Detroit Bureau on Twitter

Posts Tagged ‘cheap gas’

Not All Gasoline Blends Are Up to Standard

Second-tier fuels can increase engine wear, reduce mileage, warns AAA.

by on Jul.07, 2016

The vast majority of American motorists buy gasoline based on price, not additives.

Hoping to save a few cents whenever it’s time to fill up your fuel tank? You may be wasting your money in the long-term.

Some bargain brand gasoline blends fall short when it comes to adding the detergents needed to keep your engine running smooth and clean, warns a new AAA study. And that can translate into lower mileage, increased emissions and poorer performance – never mind added wear on your car’s engine.

What a Gas!

“AAA was surprised to learn the extent to which detergent additives impact gasoline quality,” said John Nielsen, AAA’s managing director of Automotive Engineering and Repair. “By selecting a quality gasoline, drivers can minimize engine deposits, increase vehicle performance and improve fuel economy.”

(more…)

47 Cents a Gallon?

Petro-slump leads to price war in Northern Michigan town.

by on Jan.19, 2016

A price war in a Northern Michigan town eventually saw gas briefly dip to 47 cents a gallon. Photo courtesy WXYZ-TV.

If you think $2 a gallon gas is a bargain, imagine what the reaction was when a pair of service stations in Northern Michigan got into an old-fashioned price war this week.

The Beacon & Bridge Market, in the town of Houghton Lake, was first to fire a shot, dropping the price of regular unleaded to just 78 cents a gallon. A neighboring station quickly responded and, for a brief while, motorists were able to fill up for as little as 47 cents a gallon, according to a report from a TV station in the nearby town of Clio.

Subscribe Now!

According to GasBuddy.com, the two stations are now back up a bit, just slightly over $1.50 a gallon. Michigan, as a whole, is now averaging just under $1.70, according to tracking site GasBuddy.com, and the U.S., as a whole is down to $1.873 as of the afternoon of January 19th.

(more…)

Gas Prices Remain on Downward Track for 2016

Lack of demand and plenty of supply equates to low prices in foreseeable future.

by on Dec.29, 2015

Gas prices are expected to continue falling into the new year as demand remains low.

The big bust in gasoline prices that saved American motorists an average of $500 each during 2015, shows every sign of continuing into the New Year as gasoline prices sit at their lowest point since the great recession.

Drivers paid the lowest averages for the Christmas holiday since 2009, and pump prices continue to hover around the $2 benchmark. Retail averages have fallen for 45 of the past 52 days, according to AAA. Despite prices moving higher by fractions of a penny on the week, the average price of $1.999 is the lowest for this date since the Great Recession.

News Now!

Monthly and yearly discounts persist, and consumers are saving five cents per gallon versus one month ago, and 30 cents per gallon versus this same date last year. (more…)

US Average for Gas Drops Below $2 a Gallon

National prices at lowest levels since 2009.

by on Dec.22, 2015

The U.S. average price for a gallon of gas has dropped below $2 and is expected to continue sliding into next year.

The price of gasoline continues to slide as the Christmas holiday approaches and are poised to go even lower as the global price of crude oil continues to fall, setting the stage for further decline in pump prices.

U.S. average gas prices dropped below $2 per gallon for the first time since March 25, 2009, during the depths of the great recession, according to AAA’s survey of gasoline prices nationwide. The national average price of gas had dropped to $1.998 per gallon.

News You Can Trust!

AAA estimates that cheaper gas prices have saved Americans more than $115 billion on gasoline so far this year, which works out to more than $550 per licensed driver. Marshall Doney, AAA’s president and CEO, noted, “The lowest gas prices in nearly seven years are a holiday gift that few consumers could have imagined when gasoline was $4 a gallon.” (more…)

Fuel Prices Could Be in For Even Sharper Decline

Petroleum at $20 a barrel forecast, Pump prices could dip toward $1 a gallon.

by on Dec.09, 2015

A variety of factors, including the current El Nino, could drive the price of gas to just above $1 a gallon in the months ahead.

Fuel prices have tumbled to their lowest levels since 2007 in recent days, with much of the country now paying less than $2 a gallon – but if some new forecasts are correct, motorists might soon see figures plunging to little more than $1 a gallon.

Gasoline futures fell to near seven-year lows in New York trading this week, and with traders racing to sell of their holdings in crude oil, some observers are worried that the price of a barrel could tumble to half of the $40 to $45 figure seen in recent days.

Your Inside Source!

A variety of factors are at work, among them a glut of oil production, the decision by OPEC not to enact new production caps, and even the effects of El Nino, a warming of the Pacific Ocean expected to result in warmer temperatures in the U.S. – and thus, lower need for heating oil. (more…)

Gas Prices Continue Tumbling in November

National average expected to be below $2 a gallon by Christmas.

by on Dec.02, 2015

Repairs on Midwest refineries are now complete, driving down gas prices in many Midwestern states.

Gasoline prices continue to tumble in the wake of the Thanksgiving Holiday as average price nationwide dropped to $2.04 per gallon, which is within fractions of a penny of the multi-year low reached back in January.

The national average is tracking to fall below the $2 per gallon benchmark by Christmas. Gas prices are down three cents per gallon for the week, 14 cents during the last month and 74 cents compared to a year ago, according to the latest survey by AAA.

Subscribe for Free!!

The decline in gasoline prices has helped fuel the boom in sales of trucks and utility vehicles, which tend to be less fuel efficient than midsized or compact passenger cars. (more…)

Gas Prices Remain Low, Drive Big Vehicle Sales

Six states with prices below $2 a gallon.

by on Nov.12, 2015

Gas prices continue to remain low, which helping to drive sales of large trucks and SUVs.

Despite creeping up two cents per gallon as refinery maintenance reduced availability in some parts of the country, gasoline prices remain low by recent standards, which has helped feed a boom in sales of trucks and utility vehicles.

Even after the slight increase in average pump prices, drivers continue to benefit from substantial discounts as prices drop to the lowest price for this same date since 2006, according to AAA.

Stay on Top of Fast Changes!

Consumers are saving 10 cents per gallon month-over-month and 72 cents per gallon year-over-year. The national average has moved lower for 24 of the past 30 days and is down 59 cents per gallon versus the 2015 peak price of $2.80 per gallon back in June. (more…)

Falling Gas Prices Save Drivers $1.4 Bil

Experts predict averages dropping below $2 per gallon by Christmas.

by on Sep.09, 2015

Gas prices continue sliding with some experts predicting the national average falling below $2 per gallon by Christmas.

Gasoline prices are heading downward with the official end of the summer driving season as prices fell by 6.8 cents per gallon, on average across the nation, according to data collected by GasBuddy.com, which is now predicting the average price of gasoline could drop below $2 per gallon by Christmas.

GasBuddy estimated that Americans saved $1.4 billion over the four-day weekend as gasoline prices dropped to their lowest point in decade. In the wake of the Labor Day holiday gas prices stood at $2.38.1 cents per gallon, which was 22.3 cents per gallon lower than a year ago, according to GasBuddy.

A Smart Source for Auto News!

The price is now more than $1.05 lower than it was just a year ago and in some towns in Texas, Louisiana, Mississippi, Alabama, Arkansas and Tennessee gasoline has dropped below $2 per gallon and more price cuts are expected nationwide. Pump prices slipped below $2 per gallon in South Carolina, the nation’s least expensive market for gasoline, over the weekend and drivers are currently paying an average price of $1.97 per gallon, according to AAA’s weekly survey. (more…)

Summer Travel Likely to Rise as Gas Prices Fall

Pump price expected to drop as oil stabilizes.

by on Jun.05, 2015

Gas prices are their high-water mark for 2015, but are expected to fall as crude oil prices stabilize.

The national average price of gasoline is $2.75 per gallon, which is the highest average of the year, according to the latest survey by AAA.

However, there is a good chance that average U.S. gas prices will drop soon due to stabilizing crude oil costs and as refineries complete seasonal maintenance, which would result in the cheapest summertime gas prices since 2009, the company suggested.

Your Reliable Source!

At the same time, the average fuel economy of new vehicles sold in the U.S. continues to improve, according to a new survey from the University of Michigan. (more…)

Gas Prices Continue Dropping during Holiday Season

South Carolina cheapest for gas, while California most expensive.

by on Apr.08, 2015

Gas prices have dropped steadily during the last 30 days and are more than $1 cheaper than a year ago.

Even with the Easter and Passover holidays at hand, the national average price for regular unleaded gasoline continues to drop.

AAA reports gasoline prices have fallen for 24 of the past 30 days, after reaching a peak-to-date price for 2015 of $2.46 per gallon on March 7. The price at the pump continues to reflect seasonality as refineries complete scheduled maintenance and prepare for the summer driving season, according to the latest estimate by AAA.

Automotive Insight!

AAA calculated this week the national average price at the pump is $2.39 per gallon, which represents a savings of three cents versus one week ago and seven cents versus one month ago. Consumers continue to experience significant year-over-year savings in the price of retail gasoline and are saving $1.19 per gallon compared to this same date last year. (more…)