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?
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 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.
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.
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.
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.
November 6, 2012 |
Gasoline prices are headed lower and might even drop below their average a year ago by early next week, analysts said. In California, the average price for regular gas Monday was $3.996 a gallon, 17.3 cents less than a week earlier, according to the Energy Department's weekly survey. It was the first time that the California average has been less than $4 a gallon since Aug. 6, when it was $3.868. Barring any new refinery or petroleum pipeline problems, drivers in most parts of the U.S. can expect prices to inch lower, experts said.
January 14, 2012 |
Get ready to pay $4 a gallon or more for gasoline this spring, with possible records close to $5 over the Memorial Day weekend, analysts said. "Motorists who drive a SUV may want to consider calling their banking institution and obtain a credit-limit increase so they can afford this summer's fuel expenses," quipped Patrick DeHaan, senior petroleum analyst for GasBuddy.com. Look for a springtime U.S. average of $4.05 for a gallon of self-serve regular gasoline, said Tom Kloza, chief oil analyst for the Oil Price Information Service.