March 21, 2011 |
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.
June 4, 2012 |
U.S. oil prices fell as low as low as $81.21 a barrel Monday -- the weakest level since Oct. 6, 2011 -- as evidence of a slowdown in the Chinese economy last month added to fears of a sputtering global recovery. Crude oil prices later recovered to $83.08 a barrel on the New York Mercantile Exchange, but were still down 15 cents so far from their previous closing price. In London, oil prices on the ICE Futures Europe Exchange were down $1.07 cents to $97.37 a barrel. The biggest reason for another down day so far, analysts said, was China's non-manufacturing purchasing managers index, which fell last month and suggested another slowdown in economic activity, said Phil Flynn, senior market analyst for Price Futures Group Inc. in Chicago.
November 29, 2011 |
Pump prices continued to fall in California and the rest of the nation, but they remained at record levels for the end of November. The average price of a gallon of regular gasoline in California fell 6.8 cents over the last week to $3.718, according to the Energy Department's weekly survey. That was 56.6 cents higher than the year-earlier per-gallon average and 32 cents higher than the old record for this time of year, which was set in 2007. Nationally, the average price of a gallon of regular gasoline declined 6.1 cents to $3.307.
June 1, 2011 |
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.
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.
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.
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.
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.
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.
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.