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.
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.
March 6, 2012 |
The latest streak in the nation's gasoline price pain finally ended overnight after 39 straight days of increase, the AAA Fuel Gauge Report said. But the small drop of 0.33 of a cent to a U.S. average of $3.764 for a gallon of regular was unlikely to bring any smiles to motorists. Still, analysts noted that it was the first price break since January. Gasoline prices have been on an almost relentless rise since the end of the Labor Day weekend, setting all-time records for prices in California and the nation in September, October, November, December, January, February and March.
January 18, 2012 |
Gasoline prices rose in most of the U.S. during the last week and are higher than they were a year earlier, according to a federal survey released Tuesday. But the fuel bite out of the collective American wallet may not be any worse than it was a year earlier because consumption is down. The U.S. average price of self-serve regular gasoline Monday was $3.391 a gallon, up nearly a penny from a week earlier and 28.7 cents higher than a year earlier, the Energy Department said in a report delayed a day by the Martin Luther King Jr. holiday.
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.
October 15, 2012 |
Gasoline prices in California are dribbling lower, with the average price slipping as much as a penny a day from record highs reached last week, fuel surveys show. "It's all rigged. They've got us over a barrel, literally," grumbled restaurant manager Jay Moss, who paid $4.99 a gallon Sunday at a Mobil station in Santa Monica. "It's down a little, but not much. I'm just tired of looking. " Although the slow pace of relief might be annoying to drivers, it's a familiar pattern to energy economists.
October 6, 2012 |
California drivers are reeling from days of sharp gasoline price increases that left the state within reach of its record high. Economists warn that a prolonged period of elevated gas costs could harm consumers as the holiday shopping season kicks in. Analysts attributed the price surge to fuel traders' emotional reaction after a series of refinery outages and other problems, including a Northern California refinery fire, a Southern California refinery...
January 6, 2012 |
Not only are we worrying about the end of the world in 2012 — thanks, Maya calendar makers — but this also may be the year of the gas-pocalypse, analysts warn. That's because gasoline prices are the highest ever for the start of the year, and they're on the rise, supercharged by expensive oil and changes in refinery operations. In California, the average price of a gallon of regular gasoline was $3.666 on Thursday, up 8.1 cents from a week earlier and up 33.1 cents from a year earlier, which had been a record price for this time of year, according to the AAA Fuel Gauge Report.
November 10, 2010 |
Be it a bushel of wheat from Kansas, a ton of rice from India or a barrel of crude from Saudi Arabia, prices for all manner of commodities are on the rise across the globe, a trend that is starting to pinch American consumers. On Tuesday prices of many raw materials continued to surge, with gold, cotton and sugar reaching record highs. A closely watched index of 19 major commodities closed at a two-year high, despite a late-day sell-off in gold and oil. The effects are rippling from financial trading floors to local stores, forcing consumers to shell out more for everyday basics ?
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.