Fuel import index down 39 percent over the year ending in January 2015

February 19, 2015

U.S. import prices decreased 8.0 percent from January 2014 to January 2015. This was the largest 12-month decline since the index fell 12.0 percent from September 2008 to September 2009.

12-month percent change in selected import indexes, January 2010–January 2015
Month Fuels and lubricants All imports excluding fuels

Jan 2010

77.8 1.3

Feb 2010

72.0 1.9

Mar 2010

61.7 2.7

Apr 2010

54.4 3.2

May 2010

33.5 3.5

Jun 2010

10.7 2.9

Jul 2010

14.7 2.8

Aug 2010

8.4 2.7

Sep 2010

8.1 2.5

Oct 2010

9.5 2.5

Nov 2010

8.0 3.0

Dec 2010

14.2 3.0

Jan 2011

13.9 3.4

Feb 2011

21.1 3.8

Mar 2011

31.0 4.4

Apr 2011

37.3 4.6

May 2011

43.7 4.5

Jun 2011

46.1 5.0

Jul 2011

44.8 5.4

Aug 2011

40.3 5.4

Sep 2011

40.9 5.4

Oct 2011

34.3 4.8

Nov 2011

32.4 3.7

Dec 2011

24.9 3.4

Jan 2012

19.8 2.9

Feb 2012

13.4 2.4

Mar 2012

7.9 2.0

Apr 2012

-0.5 1.3

May 2012

-5.5 0.9

Jun 2012

-11.5 0.6

Jul 2012

-13.4 0.0

Aug 2012

-6.1 -0.4

Sep 2012

-1.5 -0.4

Oct 2012

-0.8 0.1

Nov 2012

-6.2 0.2

Dec 2012

-7.9 0.0

Jan 2013

-6.0 0.0

Feb 2013

-2.5 0.1

Mar 2013

-6.6 -0.4

Apr 2013

-8.1 -0.7

May 2013

-4.3 -1.1

Jun 2013

3.8 -1.0

Jul 2013

7.7 -1.0

Aug 2013

4.1 -1.0

Sep 2013

1.2 -1.2

Oct 2013

-2.2 -1.3

Nov 2013

-4.1 -1.2

Dec 2013

-1.2 -1.2

Jan 2014

-2.2 -1.1

Feb 2014

-0.1 -1.2

Mar 2014

1.0 -0.7

Apr 2014

0.8 -0.6

May 2014

3.8 -0.2

Jun 2014

6.2 0.0

Jul 2014

2.9 0.5

Aug 2014

-3.5 0.7

Sep 2014

-7.9 0.4

Oct 2014

-11.2 0.3

Nov 2014

-15.9 0.0

Dec 2014

-26.0 0.0

Jan 2015

-39.0 -0.9

The price index for imported fuel declined 39.0 percent over the past 12 months. This was the largest drop since the index fell 41.0 percent from August 2008 to August 2009. From January 2014 to January 2015, petroleum prices declined 40.1 percent, and natural gas prices fell 29.0 percent. 

Prices for nonfuel imports fell 0.9 percent from January 2014 to January 2015. This was the largest drop since the index fell 1.2 percent from February 2013 to February 2014.

These data are from the International Price program. Import and export prices are subject to revision. To learn more, see “U.S. Import and Export Price Indexes — January 2015” (HTML) (PDF). 

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Fuel import index down 39 percent over the year ending in January 2015 on the Internet at https://www.bls.gov/opub/ted/2015/fuel-import-index-down-39-percent-over-the-year-ending-in-january-2015.htm (visited September 15, 2019).

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