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...
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.
November 17, 2009 |
Pump prices edged lower nationally and in California over the last week, the Energy Department said Monday, and analysts were predicting the trend would hold in the near term despite a strong day for oil futures. The average price of a gallon of regular gasoline fell another 2 cents in California to $2.961, according to the Energy Department's weekly survey of filling stations. Analysts said the state's numbers should continue to fall because the wholesale trading price for the unfinished fuel that is blended into the state's gasoline was running at $2.01 a gallon.
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 5, 2012 |
Skyrocketing gasoline prices caused some local service stations to shut off their pumps Thursday while others shocked customers with overnight price increases of 30 cents or more. California's fuel industry isn't running out of gasoline - supplies are only 2.5% lower than this time last year - but recent refinery and pipeline mishaps sent wholesale prices to all-time highs this week. As a result, some station owners weren't buying fuel for fear they couldn't sell it. Those who did buy simply kicked prices higher and bet customers would understand.
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.
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.