Showing posts with label gas prices. Show all posts
Showing posts with label gas prices. Show all posts
Friday, March 16, 2012
Wednesday, March 14, 2012
Tuesday, March 6, 2012
Friday, August 26, 2011
Gas Prices May Spike
Hurricane Irene is bearing down on the East Coast, threatening nearly 10% of the nation's refining capacity that lies in Philadelphia, New Jersey and Delaware.
Gasoline futures traded in New York have already spiked, rising 10 cents a gallon this week, largely on fears there will be a disruption in output from the refineries, barge routes or pipelines serving the heavily populated eastern seaboard.
Monday, May 16, 2011
Thursday, May 5, 2011
Friday, April 29, 2011
sourceThursday, April 21, 2011
So why is gasoline so expensive, when oil is so far off its record price?
The answer is that the price of oil Americans see every day has little to do with the price of gasoline at the pump.
Those prices are for a particular type of oil -- West Texas Intermediate -- that's stored in Cushing, Okla.
Thanks to increasing supplies from the Rocky Mountain states and Canada's oil sands, plus a lack of pipelines to move that oil out, there's currently a big glut of oil in Cushing. That's pushing the price of West Texas crude down.
Prices for most other types of oil, which make up the vast majority of oil that refiners use in U.S. gasoline, are much higher than West Texas Intermediate. London's Brent crude, for example, was closer to $124 a barrel on Wednesday.
Friday, April 15, 2011
Friday, March 11, 2011
Tuesday, July 13, 2010
Sunday, May 31, 2009
Gas Prices
The price of gas, rising for the 33rd straight day, has reached $2.50 a gallon, motorist group AAA reported Sunday.The spike of more than 20% in a month is hitting Americans in their wallets and causing concern among some experts.
Tuesday, May 26, 2009
6 Month High for Oil
Light, sweet crude for July delivery rose 78 cents, or 1.3%, to settle at $62.45 a barrel Tuesday.
That's the highest settle price since Nov. 5, and the fourth day in a row that oil has settled above $60...
The national average price for a gallon of regular unleaded gasoline increased to $2.425, up 1 tenth of a cent from the previous day's price of $2.424, according to a daily survey by motorist group AAA.
In the last 28 days, the average price of gas has jumped 37.7 cents or 18.4%. The average price of a gallon of gas is still down $1.68 or 41% from the record high price of $4.114 that AAA reported on July 17, 2008.read the CNN article
Wednesday, May 6, 2009
Sunday, December 14, 2008
Gas Price Decline Ends After 86 Days
Gas prices rose for the second consecutive day following eighty-six consecutive declines.
The national average price for a gallon of gas rose Sunday to $1.663 a gallon Sunday from $1.66 a gallon Saturday, according to a daily survey of credit card swipes conducted for motorist group AAA. The average price was $1.656 on Friday.
During the nearly three months that gas prices were falling, prices decreased by $2.199 or 57 percent. The current national average is now $2.454 below or 59.6 percent off the record high price of $4.114 that AAA reported on July 17, 2008.
According to AAA, the last time the national average price for a gallon of regular unleaded gasoline was near the current price was February 23, 2004, when the national average was $1.66.
Friday, December 5, 2008
Gas Drops for 79 Days and Counting
Gasoline prices continued their steady descent Friday, with the average national price in a motorist group's survey falling for the 79th consecutive day.
Regular unleaded gas fell 1.6 cents to a national average of $1.773 a gallon, according to motorist group AAA.
Regular unleaded gas fell 1.6 cents to a national average of $1.773 a gallon, according to motorist group AAA.
The price has tumbled nearly 57% from the record high of $4.114 a gallon set July 17. It's down 59 cents in the past month and $1.26 in the past year.
The slowing economy has sent the price of gasoline's main ingredient - crude oil - plummeting on the open market. Crude oil prices have lost more than $100 a barrel since mid-July.
Monday, November 17, 2008
Tuesday, November 11, 2008
from Carpe DiemTuesday, October 7, 2008
Sunday, September 21, 2008
Gas Prices
Gas prices fell another 2 cents, marking the fourth straight decline after rising more than 18 cents in 8 days following Hurricane Ike, according to a nationwide survey of credit card swipes at gasoline stations.
The average price of unleaded regular dropped 2 cents to $3.757 a gallon, from $3.777 a gallon, according to the survey released by motorist group AAA...
Current prices are about 34% higher from a year earlier at this time. Still, prices are 54 cents, or 13%, down from the record high price of $4.114 a gallon set on July 17...
More than 30 refineries, which convert crude oil into usable gasoline, had shut down or were operating with reduced capacity in the Gulf region after the storms hit. The number has since fallen by more than half, restoring gasoline supply to retailers and easing consumer prices.
Many crude pipelines in Texas and Louisiana had also shuttered ahead of the hurricanes. Those are slowly coming back on line.
Lower oil prices have also helped lower the cost of retail gas. Crude has been moving lower since mid-July amid weakening demand, losing more than a third of its value since it reached a record of near $150 just two months ago.
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