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Gas, cheese, wheat prices all fall to close out the year

Gas prices have fallen 50 cents in the past month and are more than $1 lower than they were this time last year.

December 29, 2014 by Alicia Kelso — Editor, QSRWeb.com

Gas prices have fallen 50 cents in the past month and are more than $1 lower than they were this time last year. Today's national average of $2.28 marks the lowest level since the fall of 2010.

AAA reports that the current streak of declines is the longest it's ever tracked.

But the good news doesn't stop there for consumers and operators: Cheese, wheat and natural gas prices were all lower last week as well, while the Dow surpassed the 18,000 mark for the first time ever. 

Here's a glimpse at the market this week.

Cheese

Cheese prices fell slightly last week on the Chicago Mercantile, after hitting record-high prices earlier this year. Last week's average was $1.56, from $1.60 the week prior.

Cheese prices were $2.26 in October.

Last week, cheese closed at $1.63 Monday, $1.59 Tuesday, $1.53 Wednesday and $1.49 on Friday. The market was closed on Thursday for the Christmas holiday.

Wheat

Wheat prices also fell a bit last week on the Minneapolis Grain Exchange, averaging  $6.39, from $6.46 the week prior.

Wheat was as low as $5.36 in October.

Last week's prices closed at $6.45 Monday, $6.51 Tuesday, $6.32 Wednesday and $6.31 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline is $2.28, 11 cents lower than $2.39 a week ago. Gas prices were $2.78 month ago.

Consumers were paying more than a dollar more, $3.30, at the pump this time last year, according to AAA and the Oil Price Information Service.

Mid-range unleaded is $2.50 today, while the premium unleaded price is $2.69.

The nationwide average for diesel fuel today is $3.17, down from $3.26 the week prior. Diesel prices are also down from $3.57 a month ago and $3.86 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 $72.79, a jump from $71.17 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 closed out last week at $95.39, down slightly from $95.69 the week prior. DPZ hit its lifetime high of $97.15 two weeks ago. Its 52-week low is $66.18 from a year ago. The company is trading 3,000-percent higher than it was in 2010, before it revamped its recipe.

Papa John's finished out last week at $55.36, up from $53.80 the week prior. PZZA hit a new 52-week high at $57 three weeks ago. Its low of $37.32 was a year ago.

Pizza Inn closed out last week at $7.03, up from $6.92 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 $11.35, a dip from $11.80 the week prior. In its ninth month on the NASDAQ, FRSH's high/low is $12.10/$8.08, respectively.

Photo provided by Wikipedia.

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