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BUSINESS
July 5, 2012 | By Ronald D. White
Gasoline prices in the Southland have fallen to their lowest levels since Jan. 10, according to the Automobile Club of Southern California's Weekend Gas Watch. The price drop continues a trend that began after crude oil prices plunged by more than $25 a barrel in recent weeks. But an Auto Club spokesman warned that costs at the pump will be affected by a recent resurgence in crude oil prices, which are back above $87 a barrel after falling below $80 a barrel last week. “The price of oil has jumped by nearly $10 a barrel in recent days on news of a deal to help keep European economies stable," said Auto Club spokesman Jeffrey Spring.
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BUSINESS
July 3, 2012 | By Ronald D. White, Los Angeles Times
The average retail cost of a gallon of regular gasoline in California dropped to its lowest level since February and the national average fell to its lowest point since January, the Energy Department said, as pump prices continued to adjust to lower oil prices. Some parts of the country may see a slight bump in prices over the Fourth of July holiday, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com, a fuel price-tracking website. "One thing is for sure," DeHaan said about the national average.
BUSINESS
July 2, 2012 | By Ronald D. White
The average retail price for a gallon of regular gasoline in California could fall to $3.50 a gallon in the next few weeks, analysts said, as the state's pump prices align with lower oil prices. Nationally, averages could bottom out around $3.25 a gallon. Some parts of the country may see a slight bump in prices over the Fourth of July holiday, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com, where users report the highest and lowest fuel prices they find at more than 140,0000 service stations.
BUSINESS
May 25, 2012 | By Ronald D. White, Los Angeles Times
California drivers will pay record gasoline prices over the Memorial Day weekend but could get relief in the weeks ahead - unless more unplanned refinery outages occur. Then all bets are off, analysts say. The average price of a gallon of regular gasoline in California was $4.311 on Thursday, down 5.5 cents from a week earlier, according to the AAA Fuel Gauge Report. That beats the previous state record for the traditional start of the summer driving season: During the Memorial Day weekend of 2008, average high prices ranged from $4.168 to $4.228.
BUSINESS
May 22, 2012 | By Ronald D. White, Los Angeles Times
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.
CALIFORNIA | LOCAL
May 10, 2012 | By Dan Weikel, Los Angeles Times
The Metrolink commuter rail service plans to increase fares as early as July to help reduce a $13-million budget deficit largely caused by rising fuel and labor costs, railroad officials said Thursday. If approved, the proposed increase of 5% to 9% will cover only part of the shortfall, making it necessary for Metrolink to seek additional subsidies from the five county transportation agencies that help fund the railroad. "The current economic climate, including soaring fuel prices, requires tough decisions by transportation leaders to fund operations at a level that will continue to meet the region's transportation needs," said John Fenton, Metrolink's chief executive officer.
BUSINESS
April 12, 2012 | By Ronald D. White, Times staff writer
Four straight weeks of declines at the pump have dropped regular gasoline at a few service stations in Southern California below $4 a gallon for the first time since February, according to the Automobile Club of Southern California's Weekend Gas Watch. The average cost of a gallon of regular in California is still 6.5 cents higher than it was at this time last year, at $4.245. But that is a drop of 4.5 cents a gallon since last week and a drop of 11.6 cents since last month. "A little more price competition appears to be happening among gas stations, which is good news for drivers," said Auto Club spokesman Jeffrey Spring.
BUSINESS
April 10, 2012 | By Ronald D. White, Los Angeles Times
The painful rise of gasoline prices across the U.S. may have reached its end, according to two national surveys. The national average for a gallon of regular gasoline on Monday slipped two-tenths of a penny to $3.927 since Sunday, according to the AAA Daily Fuel Gauge Report, which uses prices compiled from more than 100,000 retail outlets by the Oil Price Information Service and Wright Express. Prices fell in all but one of the 23 states with per-gallon averages of $3.90 or above, according to AAA. Two of those 23 states — Michigan and Indiana — saw prices drop below $4 a gallon, reducing the number of states above $4 to eight.
BUSINESS
March 22, 2012 | By Jim Puzzanghera, Los Angeles Times
Beyond tensions over Iran and refinery problems, the recent jump in gasoline prices stems partly from an encouraging sign: The economy is improving. The demand for crude oil has risen as the recovery from the severe global recession has picked up steam in the U.S. and abroad. That, in turn, has helped fuel higher prices at the pump, economists and industry analysts said. "A lot of what drives prices is projection of future demand," said Carl A. Larry, president of Oil Outlooks and Opinions, a research and consulting firm.
BUSINESS
March 21, 2012 | By Jerry Hirsch, Los Angeles Times
Will higher gas prices help lift sales of electric vehicles? Lacey Plache, the chief economist for Edmunds.com, says the hurdles are still too high for widespread adoption of electric vehicles. In an analysis for automotive research firm R.L. Polk & Co., Plache says one problem is that there still isn't a lot of choice when it comes to electrics and plug-in hybrids. Although at least nine electric and plug-in hybrid vehicles are expected to become available in 2012, only the Nissan Leaf and Chevrolet Volt are widely available.
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