March 16, 2010 |
Gasoline prices at the pump rose slightly last week, the Energy Department said Monday, as oil futures fell to their lowest levels in March. The average price of a gallon of regular in California rose 1.5 cents to $3.061, according to the agency's weekly telephone survey of filling stations. Nationally, prices rose 3.7 cents to an average of $2.788 a gallon. In some potentially good news for motorists, analyst Tom Kloza said that prices nationally were already within 25 cents of their likely peak for the year, with the summer driving season yet to come.
October 30, 2012
Analysts said that it would be days, if not a week or two, before Hurricane Sandy's impact on fuel prices in the Eastern U.S. can be assessed. Today, the average cost of a gallon of regular gasoline was up by only the smallest amounts overnight in some states, while others actually saw price declines. In New York, for example, the average cost of a gallon of regular gasoline was up just 0.3 cents overnight, to $3.931. That was still 7.9 cents a gallon below the week-ago price.
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 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.
February 4, 2010 |
Flying J Inc. has agreed to sell its 66,000-barrel-a-day Bakersfield refinery to Paramount Petroleum Corp., a division of Alon USA Energy Inc., if that firm is the successful bidder in an upcoming bankruptcy auction. Flying J, based in Ogden, Utah, filed for Chapter 11 bankruptcy protection in December 2008 after oil prices tumbled from record-high levels and credit markets dried up. Since then, the refinery operated by subsidiary Big West of California has struggled to keep operating and to maintain a regular supply of crude for processing.
February 4, 2013 |
Consumers bludgeoned by record high average gasoline prices in each of the past two years are demanding deals, discounts and loyalty program perks when they buy gasoline. That's according to a new study by the NPD Group, which says that gasoline retailers need to respond if they want to keep their business. “Clearly fuel discounts are a game-changer in today's market,” says David Portalatin, NPD motor fuels industry analyst. Portalatin added, “Whether or not fuel marketers implement a discount program, it is imperative that they create value for the consumer in some aspect of the purchase occasion - whether price, quality, rewards, or some other attribute of the purchase experience.” This represents a significant change in consumer thinking about gasoline prices, according to experts.
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.