Petroleum import prices fell 55 percent in past 12 months
February 19, 2009
Petroleum import prices fell 69.1 percent over the past six months and 55.0 percent over the past year, the largest 12-month decline since the index was first published in June 1982.
For the sixth consecutive month, petroleum import prices and nonpetroleum import prices decreased, falling 2.4 percent and 0.8 percent, respectively, in January 2009. Prices for overall imports fell 1.1 percent in January.
However, prices for both overall imports and petroleum decreased at a smaller rate in January than in each of the previous five months since prices last rose in July.
Nonpetroleum prices decreased 5.7 percent over the past six months and 0.6 percent over the past year.
Overall, import prices fell 12.5 percent for the year ended in January, the largest 12-month decline since the index was first published in September 1982.
These data are from the BLS International Price program. Import price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes – January 2009" (PDF) (HTML), news release USDL 09-0169.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Petroleum import prices fell 55 percent in past 12 months on the Internet at https://www.bls.gov/opub/ted/2009/feb/wk3/art03.htm (visited September 15, 2019).
Recent editions of Spotlight on Statistics
- 25 years of Worker Injury, Illness, and Fatality Case Data
Examines detailed historical data on work-related injuries, illnesses, and fatal injuries.
- Occupational employment projections through the perspective of education and training
Examines employment, projected employment growth, and wages for occupations with different education and training requirements.
- Workers in Alternative Employment Arrangements
A look at independent contractors, on-call workers, temporary help agency workers, and workers provided by contract firms.
- Labor force characteristics of people with a disability
Examines the labor force characteristics of people with a disability and compares them with the characteristics of people with no disability.