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Posts Tagged ‘gas news’

Shortages Cause Latest Jump in Gas Prices

Canadian forest fires cutting crude oil exports to U.S.

by on May.25, 2016

Canadian forest fires have cut exports of crude oil to the U.S., causing gas prices to rise to their highest average this year.

Gas prices are at their highest point for the year with the biggest jump in prices coming in the upper Midwest where the forest fires in the Canadian Tar Sand Region have crippled exports of crude oil to Midwestern refineries.

AAA noted in its weekly report on fuel prices that with the approach the Memorial Day holiday, the national average has increased for 12 days in a row an average of $2.28 per gallon is up six cents per gallon on the week and 15 cents per gallon on the month.

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The nation’s top five most expensive markets are: California at $2.80 per gallon, Hawaii at $2.66 per gallon, Washington at $2.59 per gallon, Alaska at $2.58 and Nevada at $2.49. In addition, for the first time since August 2015, drivers in every state and Washington, D.C. are paying averages above $2 per gallon, according to AAA. (more…)

Summer Blend Makes Gas Prices Rise

Refineries shifting to special seasonal mix.

by on Apr.05, 2016

Gas prices are on the rise as producers move to the summer blend of fuel.

With the summer driving season fast approaching, the price of gasoline continues to climb, pushing the average price beyond $2 per gallon, according to a new report by AAA.

Despite increasing for 36 of the past 41 days, the national average is at its lowest price point for this same date since 2009, according to AAA.

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“The average price of $2.06 per gallon represents an increase of two cents on the week and 24 cents on the month. Pump prices continue to reflect year-over-year discounts, and drivers are saving 34 cents per gallon versus this same date last year,” the organization noted. (more…)

Gas Prices Crawling Upward as Oil Prices Stabilize

Consumers paying six cents more at pump this week.

by on Mar.09, 2016

With oil prices stabilizing, consumers are finding they're paying more at the pump for gas.

With signs that the price of petroleum has begun to stabilize, the price of gasoline continues to climb across the U.S., according to AAA.

The national average price jumped six cents on the week, the largest one-week increase since the beginning of the year, and the average price of gasoline now stands at $1.81 per gallon.

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AAA reported the national average is likely to continue to move higher due to spring turnaround activity and reductions in supply in select regional markets. However, significant yearly discounts remain and pump prices are down 65 cents on the year, AAA said. (more…)

Gas Prices on the Rise in the US

Rising crude oil prices, refinery maintenance pushing the increase.

by on Mar.03, 2016

Gas prices are beginning to rise as crude oil prices continue to move upward and the spring refinery maintenance season starts up.

After declining throughout the winter, gasoline prices have started to rise in the last couple of weeks as the price of crude oil inches up and refineries begin getting ready for the spring driving season.

The national average price of gas has increased for six consecutive days for the first time since early November, though drivers continue to enjoy relatively low prices at the pump, AAA reported.

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Prices at the pump have climbed by four cents per gallon versus one week ago and are likely to continue to rise as the spring refinery maintenance season ramps up. Monthly and yearly savings persist and drivers are saving five cents on the month and 65 cents on the year, AAA said. (more…)

Gas Prices Remain Low Despite Storms

West Coast only area over $2 per gallon pricing.

by on Jan.27, 2016

Gas prices are below $2 a gallon across the country due to low crude prices with only the West Coast still above $2.

Even as intense winter storms system swept through the Southeast and Mid-Atlantic states, the price of gasoline continued to drop across the United States, according to new survey from AAA.

Average gas prices have spent 25 consecutive days below $2 per gallon and could head lower still as reduced seasonal demand and falling crude oil costs combine to send pump prices to the lowest mark in six years.

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Today’s average price of $1.83 per gallon is the cheapest price since January 2009, and retail averages have fallen for 69 of the past 80 days for a total savings of 40 cents per gallon over this span, AAA reported. (more…)

Low Gas Prices Causing Average MPG to Fall

Less efficient truck, SUV sales on the rise.

by on Jan.15, 2016

As sales of full-size trucks, like the F-150, continue to tick upwards, fuel efficiency averages for new vehicles slides downward.

The price of gasoline is now sitting at its lowest point in the better part of a decade even as new crises ripple through the key oil producing regions of the Middle East

Gas prices continue to drop to multi-year lows, with average price of $1.93 per gallon representing the cheapest average price at the pump since March 23, 2009, according to surveys by AAA.

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They have fallen for 55 of the past 66 days for a total savings of 26 cents per gallon and should remain relatively low because there is more than enough oil and gasoline around the world to meet demand.  (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.

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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…)

Autonomous Driving May Help Save Fuel

U-M teaming with two labs to conduct study.

by on Nov.19, 2015

By 2017, the Cadillac CTS will be equipped with V2V technology. Might that technology not only improve safety, but also save fuel?

Adding autonomous driving and vehicle-to-vehicle communication capability is expected to make driving safer and shorten commuting times.

But now the University of Michigan and the Argonne National Laboratories outside of Chicago and Idaho National Laboratory are teaming up to see if the V2V technology also can help motorists save fuel.

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The university and two U.S. Department of Energy (DOE) national laboratories plan to collaborate on a study to determine if connected and automated vehicles could help people drive more efficiently. (more…)

Gas Prices Remain Steady, but OPEC Expects 2016 Rise

Cartel claims plans to get prices back up are working.

by on Oct.14, 2015

Gas prices held steady last week, but OPEC says prices will rise in 2016.

Gasoline prices basically held steady during the past week but the Organization of Petroleum Exporting Countries said the week its basic strategy that could lead to higher prices next year is beginning to work.

After 13 consecutive days of holding steady at $2.29 per gallon, the national average price for regular unleaded gasoline began ticking higher last week, reaching $2.31 per gallon.

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The average represents an increase of two cents per gallon compared to one week ago; however, prices have fallen for 46 of the past 56 days for a total of 36 cents per gallon. (more…)

Gas Prices Continue Slide Toward $2 per Gallon

Low crude prices, demand push prices down.

by on Sep.23, 2015

Gas prices haven't dropped to what they were the last time this place pumped gas, but they're cruising toward $2 per gallon.

Autumn officially begins today and gasoline prices continue to drop as the average price of fuel across the United States has dropped for 35 consecutive days for a total savings of 38 cents per gallon, according to the latest survey by AAA.

The average price of $2.29 per gallon represents a weekly savings of four cents per gallon and a monthly savings of 33 cents per gallon. Motorists are saving $1.05 per gallon compared to one year ago, largely due to the relatively low price of crude oil and abundant petroleum supplies, AAA reported.

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This past summer was characterized by relatively high driving demand and refineries operated at higher capacities for longer periods of time. As a result, many are expecting the fall maintenance season to be heavier than usual. Barring any unexpected spikes in the price of crude, retail averages are not expected to climb this fall due to the market’s current oversupply, according to AAA. (more…)