $12.10/$8.08, respectively.

Photo providedby Pixabay.

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