February 11, 2013 |
Hedge funds, commodity pools and other high-roller investors have thrown close to $12.5 billion into a collective bet that gasoline prices will rise, and some analysts say it's one reason why gasoline prices are at a record for this date in California and nationally. The details were contained in the Commodity Futures Trading Commission report released Friday, showing that betting on higher gasoline prices was closing in on the highest level ever of $13 billion, set last March. Quiz: Why are California gas prices so high?
February 8, 2014 |
The average price for a gallon of regular gasoline hit $3.648 over the last week in Los Angeles and Long Beach, up 3.6 cents from a week earlier. In Orange County, the average had climbed the same amount, to $3.642 a gallon. But experts say it could be a lot worse. Recent increases are driven in part by annual refinery maintenance and California's early switch to a more expensive summer blend of gasoline. PHOTOS: The 10 cars with lowest sticker price per mpg That's part of the reason gas prices have jumped, sometimes sharply, each spring for more than a decade, said Jeff Spring, a spokesman for the Automobile Club of Southern California.
October 10, 2012 |
The worst-ever one-week spike for California gasoline may be over, for now. Prices dropped by an average of 0.5 cents a gallon overnight, to the still stunning level of $4.666. A week ago, the average price for a gallon of regular gasoline was $4.232. That was already a record for the day, according to the AAA Fuel Gauge Report, which tracks prices from the Oil Price Information Service (OPIS) from more than 100,000 retail outlets. Then things went "apoplectic," in the words of Tom Kloza, chief oil analyst for OPIS.
August 25, 2009 |
Motorists are paying a little less for gasoline in most parts of the country despite the recent increase in oil prices. The average price of a gallon of regular gasoline in California fell 1.6 cents to $3.031 while the national average declined by 0.9 of a cent to $2.628 a gallon, according to the Energy Department's weekly survey of filling stations, released Monday. Prices rose only in the Rocky Mountain states, where the average increased half a penny to $2.616 a gallon. Some analysts were sticking to predictions of a slide in prices by sometime in September to $2.75 to $3 a gallon in California and an average of $2.50 to $2.75 a gallon nationally.
December 28, 2010 |
Oil prices fell from a two-year high Monday, but pump prices were on a course of their own, rising near year-end record highs. Oil was weighed down by China's second interest-rate hike since October. That raised fears that the manufacturing giant's economic growth will slow as the country tries to rein in inflation. China is the world's No. 2 oil consumer behind the U.S. Crude oil futures for February delivery dropped 51 cents, or 0.6%, to close at $91 a barrel on the New York Mercantile Exchange.
July 3, 2012 |
The average retail cost of a gallon of regular gasoline in California dropped to its lowest level since February and the national average fell to its lowest point since January, the Energy Department said, as pump prices continued to adjust to lower oil prices. Some parts of the country may see a slight bump in prices over the Fourth of July holiday, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com, a fuel price-tracking website. "One thing is for sure," DeHaan said about the national average.
August 21, 2012 |
California's gasoline prices may have peaked after the refinery fire at Chevron Corp.'s Richmond facility, but they still rose enough over the last week to reach their highest level ever for the third week of August, the Energy Department said Monday. The average price of a gallon of regular gasoline in California was $4.129, according to the Energy Department's weekly survey of gas stations. That was up 3.3 cents from a week earlier — and 26.1 cents higher than on Aug. 6, just before the refinery fire knocked out parts of the state's third-biggest fuel-producing plant.
July 5, 2011 |
Motorists can expect gasoline prices to drift slightly lower over the rest of the summer, but most of the declines are over, analysts said, as the average for a gallon of regular in California reached $3.794 and stood at $3.579 nationally. The price averages are calculated by the Energy Department's Energy Information Administration, which uses a telephone survey of gas stations across the U.S. California's average price fell 4.5 cents a gallon in the last week, according to the weekly survey.
July 9, 2012 |
Average retail gasoline prices continue to fall in California, but the national average for a gallon of regular fuel rose for the first time in several weeks, according to the AAA Fuel Gauge Report. The average price of a gallon of regular gas in California is $3.708, the AAA said, down 4.1 cents since last Monday. That's a decline of 43.4 cents a gallon over the past month. Here's why it might not feel like much relief: the current average is just 6.3 cents a gallon lower than it was at this time last year.
October 29, 2012 |
The storm-related shutdown of an important New Jersey refinery and cutbacks on production runs at other refineries along the Delaware River may kick up East Coast gasoline prices at the pump later this week, but analysts were predicting that any price jump would probably be short-lived. Phillips 66 said that it has closed its 240,000-barrel-a-day Bayway refinery in Linden, N.J., because of the possibility of storm surges from Hurrican Sandy. Tom Kloza, chief oil analyst for the Oil Price Information Service in New Jersey, said that buyers were reacting to that news by scrambling for supplies.