May 22, 2012 |
Retail gasoline prices fell in California and across much of the nation over the last week, while crude oil recovered a little of the previous weeks' losses. The average cost of a gallon of regular gasoline in California fell 3.1 cents to $4.336 a gallon, according to the Energy Department's weekly survey of fuel prices, released Monday. That followed two weeks of increases totaling 28.1 cents a gallon. Last year at this time, a gallon of regular gasoline in California was 12.1 cents cheaper.
May 16, 2012 |
Crude oil futures tumbled to a six-month low overnight amid worries about oversupply in the U.S. and political instability in Greece. West Texas Intermediate futures slumped $2.17 on the New York Mercantile Exchange to $91.81 a barrel in midday trading, an intra-session low not reached since Nov. 3. They closed Tuesday down 80 cents to $93.98 a barrel, the lowest end-of-day number since Dec. 19. Traders reacted to a Tuesday report from the...
April 10, 2012 |
If Sardar Biglari wants to control Cracker Barrel Old Country Store Inc., he'll first have to get past the Southern-style restaurant chain's new "poison pill" defense. Board members of the Tennessee-based company approved a shareholder rights plan to try to obstruct investor Biglari's hostile takeover efforts. The strategy would prevent Biglari, who recently raised his stake in Cracker Barrel to more than 16%, from accumulating 20% without offering shareholders a premium. To do so would water down the value of his shares.
March 28, 2012 |
The U.S. is relying more on Canada and Saudi Arabia for its crude oil needs as imports and production in other supplier nations recede to some of their lowest levels in years, according to a report released by the Energy Department. The top five foreign suppliers of crude have remained unchanged, but there have been important developments in some of those countries. The U.S. is importing less oil than it has since 1999 because of a combination of factors such as lower demand since the global recession and increased domestic production in states such as Texas and North Dakota.
January 11, 2012 |
After years of gaining ground, the Silver Bullet has finally caught the King. Coors Light outsold Budweiser last year to become the nation's second-most-popular brew after Bud Light, according to estimates by an industry trade publication. Beer Marketer's Insights reported this week that Anheuser-Busch InBev sold 17.7 million barrels of its flagship lager in the U.S., less than the 18.2 million barrels that beer drinkers bought of Coors Light. It marks the first time in nearly two decades that Anheuser-Busch hasn't claimed the two top spots on sales charts.
January 10, 2012 |
Retail gasoline prices jumped higher over the last week in California and most of the nation, adding to what was already a record start for a new year. The average price of a gallon of regular gasoline in California rose 7.2 cents to $3.707, shattering the old record for this time of year: $3.332 a gallon, set last year, according to the Energy Department's weekly survey of filling stations. The U.S. average rose 8.3 cents to $3.382. That easily surpassed the old record for this time of year: $3.089 a gallon, also set last year.
December 22, 2011 |
U.S. fuel demand in November dropped, pulled lower by a decline in gasoline consumption, the American Petroleum Institute said. Total deliveries of petroleum products, a measure of demand, declined 1.1% to 18.8 million barrels a day last month from a year earlier, the industry-funded group said today in a report. Year-to-date consumption has averaged 19 million barrels a day, down 0.7% from the same period in 2010. Gasoline demand dropped 1.8% to 8.65 million barrels a day last month compared with the same month in 2010.
November 30, 2011 |
Teachers, doctors, court reporters, border-control agents, ambulance drivers and other public-sector workers walked off the job across Britain on Wednesday in a massive protest against the government's plans to overhaul their pensions. Unions estimated that as many as 2 million state employees went on strike, which would make it the biggest mass industrial action this nation has seen in at least a generation. The government insisted that the number was much smaller, with Prime Minister David Cameron describing the one-day job action as "a damp squib.
November 12, 2011 |
U.S. exports of refined fuels, particularly diesel, have surged to fresh all-time highs, helping to keep the prices of gasoline and diesel in this country at record levels for this time of year. In August, the latest month for which Energy Department data are available, U.S. refiners exported a record average of 895,000 barrels a day of refined fuels, compared with 730,000 barrels a day during the first half of the year. Most went to Central and South America. During 2010, exports averaged a record 656,000 barrels a day, the seventh straight year in which refiners set a new high for fuel exports.
November 7, 2011 |
Texas Gov. Rick Perry, the Republican candidate who may have the most to gain if Herman Cain tumbles in the polls, did not rush to his rival's defense Monday night during a radio interview - instead stating that scrutiny of Cain's record was to be expected given his frontrunner status in national polls. Perry spoke to Fox New host Bill O'Reilly hours after Illinois native Sharon Bialek appeared with attorney Gloria Allred to accuse Cain of making unwanted sexual advances as she sought his help for a job in 1997. "Any time that you rise to the top of the polls, any time that you appear that you are going to be an individual of substance that those on the left are concerned about, you're going to get whacked," Perry told O'Reilly when asked whether the scrutiny of Herman Cain served as a cautionary tale.