Article

Commodities: Gasoline prices on the rise

The price for cheese decreased, wheat and gasoline increased significantly, natural gas remained low, and pizza stocks were down.

March 14, 2016 by Travis Wagoner — Editor, Networld Media Group

The price for cheese decreased, wheat and gasoline increased significantly, natural gas remained low, and pizza stocks were down. Details are below.

Cheese

Average block cheese prices decreased during the week on the Chicago Mercantile Exchange. Prices were $1.52 Monday and Tuesday, $1.51 Wednesday and Thursday, and $1.50 Friday. The previous week's prices were $1.48 Monday, $1.46 Tuesday, $1.45 Wednesday, $1.47 Thursday and $1.52 Friday.

Wheat

Wheat prices increased 13 cents to $5.16 from the previous week on the Minneapolis Grain Exchange. It was $5.03 the previous week.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline increased 13 cents to $1.94 from $1.81 the previous week, according to AAA and the Oil Price Information Service.

Prices are up from $1.70 a month ago, and are significantly lower than this time last year, when consumers were paying $2.44 at the pump.

Mid-range remained increased 16 cents from last week to $2.18, while Monday's premium unleaded price was $2.39, increasing 10 cents from last week.

The nationwide average for diesel fuel increased 7 cents from last week to $2.06. Diesel prices were also $1.99 a month ago, and 85 cents down from a year ago, when prices were $2.91.

Natural gas

Natural gas spot prices remained at historic lows this report week (Wednesday, March 2, to Wednesday, March 9) as Henry Hub spot prices dropped to their lowest level in 20 years. Henry Hub spot prices during the report week posted a net loss of 2 cents as they fell from $1.59 per million British thermal unit (MMBtu) last Wednesday to $1.57/MMBtu yesterday.

At the New York Mercantile Exchange (Nymex), the price of the near-month (April 2016) contract rose from $1.678/MMBtu last Wednesday to $1.752/MMBtu yesterday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc closed Friday at $77.77, down from last week's $78.05.

Domino's finished last week at $131.72, down from last week's $132.99.

Papa John's closed Friday at $55.86, down from $58.04 the previous week.

Shares in Papa Murphy's closed Friday at $10.42, down from last week's $11.01. Four weeks ago it closed at $8.92.

About Travis Wagoner

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Travis Wagoner spent nearly 18 years in education as an alumni relations and communications director, coordinating numerous annual events and writing, editing and producing a quarterly, 72-plus-page magazine. Travis also was a ghostwriter for an insurance firm, writing about the Affordable Care Act. He holds a BA degree in communications/public relations from Xavier University.