January 13, 2012 |
Maybe you'll want to start salting away money for 2012 fuel costs now. Get ready to see $4-a-gallon gasoline in various parts of the U.S. sometime this spring, according to one prediction. Another prediction says that some of the nation's biggest cities -- such as Chicago, Los Angeles and New York -- will see record Memorial Day averages of $4.55 to $4.95 for a gallon of regular gasoline. The predictions come from two sources. One is the Oil Price Information Service in New Jersey, which provides the daily averages for the AAA Fuel Gauge Report, using retail receipts from more than 100,000 retail outlets across the U.S. The other is the annual price outlook from GasBuddy.com, where 300,000 to 400,000 member motorists a day report and post online and through phone apps the highest and lowest local prices they see. There are more than 250 price-posting GasBuddy websites devoted to various towns and cities across the U.S. and Canada.
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.
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.
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.
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.
May 9, 2011 |
Retail fuel prices may have run out of gas. The U.S. average cost of gasoline was virtually unchanged during the week ended Monday, the Energy Department said. California's average also was little changed. But fuel experts were unsure whether drivers were seeing only a brief respite or the long-awaited signal that relief was on the way. Nationwide, the average price for self-serve regular was $3.965 a gallon, up two-tenths of a penny. In California, the average was $4.254, down three-tenths of a penny.
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.
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.