Article

With wintry weather knocking, gas prices remain low

Natural gas spot prices respond to winter's tease with an uptick.

November 10, 2014 by Alicia Kelso — Editor, QSRWeb.com

While drivers may have to deal with winter weather conditions earlier than expected this week, they still won't have to worry much about gas prices.

Prices at the pump declined yet again today, with the national average dropping all the way down to $2.92. According to AAA, today's average marks the longest consecutive decline in gas prices since 2008 (46 days in a row). Prices are the lowest they've been since 2010.

Here's a glimpse at the market this week.

Cheese

Cheese prices experienced a 5-cent uptick last week on the Chicago Mercantile, averaging $2.17, from $2.12 the week prior.

Prices were $2.26 two weeks ago.

Last week, cheese closed at $2.14 Monday, $2.17 Tuesday, $2.18 Wednesday and $2.20 Thursday and Friday.

Wheat

Wheat prices fell 15 cents last week on the Minneapolis Grain Exchange, averaging $5.61, from $5.76 the week prior.

Wheat was as low as $5.36 last month.

Last week's prices closed at $5.77 Monday, $5.69 Tuesday, $5.59 Wednesday, $5.54 Thursday and $5.46 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline is $2.92, down again from $2.98 the week prior. Gas prices were $3.24 a month ago.

Consumers were paying $3.19 at the pump this time last year, according to AAA and the Oil Price Information Service.

Mid-range unleaded is $3.13 today, while the premium unleaded price is $3.31.

Conversely, the nationwide average for diesel fuel today is $3.63, up from $3.59 the week prior. Diesel prices are also down from $3.69 a month ago and $3.82 a year ago.

Natural Gas

Spot prices rose at most market locations during the report week (Oct. 29-Nov. 5), as parts of the country experienced their first taste of winter weather. The Henry Hub spot price rose from $3.56 per million British thermal unit (MMBtu) Oct. 29, to $3.80/MMBtu Nov. 5.

At the New York Mercantile Exchange (Nymex), the December 2014 contract moved into the front-month slot as November expired Oct. 29. The December contract rose over the week, beginning at $3.788/MMBtu Oct. 29 and ending at $4.194/MMBtu Nov. 5.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $73.10, up more than $3 from the week prior, when the company closed at $69.98. Yum'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 hit another lifetime high last week, its third in a row, at $91.22. The company closed out Friday at $90.85. Its 52-week low was $66.18 a year ago.

Papa John's finished out last week at $50.49, up nearly $5 from $45.79 the week prior thanks to a positive Q3 earnings report. PZZA's 52-week high of $55 was in March. Its low of $37.32 was a year ago.

Pizza Inn closed out last week at $6.39, down a dime from $6.49 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 $8.92, down from $9.30 the week prior. In its eighth month on the NASDAQ, FRSH's high/low is $12.10/$8.08, respectively.

Photo provided by Wikimedia. 

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