February 14, 2012 |
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.
May 25, 1989 |
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.
March 15, 2008 |
"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.
February 21, 2012 |
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.
May 31, 2012 |
Used-car prices, which had shot up in recent years, are starting to fall. Easing gasoline prices in much of the nation and more trade-ins from a pickup in new-car sales are behind the decrease. Used-car prices are expected to decline 2% in June from May, according to the National Automobile Dealers Assn. Used Car Guide. Used truck prices are expected to fall 1%. Some used cars, especially fuel-efficient autos, will see much larger drops, the association said, as falling gas prices reduces demand for the vehicles.
February 21, 2013 |
Southern California has seen its biggest ever one-month rise in gasoline prices, according to the Automobile Club of Southern California's weekend gas watch. The average price for a gallon of regular gasoline in the varying regions of Southern California has now climbed 57 to 59 cents since last month. "We looked at all of the one-month spikes that could have been bigger since the year 2000 and this was bigger than any of those," said Marie Montgomery, a spokeswoman for the Automobile Club.