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Commodities: Gas spikes 15 cents in two weeks

Gas prices spiked 15 cents per gallon, but are still lower than this time last year, as are wheat prices.

April 27, 2015

Gas prices spiked 15 cents per gallon in two weeks, but are still lower than this time last year, as are wheat prices. Cheese prices remained relatively steady the past two weeks while pizza stocks are all up from the previous week.

Here's a glimpse at the market:

Cheese

Block cheese prices averaged $1.60 last week on the Chicago Mercantile Exchange, up $0.03 from $1.57 the previous week.

Prices were $1.57 Monday, $1.60 Tuesday, $1.61 Wednesday, $1.61 Thursday and $1.61  Friday.

Wheat

Wheat averaged $5.41 last week on the Minneapolis Grain Exchange. Prices are nearly $2.00 lower than this time last year, when wheat averaged $7.28.

Wheat closed at $5.39 Monday, $5.45 Tuesday, $5.43 Wednesday, $5.45 Thursday and $5.35 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $2.53, up from $2.45 the previous week, according to AAA and the Oil Price Information Service. Prices climbed 15 cents a gallon in just two weeks due to a rise in crude prices globally, the switch to summer-blend gasoline and regional refinery issues, AAA said.

Prices are up from $2.42 a month ago, but remain down more than $1 from this time last year, when consumers were paying $3.69 at the pump.

Mid-range unleaded is $2.74, while Monday's premium unleaded price was $2.92.

The nationwide average for diesel fuel is $2.80, up from $2.78 last week. Diesel prices are down slightly from $2.84 a month ago, and remain down from $3.96 a year ago.

Natural Gas

Natural gas prices moved up at most market locations through the report week to post modest gains. Henry Hub spot prices started the week at $2.58 per million British thermal units (MMBtu) and rose to $2.60/MMBtu.

At the New York Mercantile Exchange (Nymex), the near-month (May 2015) natural gas contract opened for the week at $2.610/MMBtu and fluctuated slightly through the week, dropping less than 1 cent to close at $2.606/MMBtu.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed at $87.10 Friday, up from $86.62 the previous week and just short of the company's 52-week high of $87.42.

Domino's finished last week at $113.93, up from $110.72 the previous week. Domino's 52-week high is $114.

Papa John's finished at $65.21 Friday, up from $63.39 the previous week. The company's 52-week high is $66.11. Papa John's traded at a 52-week low of $37.32 this year.

Papa Murphy's turned in at $17.66 Friday, up from $17.48 the previous Friday. FRSH's 52-week high came in at $20 and its low at $8.08 this year.