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Posts Tagged ‘gasoline news’

Jaguar Teaming With Shell for In-Car Payment System

System offers increased security of financial information.

by on Feb.15, 2017

Jaguar and Shell teamed up to allow Jag – and Land Rover – owners to use the InControl to pay for gas without need for cash or a credit card on hand.

Today’s infotainment systems will tell you everything from how long it will take you get home to where the cheapest gas prices are located. Now, if you drive a Jaguar, it’ll even pay for the gas once you get there.

A new partnership between Jaguar and Shell allows drivers with the luxury brand’s InControl infotainment system to pay for gas without ever busting out a credit card or cash.

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“In a world where cash is no longer king, customers are increasingly using electronic payments and contactless cards,” said Peter Virk, Jaguar Land Rover’s director of Connected Car and Future Technology. (more…)

After Steady December Climb, Gasoline Prices Retreat in January

U.S. production levels continuing to increase.

by on Jan.31, 2017

Gas prices fell for the first part of January as U.S. production levels increased.

After climbing during the last month of 2016, the price of gasoline has retreated for the past three weeks, dropping to $2.27 per gallon, which is down four cents per gallon from a week earlier, according to the survey by AAA.

AAA said the growth in the number of U.S. oil rigs and the increased drilling it implies are raising expectations for a climb in domestic oil production.

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Meanwhile, increased U.S. crude oil production and reduced demand has exerted pressure on the national average price at the pump, which has fallen for 21 consecutive days, AAA said. (more…)

Gas Prices Starting to Fall in October

Some parts of country still over $2.50 a gallon.

by on Oct.20, 2016

Unexpected refinery maintenance has caused prices in some areas to rise slightly, but gas prices are down on average.

The national average price for regular unleaded gasoline has dropped for nearly two weeks after a brief spike during September, according to the information collected by AAA.

Unleaded gasoline was selling for $2.23.5 cents per gallon this week, AAA reported. The average price represents a decrease of two cents per gallon compared to one week ago, but remains five cents more than last month.

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Drivers across the country continue to see savings at the pump and are paying an average of three cents less per gallon year-over-year while the price of crude oil remains well below its historical highs, AAA said. (more…)

Pipeline Rupture Causing Gas Shortages

Areas of Georgia, Tennessee impacted immediately.

by on Sep.19, 2016

A ruptured section of pipeline in Alabama is causing gas shortages in some parts of Georgia.

A major pipeline that carries gasoline to the Eastern United States ruptured in Alabama, forcing part of it to shut down. The closure is threatening to drive up prices and create spot shortages of fuel along the Atlantic Coast and in the Southeastern United States.

A section of the Colonial Pipeline, which runs from Houston to New York, has been closed since Sept. 9, after a spill of roughly 250,000 gallons was discovered in rural Shelby County, Alabama.

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The pipeline, one pipe of which has been severed, provides gasoline for an estimated 50 million people on the East Coast each day, according to company estimates. The cause of the leak has yet to be determined, according to the company’s most recent statement. (more…)

Gas Prices Falling as Summer Driving Season Ends

Look for slide to continue as demand drops.

by on Sep.15, 2016

Gas prices are falling as the summer driving season has ended and demand is dropping.

The price of gasoline at retail pumps around the nation has tumbled since Labor Day as the price of crude oil remains low across the globe and refineries begin switching over to winter blends, which are less expensive to produce, according to AAA.

At the same time, the surge in driving in recent months has cut into inventories, but stock remain high and crude oil producers continue to produce despite low prices, the Energy Information Agency reports.

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AAA reported that gas prices have fallen for 11 of the past 12 days, reaching today’s average of $2.18 per gallon. Drivers are saving two cents per gallon compared with one week ago, but are paying five cents per gallon more on the month.  (more…)

Gas Prices Ascending into Labor Day Weekend

Rising crude prices and Louisiana floods causing price jump.

by on Aug.31, 2016

With the Labor Day weekend looming, gas prices continue to rise.

Gasoline prices continue to move upwards heading into the Labor Day weekend.

After dropping for two months, including a streak of 53 out of 54 days, pump prices are increasing and the national average price for regular unleaded gasoline has risen for 14 consecutive days, according AAA.

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The average price of $2.22 per gallon nationwide marks an increase of six cents per gallon compared to one week ago and eight cents per gallon compared to one month ago, AAA reported. Despite the increase, drivers are paying 27 cents less than they did at this same time last year and are on track to pay the lowest Labor Day gas prices since 2004. (more…)

Gas Prices Ticking Upward as Summer Ends

If demand drops after Labor Day, prices are expected to follow suit.

by on Aug.25, 2016

Gas prices rose for the first time in months in August; however, if demand drops after Labor Day, prices are likely to follow.

A rise in the price of crude oil has pushed up the price of gasoline at pumps across the United States for the first time in two months.

The increase follows a summer-long streak during which the national retail average price of gasoline dropped on 54 of 55 days. But prices at the pump have now increased steadily during the past three weeks, according to AAA.

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The national average price for regular unleaded is $2.16 per gallon, which is four cents more than one week ago, but is two cents less than a month ago and 46 cents less than the same date last year, and the lowest price for this date since 2004, AAA said. (more…)

Gas Prices to Remain Low Through Labor Day

Some OPEC members pushing to raise oil prices.

by on Aug.18, 2016

Despite Americans racking up the miles at record levels this summer, gas prices are expected to remain at record lows.

With the end of the summer travel season drawing near, the price of gasoline continues moving downwards, according to a new survey by AAA, even as the long slide in the price of crude oil shows signs of coming to an end.

AAA said the average price for regular unleaded gasoline nationally was $2.12 per gallon, which is the lowest price for this date since 2004 although it is a fraction of a penny more than one week ago. The price is nine cents less than one month ago and 54 cents less than the same date last year, AAA reported.

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Meanwhile, reports from the Middle East indicate that for the first time in more than two years some members of the Organization of Petroleum Exporting States, or OPEC, are now considering reducing the daily output of crude oil in a bid to drive up prices. (more…)

Gas Prices Leveling Off as Refineries Ramp Up

Production back to normal output.

by on May.10, 2016

After climbing upward to a six-month high in early May, gasoline prices seem to have stabilized.

After reaching its highest point in six months in early May, the price of gasoline is showing signs of leveling off, ending the steep climb that raised the average price of gasoline as the spring driving season picked.

The price of gasoline at the pump declined slightly during the past week, according to the AAA. The group also said it is possible that prices have begun to stabilize as refineries increase production to meet record-high demand.

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The average price of $2.21 per gallon represents an increase of 17 cents per gallon on the month, and prices have moved higher for 23 of the past 31 days. (more…)

Breakdown of Oil Talks May Stem Tide of Rising Gas Prices

Crude oil expected to fall by as much as $7 a barrel.

by on Apr.18, 2016

The breakdown of talks aimed at stabilizing oil production may cut crude oil prices and stem the tide of rising gas prices in the U.S.

Oil exporting nations, including non-OPEC Russia, gathered in Doha to ratify a deal to stabilize output at January levels until October. However, despite the fact that the outline of the deal had been approved by negotiators in advance, it still fell apart.

The collapse of the talks, which were aimed at slowing down oil production around the globe, renewed the downward pressure on the price of crude oil, which eased the upward pressure on the price of gasoline across the U.S. despite rising demand.

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The deal crumbled when OPEC heavyweight Saudi Arabia demanded that Iran join in despite its repeated assertions it would not do so until it had reached pre-sanctions levels of output, according to Reuters. (more…)