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 9, 2012 |
For the fourth straight day, California has a new record for gasoline prices, but the rise has apparently lost nearly all of its momentum. The average cost of a gallon of regular gasoline in California today is $4.671 a gallon, up just 0.3 cents overnight, according to the AAA Fuel Gauge Report, which tracks prices from 100,000 retail outlets across the U.S. That's still 48.9 cents a gallon higher than it was a week ago and 86.6 cents a...
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?
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.
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.
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.
January 17, 2012 |
Today, the U.S. average price for a gallon of regular gasoline is 28.5 cents a gallon higher than it was a year ago, according to the AAA Fuel Gauge Report. In California today, prices are 34.1 cents a gallon higher than those of last year. But if the Martin Luther King Jr.holiday is any guide, the fuel bite today won't be any worse on American wallets than it was last year. What gives? The reason is that U.S. drivers will burn about 36 million fewer gallons of gasoline today than they did last year, when they were bought about 370 million gallons, according to the Oil Price Information Service (OPIS)
April 12, 2011 |
Gasoline and diesel buyers got no relief Monday despite a drop in oil costs. Benchmark West Texas Intermediate crude for May delivery declined $2.87 to close at $109.92 a barrel on the New York Mercantile Exchange. Traders were reacting to lowered forecasts for U.S. economic growth and a potential cease fire in Libya. Pump prices continued the climb that began in September. The U.S. average for a gallon of regular gasoline jumped 10.7 cents in the week ended Monday to $3.791, or 93.3 cents higher than a year earlier, according to the Energy Department's weekly survey of service stations.