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Phil Flynn

BUSINESS
May 17, 2012 | By Ronald D. White
Analysts said that a crude-oil glut from increasing domestic production and imports from Canada helped drive U.S. oil prices below $100. They added that a change in the flow of a key U.S. oil pipeline that begins this week could help reduce retail gasoline prices. The U.S. Energy Department says that crude oil inventories at a storage hub in Cushing, Okla., reached a record 45.1 million barrels on May 11, breaking the old record of 41.9 million barrels set in early AprilĀ  2011.
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BUSINESS
February 23, 2010 | By Ronald D. White
Pump prices for gasoline in California edged slightly lower over the last week but were on the rise just about everywhere else in the nation, the Energy Department said Monday. The bump in retail prices also helped drive oil futures marginally higher, Wall Street analysts said. Gasoline prices had drifted as low as they could go in recent weeks, those analysts said, because some recent refinery outages had limited supply -- and demand is expected to go up. Experts were expecting a surge in demand as motorists returned to driving after harsh storms dropped large amounts of snow in parts of the Eastern U.S. The average price of a gallon of regular gasoline in California fell 0.8 cents to $2.918, its lowest level since Dec. 21, according to the Energy Department's weekly survey of filling stations.
BUSINESS
April 27, 2010 | By Ronald D. White, Los Angeles Times
Doubts about a plan to bail Greece out of its financial mess helped drive oil back under $85 a barrel in trading Monday, analysts said, adding that gasoline prices will probably see their peak for the year by the Memorial Day holiday. For now, pump prices are holding steady, according to the Energy Department's weekly survey of filling stations, released Monday. The average price of a gallon of regular gasoline in California fell two-tenths of a penny to $3.088. The California average has varied by just three cents over the last six weeks.
BUSINESS
December 5, 2006 | Ronald D. White, Times Staff Writer
Pump prices jumped a nickel nationwide over the last week, the Energy Department said Monday, as driver demand slightly outpaced 2005 levels and supplies slipped. But prices in California held steady for the second straight week. A gallon of self-serve regular gasoline rose just 0.3 cent to $2.496 a gallon in California, while the U.S. average increased 5.1 cents to $2.297 a gallon, according to the Energy Department's weekly survey of filling stations around the nation.
BUSINESS
May 5, 2009 | Ronald D. White
Pump prices in California and around much of the nation continued their ever-so-slow crawl higher over the past week, the Energy Department said Monday. But analysts said gasoline costs might be kicked into a higher gear by a resurgent oil market. The average cost of a gallon of self-serve regular gasoline in California rose 1.5 cents to $2.355, according to the government's weekly survey of filling stations. Nationally, the average increased 2.9 cents to $2.
BUSINESS
March 10, 2009 | Ronald D. White
Crude oil on Monday reached its highest closing price since January on concern that oil producers might agree to hold back more production when they meet in Vienna this weekend. But the cost of a gas tank fill-up still provided a measure of relief in the midst of otherwise gloomy economic news. The average U.S. price of a gallon of self-serve regular gasoline climbed to $1.941, up 0.7 of a cent from the previous Monday, according to the Energy Department's weekly survey of filling stations.
BUSINESS
March 21, 2011 | By Ronald D. White, Los Angeles Times
The average price of a gallon of gasoline rose just 1.2 cents over the last week in California but fell 0.5 cents nationwide, according to the Energy Department's weekly survey of service stations. Even with the small rise in prices in the state and the decline nationally, experts warned that it might not be a sign that prices have peaked. Oil and gasoline prices surged amid popular uprisings that toppled governments in Tunisia and Egypt and sparked protests in Yemen, Bahrain and other countries.
BUSINESS
September 15, 2009 | Ronald D. White
The gap between what California motorists and the rest of the nation pay for retail gasoline widened again over the last week as pump prices rose throughout the state. Analysts said that the price jump was probably the result of low production and tight supplies. The average cost of a gallon of regular gasoline in California climbed 5.4 cents to $3.153, the Energy Department said Monday. That set a high for the year for the second straight week and marked the fifth straight week that the state's prices have topped $3 a gallon.
BUSINESS
November 6, 2007 | Ronald D. White, Times Staff Writer
The average pump price for diesel fuel in the U.S. soared to an all-time high -- even when adjusted for inflation -- of $3.303 a gallon over the last week, the Energy Department said Monday. The price jumped 14.6 cents a gallon as booming Asian economies put a squeeze on world supplies. In California, the price is more than 20 cents a gallon above the U.S. average. Average gasoline prices in the U.S. also continued to increase, though not to record levels, by more than 14 cents a gallon to $3.
BUSINESS
June 11, 2011 | By Ronald D. White, Los Angeles Times
Oil and pump prices fell as the world's biggest petroleum exporter took steps Friday to boost its output. Saudi Arabia may increase its oil production by as much as 13% in coming days, a Saudi newspaper reported Friday. The word came just two days after the Organization of the Petroleum Exporting Countries snubbed a Saudi call to raise production quotas to reduce prices and help boost the global economic recovery. Analysts saw the production move as a bold step to reassert Saudi influence over OPEC.
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