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?
January 4, 2011 |
Oil and gasoline prices began the new year on the same rising course that closed out 2010. Crude oil for February delivery jumped to $92.66 a barrel, a 26-month high, before settling at $91.55, up 17 cents, on the New York Mercantile Exchange. Oil last settled above $92 a barrel Oct. 3, 2008, when it closed at $93.88. Higher crude oil costs have been pushing up pump prices since early December. On Monday, the average U.S. pump price climbed 1.8 cents to $3.07 a gallon, according to the Energy Department's weekly survey of service stations around the U.S. California's average gained 2.1 cents to $3.308 a gallon.
October 15, 2012 |
Gasoline prices in California are dribbling lower, with the average price slipping as much as a penny a day from record highs reached last week, fuel surveys show. "It's all rigged. They've got us over a barrel, literally," grumbled restaurant manager Jay Moss, who paid $4.99 a gallon Sunday at a Mobil station in Santa Monica. "It's down a little, but not much. I'm just tired of looking. " Although the slow pace of relief might be annoying to drivers, it's a familiar pattern to energy economists.
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.
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.
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.
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.
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.