WASHINGTON (Sputnik) — US fuel import prices fell in February for the first time in 2017, the Bureau of Labor Statistics reported on Thursday.
"Prices for import fuel fell 0.7 percent in February, the first downturn since a 1.1-percent drop in November and the second monthly decline since the index fell in August," the report stated.
Prices for both petroleum and natural gas fell 0.7 percent and 1.3 percent, respectively.
Despite the decline, the price index of fuel imports increased 68.9 percent from February 2016, the largest increase since 2010.
Overall, the import price index rose 0.2 percent in February, following a 0.6-percent increase in the previous month.
Export prices increased 0.3 percent in February after rising 0.2 percent in January.
Import prices have increased 4.6 percent over the last year, the largest increase since 2012.
