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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.
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BUSINESS
March 27, 2014 | By Shan Li
For the first time in months, most Californians are shelling out more than $4 for a gallon of regular gasoline. And with the busy summer driving season ahead, prices are likely to move even higher, fuel analysts said. It's a rite of spring as predictable as warmer weather or blooming flowers: Gasoline prices are edging up. A gallon of regular gasoline Thursday cost an average of $3.99 in the Golden State, the highest since September 2013, according to the AAA Daily Fuel Gauge report.
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BUSINESS
February 14, 2012 | Ronald D. White
U.S. motorists have seen the national average for regular gasoline rise above $3.50 a gallon in just three different years, but it has never happened this early. The national average hit $3.523 a gallon, the Energy Department said Monday, up 4.1 cents from a week earlier. Analysts said the early price shocker is probably a sign that pain at the pump will rise to some of the highest levels ever this year. "This definitely sets the stage, potentially, for much higher prices later this year," said Brian L. Milne, refined-fuels editor for Telvent DTN, a commodity information services firm.
BUSINESS
September 12, 2013 | By Stuart Pfeifer
Gasoline prices in California are on their way back to $4 a gallon. California refinery outages have prompted an increase in wholesale gasoline prices that is now being felt by drivers at the pump, the Automobile Club of Southern California reported. The state average was $3.958 a gallon for regular Thursday - 11.7 cents higher than last week, AAA reported. In the Los Angeles-Long Beach region, the average price of self-serve gasoline is $3.994 a gallon, 11.7 cents higher than last week, but 18 cents lower than this time last year.
BUSINESS
November 17, 2009 | Ronald D. White
Pump prices edged lower nationally and in California over the last week, the Energy Department said Monday, and analysts were predicting the trend would hold in the near term despite a strong day for oil futures. The average price of a gallon of regular gasoline fell another 2 cents in California to $2.961, according to the Energy Department's weekly survey of filling stations. Analysts said the state's numbers should continue to fall because the wholesale trading price for the unfinished fuel that is blended into the state's gasoline was running at $2.01 a gallon.
BUSINESS
May 25, 1989 | From Associated Press
Crude oil futures prices rose sharply in brisk trading Wednesday, a reaction to tight inventories reported by the American Petroleum Institute. On the New York Mercantile Exchange, the July contract for West Texas Intermediate, the key U.S. crude, ended at $19.66 a 42-gallon barrel, up 62 cents after a 43-cent gain Tuesday. The June contract expired Monday and finished at $20.93, with a gain of 33 cents from Friday's close. Prices of crude oil contracts for delivery after July all posted sharp gains.
BUSINESS
March 15, 2008 | From the Associated Press
"Maui no ka oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and experienced the other side of paradise with his first visit to the gas pump. Maui is also No. 1 in the nation in gasoline prices. "After seeing the total, I won't be smiling," Sweeney said as he watched the numbers on the Chevron pump spin faster than a slot machine. The pump finally stopped at $97.20, which put 24 1/2 gallons in his Chevrolet Avalanche.
BUSINESS
February 21, 2012 | Don Lee and Matt Stevens
Just as the recovery is finally looking real, surging fuel prices are once again looming as a major threat to the financial health of U.S. consumers and the broader economy. The price surge has been particularly steep in California, in part because of maintenance at some refineries that make the state's cleaner-burning gasoline. Statewide, average pump prices for regular gasoline crossed the $4 mark over the weekend and reached an average of $4.031 a gallon Monday, up 5% in just the last week and nearly 9% higher than a month ago. "It doesn't bode well for the consumer," said Jeff Spring of the Automobile Club of Southern California.
BUSINESS
January 6, 2009 | Ronald D. White
Gasoline prices jumped during the last week across much of the nation, the Energy Department said Monday, as rising oil prices interrupted an unprecedented plunge in fuel costs. California's average gasoline prices increased for the third straight week because of decreased supply from refinery problems and other market factors. The U.S. average price for self-serve regular gasoline climbed 7.1 cents to $1.684 a gallon, according to the Energy Department's weekly survey of filling stations.
BUSINESS
May 3, 2012 | By Ronald D. White
The decline in Southern California gasoline prices may have come to an end, for now, according to the Automobile Club of Southern California's Weekend Gas Watch. “Unfortunately, most pump prices in Southern California are still well over $4 a gallon even after six weeks of price drops, and price averages are about 65 cents higher than at the start of the year,” said Auto Club spokesman Jeffrey Spring. “Oil industry analysts say California inventories of gasoline are low and that could be contributing to the leveling off of prices.” Gasoline prices rose in the Los Angeles-Long Beach and Orange County regions since last Thursday, ending a six-week streak of declines.
BUSINESS
July 16, 2013 | By Jim Puzzanghera
WASHINGTON -- Sharply higher prices at the gas pump led to the biggest jump in inflation since the winter, the Labor Department said Tuesday. The Consumer Price Index rose 0.5% in June after just a 0.1% increase in May. Gasoline prices were the major factor, shooting up 6.3% in June following sharp declines in the spring. The increase was the largest since prices rose 0.7% in February. Analysts surveyed by Bloomberg expected a 0.3% increase in the index, a key measure of inflation.
BUSINESS
June 18, 2013 | By Jim Puzzanghera
WASHINGTON -- Consumer prices rose in May for the first time in three months, but the increase was small and inflation over the past year remained tame, the Labor Department said Tuesday. The consumer price index rose a seasonally adjusted 0.1% last month after dropping 0.4% in April and 0.2% in March. The so-called core inflation figure, which excludes volatile food and energy costs, rose 0.2% in May after a 0.1% rise the previous month. Over the previous 12 months, prices rose 1.4% on all goods and 1.7% excluding food and energy costs.
AUTOS
June 11, 2013 | By Jerry Hirsch
People who drive electric cars pay the equivalent of $1.51 per gallon of gas in fueling expense in California but only 83 cents in North Dakota, according to new federal government figures. The Energy Department data show the wide variability between states in the cost savings for charging electric vehicles. The national average is $1.14. The data are available on a new calculator that is part of the Energy Department's launch of eGallon -- a way for consumers to compare the cost of fueling electric and gasoline vehicles.
AUTOS
May 29, 2013 | By Ronald D. White
Gasoline prices are only slightly below levels set in 2011 and 2012, according to Energy Department statistics. But even a relatively small decline is enough to dent the used car auction prices of hybrid vehicles and the retained value of electric vehicles. That's the conclusion of the latest Kelley Blue Book Used-Car Market Report for May. As usual, the KBB analysis looks at the prices used car dealerships are paying at auctions to stock their inventories. Alec Gutierrez, senior market analyst for Kelley Blue Book, said in an interview there is usually a close correlation between dealer auction prices and the sticker prices buyers will see at used car sales lots.
AUTOS
May 23, 2013 | By Ronald D. White
Get ready for an expensive three-day weekend behind the wheel. The Union of Concerned Scientists says that Americans will spend about $1.4 billion on gasoline over the course of the Memorial Day holiday. Among those paying the most will be California drivers. PHOTOS: Top 10 cars with the lowest sticker price per mpg The state's gasoline prices are drifting lower again but are likely to remain above $4 a gallon in most parts of Southern California over the long Memorial Day weekend, according to the Automobile Club of Southern California.
AUTOS
May 17, 2013 | By Ronald D. White
Summer is coming. The long Memorial Day weekend is just two weeks away and, of course, average gasoline prices in California are back up above $4 a gallon. On Friday, the average price of a gallon of regular gasoline in California was $4.062, up 7.6 cents since last week, according to the AAA Fuel Gauge Report. You can round up the usual suspects: Refineries say their supplies are tight. PHOTOS: Top 10 cars with lowest sticker price per mpg In fact, some analysts, such as Patrick DeHaan of GasBuddy.com, said that "tight gasoline supply exists especially along the West Coast.
BUSINESS
May 15, 2013 | By Jim Puzzanghera
WASHINGTON -- Big drops in the cost of food and energy pushed wholesale prices down 0.7% in April, the largest monthly decline in more than three years, the Labor Department said Wednesday. The slide in the producer price index, the largest since February 2010, followed a 0.6% drop in March. Gasoline prices, which have dropped significantly this year, sank 6% in April after tumbling 6.8% in March. Quiz: Test your knowledge about the debt limit Overall, wholesale energy prices dropped 2.5% in April after a 3.4% decline in March.
AUTOS
May 8, 2013 | Ronald D. White
Summer gasoline prices will be lower in the U.S. than they were last year. But they won't be much lower, experts say, because U.S. refineries have been exporting record amounts of fuel overseas. That's behind what would normally just be a good news story for U.S. drivers. U.S. production of its own crude oil is booming at such a rate that it is expected to reach 8.2 million barrels a day in 2014 for the first time since 1988, the Energy Department says. That was back when the first George Bush was elected president.
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