Article

National gas prices hovering near 4-year lows

Domino’s Pizza shares hit a lifetime high after a positive Q3 earnings report.

October 20, 2014 by Alicia Kelso — Editor, QSRWeb.com

Commuters, businesses and travelers haven’t seen gas prices this low since 2011. According to AAA, lower oil prices have sent prices at the pump tumbling and the national average is flirting with $3 even, which hasn’t been seen since 2010.

Conversely, wheat and cheese costs have risen sharply in the past week.  

Here's a glimpse at the market this week.

Cheese

After a couple of weeks of decreasing prices, cheese began to climb again last week on the Chicago Mercantile, averaging, $2.23, from $2.16 the week prior and $2.18 two weeks ago.

Prices closed at $2.19 Monday, $2.22 Tuesday and Wednesday, $2.25 Thursday and $2.28 on Friday.

Wheat

Wheat prices also continued on an upward trajectory for the second week in a row, averaging $5.66 on the Minneapolis Grain Exchange, from $5.57 the week prior and $5.36 two weeks ago.

Last week’s prices closed at 5.58 Monday, $5.64 Tuesday and Wednesday, $5.76 Thursday and $5.70 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline is $3.10, down from $3.19 the week prior. Gas prices were $3.34 a month ago. Consumers were paying $3.35 at the pump this time last year, according to AAA and the Oil Price Information Service.

Mid-range unleaded is $3.32 on Monday, while the premium unleaded price is $3.50.

The nationwide average for diesel fuel today is $3.63, down from $3.67 the week prior. Diesel prices are also down from $3.76 a month ago and $3.87 a year ago.

Natural Gas

Spot prices fell over the report week at most market locations, with northeastern pricing points reaching record lows in Friday trading before reversing losses at the end of the report week (Oct. 8-Oct. 15). The Henry Hub spot price fell from $3.88 per million British thermal units (MMBtu) Oct. 8, to $3.82/MMBtu Oct. 15.

At the New York Mercantile Exchange (Nymex), the near-month (November 2014) contract shed five cents, falling from $3.855/MMBtu Oct. 8 to $3.800/MMBtu Oct. 15.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $67.62, down nearly $2 from $69.31 the week prior and $71.51 two weeks ago. 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 $83.93, up big from $76.41 the week prior after turning in a strong Q3 earnings report. DPZ hit a new lifetime high last week, at $85 flat. The company’s 52-week low of $66.05 was a year ago. 

Papa John's finished out last week at $42.63, up nearly $3 from $40 even the week prior. PZZA’s 52-week high of $55 was in March. Its low of $35.77 was a year ago.

Pizza Inn closed out last week at $6.94, down from $7.31 the week prior. The company’s 52-week high is $9.09, achieved in November 2013. Its low is $5.38, from March.

Shares in Papa Murphy's closed last week at $9.38, up slightly from $9.22 the week prior. In its sixth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

_{Photo provided by Wikipedia.}

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