Figure 1. Crude petroleum prices versus retail fuel margins, month-over-month percent change in producer price indexes, April 2009 through September 2016
Date Crude petroleum prices Retail fuel margins

Apr 2009

8.08 -16.50

May 2009

18.87 -6.95

Jun 2009

20.13 54.83

Jul 2009

-15.12 26.93

Aug 2009

17.43 -36.28

Sep 2009

-0.16 17.16

Oct 2009

6.90 -35.35

Nov 2009

6.21 92.94

Dec 2009

-8.61 16.60

Jan 2010

11.36 -23.52

Feb 2010

-5.88 5.13

Mar 2010

9.03 -31.58

Apr 2010

4.39 35.86

May 2010

-12.01 36.80

Jun 2010

0.68 -37.88

Jul 2010

0.77 15.29

Aug 2010

1.78 6.34

Sep 2010

-2.22 -18.67

Oct 2010

8.16 6.95

Nov 2010

5.85 3.03

Dec 2010

2.87 -8.82

Jan 2011

3.28 3.41

Feb 2011

-4.13 0.46

Mar 2011

17.47 3.47

Apr 2011

9.62 2.03

May 2011

-6.72 29.65

Jun 2011

-4.27 3.40

Jul 2011

2.34 -21.15

Aug 2011

-13.72 20.61

Sep 2011

9.67 2.10

Oct 2011

-1.38 -16.93

Nov 2011

14.10 14.07

Dec 2011

-6.31 -4.91

Jan 2012

2.89 -14.59

Feb 2012

1.23 1.81

Mar 2012

3.42 -0.08

Apr 2012

-2.49 16.28

May 2012

-8.33 8.83

Jun 2012

-11.58 0.60

Jul 2012

2.57 -10.19

Aug 2012

9.57 -15.58

Sep 2012

4.05 -3.95

Oct 2012

-4.92 20.04

Nov 2012

-4.40 17.76

Dec 2012

-1.64 9.26

Jan 2013

6.97 -21.45

Feb 2013

1.85 -1.43

Mar 2013

-1.24 6.58

Apr 2013

1.80 14.14

May 2013

0.11 -31.82

Jun 2013

-0.07 31.37

Jul 2013

9.54 -5.62

Aug 2013

0.36 11.38

Sep 2013

0.23 -7.28

Oct 2013

-6.20 2.81

Nov 2013

-9.02 -0.91

Dec 2013

3.88 -6.86

Jan 2014

-3.37 0.84

Feb 2014

8.92 -6.02

Mar 2014

-0.70 -0.24

Apr 2014

2.66 -2.33

May 2014

-1.10 18.09

Jun 2014

2.06 -3.55

Jul 2014

-4.17 15.96

Aug 2014

-3.99 6.29

Sep 2014

-4.46 -16.05

Oct 2014

-12.25 25.96

Nov 2014

-6.20 -2.99

Dec 2014

-20.22 15.42

Jan 2015

-28.89 -10.14

Feb 2015

8.49 -24.83

Mar 2015

-2.15 13.92

Apr 2015

12.16 -4.18

May 2015

15.66 -9.80

Jun 2015

-0.48 7.96

Jul 2015

-12.88 7.79

Aug 2015

-19.53 18.93

Sep 2015

1.91 12.20

Oct 2015

3.32 -17.59

Nov 2015

-8.07 9.83

Dec 2015

-16.47 -9.16

Jan 2016

-19.51 8.16

Feb 2016

-7.46 -7.22

Mar 2016

31.65 -11.90

Apr 2016

15.08 9.56

May 2016

12.35 -1.99

Jun 2016

8.62 31.18

Jul 2016

-6.15 -0.37

Aug 2016

-4.39 -10.33

Sep 2016

2.08 1.78

Source: Author’s calculations from the producer price indexes for crude petroleum and retail fuel margins. Producer Price Index, U.S. Bureau of Labor Statistics.