Energy prices fell in June
Published:
The decline in the PPI from May to June 2017 was due to a price drop on energy goods of 5.6 per cent. Lower prices on crude oil, refined petroleum products and electricity were the main cause.
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Figure 1. Price indices. 2013=100
Energy goods | PPI total | |
Jan. 2013 | 98.05 | 98.3 |
Feb. 2013 | 99.04 | 98.84 |
March 2013 | 99.98 | 99.73 |
April 2013 | 100.49 | 99.98 |
May 2013 | 96.31 | 97.77 |
June 2013 | 96.3 | 97.63 |
July 2013 | 100.1 | 100 |
Aug. 2013 | 101.17 | 100.98 |
Sept. 2013 | 102.17 | 101.45 |
Oct. 2013 | 100.66 | 100.87 |
Nov. 2013 | 101.53 | 101.41 |
Dec. 2013 | 104.19 | 103.03 |
Jan. 2014 | 104.15 | 103.46 |
Feb. 2014 | 102.76 | 102.75 |
March 2014 | 97.37 | 99.81 |
April 2014 | 96.23 | 99.31 |
May 2014 | 94.53 | 98.43 |
June 2014 | 95.31 | 98.84 |
July 2014 | 93.55 | 98.32 |
Aug. 2014 | 91.84 | 97.63 |
Sept. 2014 | 91.57 | 97.62 |
Oct. 2014 | 90.98 | 97.43 |
Nov. 2014 | 85.46 | 94.73 |
Dec. 2014 | 84.95 | 94.94 |
Jan. 2015 | 76.49 | 90.62 |
Feb. 2015 | 79.76 | 92.55 |
March 2015 | 82.12 | 93.76 |
April 2015 | 82.43 | 93.78 |
May 2015 | 82.65 | 93.73 |
June 2015 | 83.1 | 94.01 |
July 2015 | 79.14 | 91.84 |
Aug. 2015 | 72.17 | 87.9 |
Sept. 2015 | 71.91 | 87.73 |
Oct. 2015 | 72.82 | 88.24 |
Nov. 2015 | 72.8 | 88.61 |
Dec. 2015 | 65.91 | 84.65 |
Jan. 2016 | 59.68 | 80.87 |
Feb. 2016 | 55.99 | 78.75 |
March 2016 | 57.68 | 79.74 |
April 2016 | 58.81 | 80.35 |
May 2016 | 62.44 | 82.55 |
June 2016 | 66.52 | 84.88 |
July 2016 | 67 | 85.23 |
Aug. 2016 | 64.42 | 83.73 |
Sept. 2016 | 62.92 | 82.42 |
Oct. 2016 | 66.59 | 84.25 |
Nov. 2016 | 70.18 | 86.36 |
Dec. 2016 | 77.42 | 90.8 |
Jan. 2017 | 77.78 | 91.09 |
Feb. 2017 | 81.66 | 93.56 |
March 2017 | 79.7 | 92.59 |
April 2017 | 75.24 | 90.66 |
May 2017 | 73.3 | 89.91 |
June 2017 | 69.2 | 87.62 |
Crude oil prices Brent Blend measured in Norwegian kroner fell by about 9.5 per cent, according to the statistics Producer price index. It was the biggest fall in prices we have seen since January 2016 when it became known that the United States lifted an old export ban on crude oil. The average crude price in June was about 47 USD per barrel. High production of shale oil in the United States was the main reason for the price decline.
Snow melting contributed to lower electricity prices
Prices of electricity fell by 8.3 per cent from May to June. High inflows to Norwegian water reservoirs due to snow melting and lower consumption were among the reasons for the price decline.
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Anna Korlyuk
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Statistics Norway's Information Centre