Article

Prices continue to fall at the pump

The price for wheat and gasoline have dropped, with a major decrease in gas in the past month. Here’s a look at the rest of the market.

September 8, 2015 by Travis Wagoner — Editor, Networld Media Group

The price for wheat and gasoline have dropped, with a major decrease in gas in the past month. Here’s a look at the rest of the market.

Cheese

Average block cheese fluctuated during the week on the Chicago Mercantile Exchange, reaching a high of $1.75 Wednesday before settling at $1.70 at week’s end. The prices were $1.73 Monday, $1.75 Tuesday, $1.75 Wednesday, $1.70 Thursday and $1.70 Friday.

Wheat

Wheat prices dropped 4 cents last week, hitting $4.86 on the Minneapolis Grain Exchange.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $2.40, down 7 cents from $2.47 the previous week, according to AAA and the Oil Price Information Service.

Prices are also down from $2.61 a month ago, and are significantly lower than this time last year, when consumers were paying $3.44 at the pump.

Mid-range unleaded is $2.69, while Monday's premium unleaded price was $2.91.

The nationwide average for diesel fuel is $2.55, a drop of 1 cent from a week ago. Diesel prices are also down from $2.69 a month ago, and are more than $1 down from a year ago, when prices were $3.80.

Natural gas

The Rockies Express Pipeline (REX) Zone 3 received FERC authorization on Sept. 1 to enter full east-to-west operation, after completing all interconnect work. REX Zone 3 East-to-West is a multiphase project, and is one of 2015's most significant natural gas infrastructure projects supporting Appalachian Basin distribution. It has so far incrementally increased westward capacity on the line to 1.8 billion cubic feet per day (Bcf/d). The next planned phase of the project would increase the capacity to 2.6 Bcf/d, and is planned to be in-service by fourth-quarter 2016. This project is among several that are addressing takeaway from the Marcellus and Utica plays.

In 2014, more than 2.5 billion cubic feet per day (Bcf/d) of increased pipeline capacity entered service to access Appalachian natural gas. As production in these areas continues to grow, so does the amount of pipeline takeaway capacity, with 3.8 Bcf/d of new capacity online year-to-date in 2015, and more than 2.5 Bcf/d of additional capacity planned for the remainder of 2015. These 2015 projects are focused on moving gas east, west, and south of the Marcellus and Utica shale plays.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed Friday at $78.89, a decrease of over $2 from last Friday’s $81.82. Shares have dropped nearly $5 from four weeks ago when they closed at $83.59.

Domino's finished last week at $105.50, down $2.91 from last week’s $108.41.

Papa John's fell to $68.07, from last week’s $68.28.

Shares in Papa Murphy’s closed at $15.13 Friday, up from last week’s last week’s $14.50. Three weeks ago it closed at $14.93.

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.