BUSINESS
May 12, 2012 | By Tiffany Hsu, Los Angeles Times
Falling energy and gasoline prices helped keep inflation in check last month and also pushed consumer confidence to a four-year high, according to two reports. An index of prices paid by factories, farms and other producers fell 0.2% in April from the previous month, the Labor Department said Friday. It was the first drop of the year and the most substantial one since October. Prices were 1.9% higher compared with April 2011, but represented seven consecutive months of slower increases after surging 7% in September.
BUSINESS
May 8, 2012 | Ronald D. White
California's streak of seven straight weeks of gasoline price declines has ended because of widespread refinery maintenance shutdowns that have reduced fuel supplies by nearly a third compared with a year ago. In California, the average price of a gallon of regular gasoline was $4.213 a gallon, up 2.7 cents from a week earlier, according to the Energy Department's weekly survey of service stations, released Monday. The U.S. average continued to fall, dropping 4 cents to $3.790 a gallon, the Energy Department survey showed.
BUSINESS
May 1, 2012 | By Ronald D. White, Los Angeles Times
Retail gasoline prices continued to fall nationally and in California over the last week, the Energy Department said. The U.S. average price for a gallon of regular gasoline fell 4 cents to $3.830, according to the Energy Department's weekly survey that was released Monday. The U.S. average hit its peak for the year of $3.941 a gallon on April 2 and has fallen for four straight weeks. A year earlier, U.S. drivers spent 5.1 cents more for a gallon of gas. In California, the average cost for a gallon of regular gasoline fell 1.7 cents to $4.186.
BUSINESS
April 26, 2012 | By Jerry Hirsch, Los Angeles Times
Car shoppers will soon find two Ford Focus sedans sitting side by side when they visit the dealership — one with a gas tank and another with batteries. In a milestone for the auto industry, an automaker will give consumers an option to purchase the same model of a vehicle with either a traditional combustion engine or one powered only by electricity. It will mark the first time that buyers can compare the different powertrains on the same car. An electric Focus, next to the gas version, provides, "more transparency to what it means to pay for an electric vehicle," said Thilo Koslowski, an automotive analyst at research firm Gartner Inc. Ford Motor Co.'s strategy of producing an electric car that shares the platform, body style and many components of the standard gasoline model is a departure from other automakers pioneering the electric car market.
BUSINESS
April 24, 2012 | Ronald D. White, Los Angeles Time
Gasoline prices fell again around the nation, the Energy Department's weekly survey showed, with the U.S. average dropping below the year-earlier price for the first time in 2 1/2 years. Analysts called it a milestone, even though it probably didn't feel like much relief to motorists. The national average fell 5.2 cents to $3.87 a gallon, the Energy Department said. The average was nearly a penny below the price a year earlier, the first time that has happened since October 2009.
BUSINESS
April 17, 2012 | By Ronald D. White, Los Angeles Times
Gasoline prices dropped around much of the nation for the second straight week, an Energy Department survey showed. But don't get too excited. History suggests that prices will rise at least a few more times in the next few weeks, analysts said. Fuel prices have peaked before mid-May just once in the last 20 years, according to Energy Department statistics, and it hasn't happened since 1998. The Energy Department's latest survey, conducted Monday, found that the national average for a gallon of regular gasoline fell 1.7 cents to $3.922 since the previous Monday.