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BUSINESS
December 31, 2012 | By Ronald D. White
Californians had the worst year imaginable for gasoline prices in 2012, averaging a record $4.028 for a gallon of regular, according to the AAA Fuel Gauge Report. That shattered the old record, set last year, by a whopping 21.3 cents a gallon. The jump was so big that it even surprised people who review fuel prices on a daily basis. "I can remember when the California average for the year in 2008 was $3.525 and we thought we would never see it go that high again," said Marie Montgomery, spokeswoman for the Automobile Club of Southern California.
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BUSINESS
November 28, 2012 | By Ronald D. White
The average price of a gallon of regular gasoline in the U.S. this year never reached the highs seen in 2008, when the all-time record of $4.114 was reached. The 2012 average never even climbed as high as it was last year, when it hit $3.965, according to the Energy Department. But fuel prices have been so consistently high in 2012 that American motorists are on pace to spend more on gasoline this year -- $483 billion, or $1.32 billion a day -- than they ever have before, according to the Oil Price Information Service in New Jersey.
BUSINESS
November 27, 2012 | By Ronald D. White
The six senators representing the West Coast states of California, Oregon and Washington are sending a letter to U.S. Atty. Gen. Eric H. Holder Jr. today, calling for an investigation into possible manipulation of the gasoline market by refineries that serve the region. In the letter the senators say an investigation is needed to determine whether false or misleading information was used to create a perception of a fuel supply shortage. That might have helped boost fuel prices, the senators say. In California, the price of a gallon of regular gasoline hit a new record of $4.671 a gallon last month.
NATIONAL
November 24, 2012 | By Peter Slavin
The artist who painted the mural that greets drivers entering the little town of Welch in West Virginia's coal fields added the figure of Ed Shepard at the last minute. Ed, as everyone calls him, is a fixture in town. He has manned his service station for 62 years. Plain-spoken, self-educated, and blessed with a remarkable memory, at 89 Ed is a seemingly endless source of knowledge about Welch and surrounding McDowell County. McDowell County used to dig more coal than anywhere else in the country.
BUSINESS
November 7, 2012 | By Ronald D. White, Los Angeles Times
If you're wondering what happened to cheap U.S. fuel, look to Mexico, Canada and even OPEC member Venezuela. U.S. refiners are selling diesel and gasoline to those and other countries at historically high levels, making the nation a net exporter of fuel for the first time since 1949, according to the Energy Department. Such enthusiastic exporting is one of the reasons that gasoline and diesel prices have been so high, energy experts say. Consumer advocates see it as harming motorists because gallons exported aren't available to U.S. gas pumps.
BUSINESS
November 6, 2012 | By Ronald D. White, Los Angeles Times
Gasoline prices are headed lower and might even drop below their average a year ago by early next week, analysts said. In California, the average price for regular gas Monday was $3.996 a gallon, 17.3 cents less than a week earlier, according to the Energy Department's weekly survey. It was the first time that the California average has been less than $4 a gallon since Aug. 6, when it was $3.868. Barring any new refinery or petroleum pipeline problems, drivers in most parts of the U.S. can expect prices to inch lower, experts said.
NATIONAL
November 2, 2012 | By Shashank Bengali, Joseph Serna and Scott Gold, Los Angeles Times
NEW YORK - Temperatures plummeted and tension soared in the Northeast as gasoline supplies continued to dwindle despite furious efforts to bring in fuel. Sandy's death toll reached 100, and New York called off its famous marathon, despite the mayor's protestations that it should have taken place as scheduled, as a symbol of resolve. Government officials moved aggressively to combat the fuel shortage, a crucial hurdle to recovery and a threat to commuters, generators, trash trucks, taxis and rescue workers alike.
BUSINESS
November 2, 2012 | By Jerry Hirsch, Los Angeles Times
Hyundai and Kia overstated the fuel economy on more than one-third of the vehicles they sold in recent years, an embarrassing acknowledgment for two of the fastest-growing auto brands in the U.S. The South Korean automakers issued an apology and said they would give special debit cards to nearly a million owners to make up for the difference in the lower miles per gallon logged by the vehicles. The discrepancies were found by the Environmental Protection Agency, which began investigating after consumers complained.
NATIONAL
November 1, 2012 | By Brian Bennett and Neela Banerjee
WANTAGH, N.Y. -- Ever since the power came on at the gas station early Wednesday, Billy O'Mahoney has been taking calls from neighbors, customers, cousins and distant relatives all asking the same question: "You got gas?" The tanks went dry in four hours on Wednesday, two days after Hurricane Sandy swept through. The station's supply normally lasts two or three days. "It's like gold right now," said O'Mahoney, the service manager at the Wantagh Car Care Center in Wantagh, N.Y., about nine miles inland from communities on the south shore of Long Island that were hammered by Sandy.
BUSINESS
October 30, 2012 | By Ronald D. White, Los Angeles Times
California gasoline prices plummeted over the last week, helping drive down the U.S. average by more than 12 cents a gallon. But Hurricane Sandy was expected to kick retail prices higher in the Eastern U.S. - at least briefly - as refineries there shut down or reduced production as the storm approached. The average price for a gallon of regular gasoline in California on Monday was $4.169, down 26.3 cents compared with a week earlier, according to the Energy Department's survey of fuel prices.
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