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Fuel Prices Expect to Fall – Barely – For Summer

Energy Dept. forecasts meager one cent year-over-year decline.

by on Apr.08, 2014

Gas prices are expected to drop slightly this summer, according to the U.S. Dept. of Energy.

Expect to pay less for gasoline this summer than you did a year ago – but just barely, says the U.S. Department of Energy.

The Energy Information Administration predicts the typical American motorist will shell out $3.57 for a gallon of self-serve no-lead gasoline, a penny per gallon cheaper than during the April to September period last year.

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“That’s essentially the same number,” said EIA Administrator Adam Sieminski during a conference call with reporters. But the good news is that this will be the lowest fuel price motorists have paid since 2010 during the period when driving peaks in the U.S. (more…)

Gas Prices Rising with the Mercury

Blame shortages of ethanol additive.

by on Mar.24, 2014

It's been a tough winter for ethanol.

It’s been a frigid winter in much of the country, but with the weather finally warming, motorists may now have something else to complain about – fuel prices rising along with the mercury.

With winter showing signs of easing its grip on parts of the nation, the average price for regular unleaded gasoline at U.S. pumps rose 4.74 cents over the past two weeks to $3.557 a gallon, the highest figure since Sept. 20, according to Lundberg Survey Inc.

Fuel for Thought!

The good news is that the average price of gasoline is still 15.02 cents below what it was a year ago at this time a year ago, according to the Lunderg survey, which has long tracked petroleum trends, and based its report on information obtained at more than 2,500 filling stations across the country.

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Gas Prices off to Bad Start – 2014 Opens at Record Level

But forecast is for stable or even lower prices this year.

by on Jan.02, 2014

It'll cost you more to use one of these this week.

Though gas prices ended the year well below their 2013 peak, the New Year is off to a poor start, 2014 is off to a bad start, motorists in much of the country paying the highest price on record for the start of the year.

There have been a number of recent reports suggesting that with oil production rising – especially in the U.S. – the cost of fuel could hold steady or even decline over the next several years. But as the holiday season comes to an end, motorists aren’t catching a break.  According to AAA, the week began with prices across the U.S. averaging $3.31 a gallon for regular no-lead gas.

Fill 'er Up!

It was the fifth consecutive January 1 that Americans paid more at the pump than the year prior and the fourth straight year with a new record to start the year, according to AAA. The national average prices to begin 2011, 2012 and 2013 were $3.07, $3.28 and $3.29 respectively.

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Motorists May Be in for Long-Time Relief on Fuel Prices

Credit burgeoning supplies of oil, experts suggest.

by on Dec.18, 2013

Motorists are using a lot less fuel these days - which is contributing to lower pump prices..

Might memories of skyrocketing fuel prices be a think of the past?  With pumps in a growing number of states now set at less than $3.00 a gallon, several new reports suggest that motorists might be in for a break in the months – perhaps even years – ahead.

That said, experts caution that a variety of factors could still hammer motorists – and the economy, whether short-term problems with refineries and pipelines or more serious issues, such as disruptions in the Mideast.

Fuel Up!

“We expect we’re going to see crude oil prices (continue to) fall for a while,” said Charles Chesbrough, a senior economist with IHS Automotive, a position echoed by a growing number of other studies, including a new report from the U.S. Energy Information Agency, or EIA.

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Oil Prices Heading Up – And Could Hit $4 by Summer, Warns DoE

But threat of big shock seems minor, government adds.

by on Feb.02, 2011

Expect to pay more, but government analysts say the feared surge to $4 a gallon is unlikely in 2011.

Be prepared to see the price at your local pump push towards $4 a gallon by the Independence Day holiday, warns the Department of Energy, in a new fuel forecast.

But the odds favor a less radical run-up, the government predicts, with only a 7% chance we’ll be paying $4 for gas this year.  Nonetheless, the DoE’s Energy Information Administration, sees it a certainty that fuel costs will keep climbing from their current level, which is average a bit more than $3 a gallon nationwide.

The EIA says the average price for a barrel of crude oil ran $89 in December 2010, and should push to $93 this year.  Considering the figure is already nudging close to $92, it raises the question of whether the government forecast is too conservative.  By the end of 2012, the forecast is $99 a barrel, which would still be well short of the record $147 hit in July 2008.

Keep On Top!

A steady climb upward would be far more acceptable, according to most economists, than the extreme peaks and valleys seen in recent years – 2008’s high point was followed by a low of $38 a barrel in December of that year.

While a senior Shell official recently warned that prices at the pump could soon be in the $5 range, the Energy Department forecast calls for an average $3.17, across the country, this year, up from $2.78 in 2010.  That is expected to climb to $3.29 a gallon in 2012.

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What if the Pumps Run Dry?

Warnings about "peak" oil are growing again.

by on Nov.30, 2009

Even some of the petroleum industry's top leaders now are warning we may be reaching a peak for global oil production.

Some of the petroleum industry's leaders now are warning, not without self interest, we may be reaching peak global oil production.

Peak oil is a controversial theory that suggests oil production is peaking and will invariably decline over the coming years, leaving the industrial world facing short supplies.

In its own way, the theory is more controversial than climate change and rests on interpretation of arcane numbers.

Indeed, there are those who point to recent finds of giant oil reserves off places like Brazil and argue that there’s far more oil left in the ground than we can imagine.  However, the peak oil advocates are now picking up support and their warnings ought to be of at least passing interest to auto industry planners, some of which have already embraced it, notably General Motors.

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In the past, anyone speaking out about oil supply challenges was usually stereotyped as a fringe element with little knowledge about the oil industry, notes a Denver-based organization called the Association for Study of Peak Oil & Gas.

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