February 7, 2012 |
Last month turned out to be the most expensive January ever at U.S. gasoline pumps, boosted by growing economic strength. January is typically a month of falling gasoline prices because fuel demand falters in the slower travel weeks that follow the year-end holidays. Not so this year. In January, retail gasoline prices averaged $3.37 a gallon, according to the Oil Price Information Service, a private fuel information service. That compared with the previous record average for the month of $3.095 a gallon, set last year.
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.
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.
April 11, 2013 |
Experts are saying American drivers, including Californians, can expect some of the lowest summer gasoline prices they have seen in three years. Some are predicting a steady decline in California gasoline prices to as low as $3.84 a gallon by August. This year, the Energy Department is expecting a national summertime average of about $3.63 for a gallon of regular gasoline. That would be the lowest in three years, down six cents from $3.69 a gallon a year ago and off 8 cents from the $3.71 average in 2011.
January 1, 2013 |
Record gasoline prices in 2012 and calls for investigation of California's fuel markets have brought into focus a persistent peculiarity of the state's service station world: the wild swings in price any brand has from one location to the next. Known in the industry as zone pricing, the controversial practice was apparent one afternoon when Culver City resident Michael Denis, on a jaunt to downtown Los Angeles, stopped at a Chevron station to feed his Fiat 500 some gasoline at $4.69 a gallon.
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.
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.
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 1, 2012 |
As they hit the highway for that last road trip of summer, many drivers will pay more for a gallon of gasoline than during any previous Labor Day holiday weekend. And it isn't all Hurricane Isaac's fault. In California, the recent Chevron Corp. refinery fire is the main reason the state will see a second straight record high for the gas price average during the traditional three-day ending of the summer driving season, analysts said. The average cost of a gallon of regular gasoline Friday was $4.157, according to the AAA Fuel Gauge Report, well above the previous record of $3.915 to $3.973 set during the three-day period last year.
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.