July 20, 2010 |
Beleaguered petroleum giant BP agreed Tuesday to sell oil and natural gas fields in the United States and other countries to rival Apache Corp. for $7 billion in its biggest move yet to raise money to pay reparations for the Gulf of Mexico oil spill. The company announced plans to sell its Permian Basin fields in Texas and New Mexico — acquired as part of the purchase of Los Angeles-based Arco in 2000 — as well as properties in Canada and Egypt. Apache was said to be interested in BP's Alaskan assets, but they weren't part of the deal.
October 8, 2012 |
Analysts said that the record-breaking climb of California gasoline prices could end as early as today, if the state manages to avoid any new refinery problems. Analysts said the price jump was already slowing down even as Gov. Jerry Brown decided Sunday to ease the state's gas-blend requirements to allow refiners to process the less expensive winter blend of fuel three weeks early. Today, the average price of a gallon of regular gasoline in California is up just 1.3 cents overnight, to $4.668 a gallon, according to the AAA Fuel Gauge Report.
December 5, 2006 |
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.
October 25, 2011 |
The new normal for gasoline prices continues to plague American consumers. Over the last week, the average price of a gallon of regular gasoline in the U.S. stabilized, down 1.4 cents to $3.462 a gallon after jumping nearly 6 cents a gallon the previous week, according to the Energy Department's weekly survey of service stations. But that's 22.6% higher than the old record for this week of the year, which was an average of $2.823 a gallon set in 2007. For the same week in 2010, the U.S. average was $2.817.
May 17, 2012 |
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 April 2011.
February 23, 2010 |
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.
April 26, 2011 |
The price of silver jumped again, coming close to taking down a 31-year-old record high. Gold also rallied, setting its second record high in as many trading sessions, as the bull market in precious metals rolled on. Silver futures for April delivery traded as high as $49.10 an ounce in New York on Monday before falling back to close at $47.15, up $1.09, or 2.4%. The more actively traded May silver contract rose as high as $49.82 before retreating. The metal's all-time high, before adjusting for inflation, was around $50 an ounce in 1980, when the Hunt brothers briefly cornered the silver market.
November 6, 2007 |
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.
November 28, 2006 |
Oil prices pushed past $60 a barrel Monday because of fears about new OPEC production cuts and increased violence in Nigeria. Retail gasoline prices were mixed during the last week, dropping slightly in California while gaining less than a penny a gallon around the nation, a federal report showed. In New York futures trading, light, sweet crude rose $1.08 to close at $60.32 a barrel, the highest level since Nov. 9.
March 12, 2012 |
Some respite. After a day or so in which prices dropped by a negligible amount, the national average for a gallon of regular gasoline is again on the rise, up 0.9 cents overnight and up 3.4 cents since last week to $3.801. In California, the price rise appeared to be leveling off, but few analysts seemed willing to place a bet on that. Overnight, California's average for a gallon of regular rose 0.1 cent to $4.359. Other states were also feeling the pain, with Illinois last week joining Hawaii, California and Alaska as the only states averaging more than $4 a gallon.