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.
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.
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.
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.