Article

Gas prices are at seven-month lows

Wheat prices also continue to plummet.

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

After jumping by more than a dime in one week, cheese prices tempered a bit last week.

Consumers may also be finding more disposable income as prices at the pump ease up – gas prices are at seven-month lows. According to AAA, this is due to decreased demand, cheaper crude oil prices and the switch over to winter-blend gasoline, which is less expensive to produce.

Here's a glimpse at the market this week.

Cheese

After jumping a dime in one week, cheese prices tempered a bit last week on the Chicago mercantile, averaging $2.34, down from $2.40 the week prior.

Prices closed at $2.39 on Monday, $2.36 Tuesday, $2.34 Wednesday and Thursday, and $2.28 on Friday.

Wheat

Wheat prices continued to drop significantly last week and are averaging their lowest prices in four years on the Minneapolis Grain Exchange, at $5.35. Wheat was $5.56 the week prior and $6.07 two weeks ago. 

Prices were near the $8 mark in Q2.

Last week’s prices closed at $5.36 Monday, $5.34 Tuesday, $5.38 Wednesday, $5.36 Thursday and $5.33 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.33, even from $3.33 the week prior. Gas prices were $3.43 a month ago. Consumers were paying $3.40 at the pump this time last year, according to AAA and the Oil Price Information Service. 

Mid-range unleaded was $3.53 on Monday, while the premium unleaded price was $3.71.

The nationwide average for diesel fuel was $3.73, a drop from $3.75 the week prior. Diesel prices are also down from $3.80 a month ago and $3.90 a year ago.

Natural Gas

Prices rose in New England over the Sept. 17-24 report week, with reported restrictions from Algonquin Gas Transmission (AGT). The price at Algonquin Citygate (Boston) rose from $2.64 per million British thermal units (MMBtu) to $4.77/MMBtu to close the week. Prices in the rest of the country stayed closer to their initial marks, with most not moving more than 5 percent in either direction through the week. Transco Zone 6 (New York) fell significantly, however, even as New England rose.

At the New York Mercantile Exchange (Nymex) the price of the near-month (October 2014) contract fell through the week, from $4.013/MMBtu on Sept. 17, to $3.816 on Sept. 23, but rose a dime Sept. 24.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $71.54, a dip from $72.64 the week prior. Yum’s 52-week high of $83.58 was reached in July. Its low of $64.08 was a year ago.

Domino's finished last week at $76.30, down slightly from $76.74 the week prior. DPZ hit its 52-week high of $80.61 in March. The company’s 52-week low of $64.89 was a year ago.

Papa John's finished out last week at $40.10, down from $41.67 the week prior. PZZA’s 52-week high of $55 was in March. Its low of $33.88 was a year ago.

Pizza Inn closed out last week at $8.05, an uptick from $7.92 the week prior. The company’s 52-week high is $9.09, achieved in November 2013. Its low is $5.38 in March.

Shares in Papa Murphy's closed last week at $10.26, down slightly from $10.44 the week prior. Shares were $8.46 three weeks ago. In its fifth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

_{Photo provided by CBS Philadelphia.}

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