November 28, 2012 |
The average price of a gallon of regular gasoline in the U.S. this year never reached the highs seen in 2008, when the all-time record of $4.114 was reached. The 2012 average never even climbed as high as it was last year, when it hit $3.965, according to the Energy Department. But fuel prices have been so consistently high in 2012 that American motorists are on pace to spend more on gasoline this year -- $483 billion, or $1.32 billion a day -- than they ever have before, according to the Oil Price Information Service in New Jersey.
March 1, 2011 |
The nation's gasoline costs are surging at a pace not seen since Hurricane Katrina shut down Gulf Coast refinery operations over the Labor Day weekend in 2005. The average price of a gallon of regular gasoline in the U.S. leaped to $3.383, up 19.4 cents in the week that ended Monday, the Energy Department said, following oil prices higher on unrest in Libya and the Mideast. That was 68 cents higher than a year earlier, bringing the average to the highest it has ever been for this time of the year but still well below the national record of $4.114 a gallon reached in July 2008.
August 31, 2012 |
The summer of 2012's widespread refinery and petroleum pipeline problems, as one analyst put it, will mean that many Americans will face record high gasoline prices during the long Labor Day holiday weekend. In California, analysts have blamed the recent Chevron Corp. refinery fire as the main reason the state will see a second straight year of the highest average prices ever for the traditional three-day ending of the summer driving season. But the national average for the price of gasoline this weekend will shatter a record set in the summer of 2008, the year that the U.S. saw its highest overall prices ever, even after adjusting for inflation.
April 18, 2013 |
California's strict low-carbon fuel standard could help reduce gasoline prices in the state, the opposite of what many have predicted, by encouraging the use of a relatively cheap and relatively clean U.S. crude oil, some experts now say. The standard will require fuel producers -- like refineries -- to lower the carbon intensity of the products they sell here by 10% by 2010 in less than seven years. To comply, California refineries might also have to stop using some of the crude oil they use now. That includes some oil that comes from California that is considered too dirty, from a carbon intensity standpoint.
November 15, 2011 |
Retail gasoline prices remained at record high levels for this time of year, but at least the oil rally finally cooled Monday, ending six straight weeks of gains for the commodity. Any slowdown in crude oil inflation is welcome news to American consumers, who are poised to pay a record $489.7 billion on gasoline this year by the calculation of Tom Kloza, chief oil analyst for the Oil Price Information Service. That's more than $100 billion above what they paid in 2010. U.S. drivers were paying an average $3.436 for a gallon of self-serve regular gasoline, according to the Energy Department's weekly survey of service stations.
September 17, 2008 |
Oil prices took another swan dive Tuesday, falling more than $4 a barrel to flirt with the $90 threshold. But in the wake of Hurricane Ike, Gulf Coast fuel supply operations remained a mess for motorists from Texas to the Northeast, with prices spotted well above $5 for a gallon of regular gasoline. Motorists should brace for a return to $4 a gallon on average nationwide through mid-October, fuel experts said. The increase also will include California, which faces competition for its gasoline supplies.
August 19, 2008 |
Gasoline prices have fallen to their lowest levels since May nationwide and in California, the Energy Department said Monday. Among the factors pushing prices down: falling demand and indications that Tropical Storm Fay would steer clear of Gulf of Mexico petroleum facilities. The price of a gallon of self-serve regular gasoline dropped 6.9 cents to an average of $3.740 nationally, according to the Energy Information Administration's weekly survey of filling stations. That's the lowest since May 12, but 95.5 cents higher than the same Monday a year ago. California motorists saw prices fall 8.1 cents to an average of $4.037 a gallon, the cheapest since May 19, but still a staggering $1.175 above the year-ago price.
September 3, 2008 |
The biggest repercussions from Hurricane Gustav's brush with the Gulf Coast oil complex played out in energy markets Tuesday instead of at refineries and oil rigs, as reports trickled in that damage to key facilities was mostly minor and oil prices plunged below $110 a barrel in response. Teams of oil industry and government employees fanned out across the region, inspecting shut-down refineries responsible for more than 10% of the nation's gasoline production and boarding helicopters and planes to fly over oil platforms that account for 25% of U.S. oil output.
August 31, 2010 |
With gas prices gradually dropping, Southern Californians are more likely to drive for a Labor Day weekend getaway than any time in the last decade, according to the Auto Club of Southern California. For a final summer fling, 91% of the 2.5 million Southern Californians who plan to travel for the holiday weekend will get behind the wheel of a car, a 4% increase over last year, the Auto Club said. Travel experts say traveling by car is gaining popularity partly because it remains one of the cheapest ways to travel and because airline travel has become troublesome and time-consuming.
December 23, 2010 |
Crude oil prices closed above $90 a barrel for the first time in two years, raising the likelihood that U.S. gasoline prices will reach an average of $3 a gallon for the first Christmas ever. California already far surpassed that point this season ? the average pump price was $3.28 Wednesday, according to the U.S. Energy Department. Experts said it's heading for $4 and more in parts of the state. The rising gas prices have experts worried about how the slow-recovering economy could be affected.