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BUSINESS
March 21, 2012 | By David Pierson, Los Angeles Times
The pain at the pump can be felt in China too. The government on Tuesday raised retail prices for gasoline and diesel fuel for the second time in less than six weeks in an attempt to keep pace with soaring crude oil prices. Chinese motorists are now paying $4.43 a gallon for 90-octane fuel — nearly equal to the $4.45-a-gallon average for mid-grade fuel in California, according to AAA. In contrast with the U.S., retail pump prices in China are set by central authorities, in part to maintain social stability.
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NEWS
August 2, 2013 | Bloomberg News
Chevron Corp. posted its biggest second-quarter profit decline in four years and missed analysts' estimates as crude oil prices and production fell. Net income dropped 26% to $5.37 billion, or $2.77 a share, from $7.21 billion, or $3.66, a year earlier, the San Ramon, Calif., company said Friday. The per-share result was 19 cents below the average of estimates compiled by Bloomberg. Chevron's oil and natural gas output fell 1.6% to the lowest second-quarter average in half a decade as new wells in Angola, the Gulf of Mexico and Pennsylvania failed to make up for declining production from older fields, according to the statement.
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BUSINESS
May 16, 1997 | From Times Staff and Wire Reports
Consumer prices inched up just 0.1% in April while a recent surge in factory production moderated, the government said Thursday in two reports that cheered Wall Street. Declining food and energy costs tempered higher retail prices for other products and services, holding consumer price increases so far this year to an annual rate of 1.5%. However, when volatile prices for food and energy are excluded--as analysts often do to gauge broader economic trends--prices were up 0.
BUSINESS
May 31, 2013 | David Lazarus
Consumers have been told by insurers again and again that if they want cheaper prices for prescription drugs, they need to order them in bulk from mail-order pharmacies. And typically, it works out that way. Sometimes, however, the prices reveal how screwy our healthcare system is - and what a challenge it can be to get a straight answer about medical costs. Jeff Zoldos, 61, had such an experience after his employer switched his coverage to Aetna at the beginning of the year.
NEWS
September 23, 1986 | Associated Press
Consumer prices rose 0.2% in August as higher prices for food and clothing offset fresh declines in gasoline costs, the government said today. Even with the slight jump, which followed a month of flat prices, consumer costs have risen at an annual rate of just 0.1% this year, the best January-August performance since 1955. Although energy prices in those eight months have fallen at an annual rate of 25.8%, all other retail prices, lumped together, have risen at a 3.7% rate. Prices had fallen 0.
BUSINESS
January 27, 1986 | From Associated Press
Crude oil prices have plunged $8 a barrel in the last 10 days, but pump prices have dipped only 1.5 cents a gallon and "there is no sign of a price war in the retail marketplace," oil industry analyst Dan Lundberg said over the weekend. "Dealers aren't taking advantage," he said. "They are merely realigning themselves and catching up with the market."
NEWS
July 31, 1992 | GERI COOK
Resale is the only way to shop for children's apparel. When my children were young thirtysome years ago, I was hooked when I walked into my first resale store and found upscale fittings for my babes at dime-store prices. Some people are fortunate to have a network of hand-me-downs for their little ones. But if you don't, it doesn't make sense to pay astronomical asking prices for clothes they will outgrow in two months, if they don't tear them apart sooner.
NEWS
November 5, 1997 | DAVID G. SAVAGE, TIMES STAFF WRITER
In a decision that could lead to lower prices for everything from hamburgers and gasoline to cars and computers, the Supreme Court ruled Tuesday that manufacturers and wholesalers can set retail price ceilings for their products. In its 9-0 ruling, the court overturned a long-standing doctrine that gave retailers the freedom to charge as much as the market would bear.
BUSINESS
March 15, 2012 | By Ronald D. White, Los Angeles Times
California motorists bludgeoned by the nation's second highest average retail gasoline prices may finally see some relief in the coming days. That's because the price for the nation's most expensive raw or unfinished gasoline, known as Carbob, has plummeted from its February highs, according to Tom Kloza, chief oil analyst for the Oil Price Information Service. Carbob is an acronym for a tongue-twisting mouthful: California Reformulated Gasoline Blendstock for Oxygenate Blending.
NEWS
August 30, 1985 | Associated Press
General Motors Corp. announced today that the suggested retail prices on its 1986-model cars will increase an average 3% over the 1985 models. Most option prices remain unchanged, although optional six-cylinder and eight-cylinder engines are up between $50 and $100, GM said in a statement.
AUTOS
February 28, 2013 | By Ron White
California gasoline prices may have already peaked for the first half of the year and should head lower soon, analysts said. Meanwhile, nationwide gasoline price averages over the first two months of the year rose at such a blistering rate that Americans were on pace to pay half a trillion dollars on gasoline in 2013 for the first time ever, analysts said. The high prices were causing big changes in the driving habits of American motorists, with gasoline consumption dropping sharply.
BUSINESS
January 15, 2013 | By Tiffany Hsu, This post has been updated. See below for details.
Economic prognosticators spent the end of 2012 fretting about looming spending cuts and toxic tax increases. Consumers, however, spent it shopping. Retail sales across the nation rose 0.5% to $415.7 billion in December as Americans put fiscal cliff worries on the back burner and went on holiday buying sprees, according to the Commerce Department. The increase was the second since November's 0.4% bump. “The fiscal cliff debate weakened confidence more than it weakened actual spending as December sales finished the year in decent fashion,” Credit Suisse analysts wrote in a report Tuesday.
BUSINESS
January 14, 2013 | By Christine Mai-Duc
Consumers looking to purchase a new Nissan Leaf could find themselves saving some green this year. The 2013 Leaf will retail for $6,000 less than the previous model, the company announced Monday at the Detroit auto show. The S-series, Nissan's newest model in a line of battery-powered all-electric vehicles, will cost $28,800. In California, the $7,500 federal electric-vehicle tax credit and a $2,500 state rebate could drop the price as low as $18,800. The new models will go on sale in February.
BUSINESS
October 19, 2012 | By David Lazarus
Our national nightmare is over. Fears of an ongoing shortage of peanuts and hence peanut butter (which, if it isn't a food group, should be) have been alleviated by a record peanut crop. According to the U.S. Department of Agriculture, the 2012 peanut harvest should hit 6.1 billion pounds, topping the 2008 record of almost 5.2 billion pounds. The increase has cut peanut prices by more than half since the spring, prompting makers of peanut butter to say retail prices should come down in coming months.
BUSINESS
July 24, 2012 | By Ronald D. White, Los Angeles Times
Average pump prices in California are back above $3.80 a gallon, and the U.S. average is approaching $3.50, the Energy Department said Monday. Analysts said retail fuel was still catching up with a three-week rise in the price of oil. The average cost of a gallon of regular gasoline in California was $3.808, according to the Energy Department's weekly survey. It was the second straight week of increases after eight weeks of falling prices. The new average is up 5.5 cents from a week earlier but down 1 cent from a year earlier.
BUSINESS
June 15, 2012 | By Salvador Rodriguez
Anyone in the U.S. who wants a MacBook Pro with Retina is going to have to wait a couple of weeks for it to ship. That is unless you go on EBay and spend a couple thousand more bucks than it's worth. Apple's brand new computer has been a hit with users, and it's already sold out. But as any economist will tell you, when the demand for a limited supply rises, so do prices, and that's what happened on EBay. From my search , the highest-priced Retina MacBook Pro model on the site is going for $4,000 , which is nearly twice the version's retail price of $2,199.
BUSINESS
January 22, 1997 | Times Staff and Wire Reports
Last weekend's cold snap caused at least $100 million in frost damage to Florida's winter vegetable crop, pushing wholesale and retail prices immediately higher, the Florida agriculture department said. Heavy losses to beans, squash, peppers and tomatoes were reported by some state farmers. Wholesale prices for winter vegetables were already rising quickly, according to farmers.
BUSINESS
June 9, 2012 | By Shan Li, Los Angeles Times
Women salivate over Manolo Blahnik heels. Men covet Nike Air Yeezy 2 sneakers. The limited-edition shoe, designed by rapper Kanye West, has already attracted long lines and frenzied online bidding for thousands of dollars. That's kind of impressive, considering the shoe goes on sale Saturday at a retail price of $245. Only about 3,000 to 5,000 pairs will be released, and sneaker collectors — known as "sneakerheads" — are anxiously awaiting the chance to add the shoes to their closets or resell them for a plump profit.
BUSINESS
May 29, 2012 | By Nancy Rivera Brooks
Oil slipped lower in New York futures trading but managed to stay above $90 a barrel. The U.S. benchmark West Texas Intermediate grade of crude declined 10 cents to $90.76 a barrel on the New York Mercantile Exchange because of trader concerns about European economies.  In London, the European benchmark Brent crude fell 75 cents to $106.36. Meanwhile, motorists were enjoying a bit of relief at the pump - even in California where the average gasoline price set a record over the Memorial Day weekend.
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