May 22, 2012 |
Retail gasoline prices fell in California and across much of the nation over the last week, while crude oil recovered a little of the previous weeks' losses. The average cost of a gallon of regular gasoline in California fell 3.1 cents to $4.336 a gallon, according to the Energy Department's weekly survey of fuel prices, released Monday. That followed two weeks of increases totaling 28.1 cents a gallon. Last year at this time, a gallon of regular gasoline in California was 12.1 cents cheaper.
May 16, 2012 |
Crude oil futures tumbled to a six-month low overnight amid worries about oversupply in the U.S. and political instability in Greece. West Texas Intermediate futures slumped $2.17 on the New York Mercantile Exchange to $91.81 a barrel in midday trading, an intra-session low not reached since Nov. 3. They closed Tuesday down 80 cents to $93.98 a barrel, the lowest end-of-day number since Dec. 19. Traders reacted to a Tuesday report from the...
May 8, 2012 |
California's streak of seven straight weeks of gasoline price declines has ended because of widespread refinery maintenance shutdowns that have reduced fuel supplies by nearly a third compared with a year ago. In California, the average price of a gallon of regular gasoline was $4.213 a gallon, up 2.7 cents from a week earlier, according to the Energy Department's weekly survey of service stations, released Monday. The U.S. average continued to fall, dropping 4 cents to $3.790 a gallon, the Energy Department survey showed.
April 6, 2012 |
The Energy Department's weekly fuel price survey shows $3.941 as the national average for a gallon of regular gasoline. But the number has been driven recently by the East and West coasts, which have the highest prices in the 48 contiguous states. A gallon of regular gasoline on the West Coast is averaging $4.231 a gallon. On the East Coast, the average is $3.911 a gallon. That compares with the Rocky Mountain states ($3.748 a gallon), the Gulf Coast states ($3.802) and the Midwest ($3.905)
March 27, 2012 |
With average U.S. oil prices at their highest for this time of the year, gasoline prices likewise climbed to their highest average for the first 12 weeks of the year, according to Energy Department statistics. The benchmark West Texas Intermediate crude rose 16 cents Monday to $107.03 a barrel on the New York Mercantile Exchange. That helped push up the national average for a gallon of regular gasoline 5.1 cents over the last week to $3.918, the Energy Department said. That was 32.2 cents higher than a year earlier.
March 16, 2012 |
President Obama launched a fiery defense of his energy policy Thursday amid growing pressure to stem rising gasoline prices, perhaps by releasing oil from the nation's emergency petroleum reserve. Obama avoided mentioning the Strategic Petroleum Reserve option, but acknowledged the pain Americans feel at the pump and mocked Republicans for "acting like 'We've got a magic wand and we will give you cheap gas forever.' " "We've seen it all before; we know better. You know better," he told a crowd at Prince George's Community College in Maryland.