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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 April  2011.
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BUSINESS
October 8, 2012 | By Ronald D. White
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.
BUSINESS
April 26, 2011 | By Tom Petruno, Los Angeles Times
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.
BUSINESS
July 20, 2010 | By Walter Hamilton and Ronald D. White, Los Angeles Times
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.
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
October 25, 2011 | By Ronald D. White, Los Angeles Times
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.
BUSINESS
July 21, 2009 | Ronald D. White
The average retail price of gasoline fell about 5 cents a gallon in California and nearly 7 cents nationwide over the last week, the Energy Department said Monday, as prices continued to recede from the highs of the year set June 22. The average cost of a gallon of regular gasoline statewide dropped to $2.829, down 5.1 cents for the week and 17.6 cents since June 22, according to the Energy Department's weekly survey of filling stations. The U.S. average declined 6.5 cents to $2.
BUSINESS
June 1, 2011 | By Ronald D. White, Los Angeles Times
Gas prices fell again in the last week, the Energy Department said, but fuel costs are still higher for this time of year than at any time since 2008. In California, the average price of a gallon of regular gasoline fell 6.5 cents to $4.056 a gallon, according to the Energy Department's weekly telephone survey of services stations around the U.S. That was still $1.032 more than a year earlier and the highest price for this time of year since the $4.242 a gallon recorded June 2, 2008.
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
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.
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