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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…)

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.

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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 Fall as Labor Day Approaches

Prices expected to remain low as Saudi Arabia keeps production high.

by on Sep.03, 2015

Gas prices are expected to continue falling for some time as Saudi Arabia is unlikely to cut production.

With the Labor Day holiday looming, the price of oil continues to bounce around on global markets.

However, the price of gasoline continued to drop across the country and most drivers should find themselves paying the lowest Labor Day weekend gas prices since 2004. The national average price for regular unleaded gasoline has fallen for 14 consecutive days for a total of 20 cents per gallon, according to AAA.

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Market fundamentals remain bearish, even as oil prices staged a rally late last week that pushed prices a bit higher compared to early-week trading sessions where both Brent and WTI exceeded multi-year lows. (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.

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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…)

OPEC Claims No Price Target Set for Oil

U.S. production expected to increase next year, keeping prices low.

by on Dec.15, 2014

Abdalla Salem el-Badri, OPEC's top leader, said the organization has not set a target price for oil.

Despite speculation that OPEC is manipulating oil prices, the organization has no set price target for oil and will let the market determine what it should cost, said Abdalla Salem el-Badri, head of the Organization of Petroleum Exporting Countries, according to the Wall Street Journal.

The price of gasoline has plunged, again, on the heels of fresh turmoil in the global energy markets, which has continued to unnerve trade and equity markets around the world.

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The AAA Gas Gauge estimated Sunday that gasoline price across the United States have dropped another 12 cents in the past week and could drop another 17 cents by Christmas according to AAA. Gasoline prices fell, following another drop in the price of crude oil, which has dropped by 41% since the end of 2013. At the end of last week, crude oil was trading for $57.49 a barrel. (more…)

OPEC Ensures Fuel Prices to Remain Low

Production levels remain unchanged, pushing down price at pump.

by on Dec.02, 2014

Gas prices aren't going to drop to levels when you got it out of this pump, but they're expected to hit five-year lows.

The price of gasoline is expected to drift lower in the wake of the Organization of Petroleum Exporting Countries’ (OPEC) decision to maintain production at its current level. Not only are prices expected to remain low, the decision could have far-reaching effects around the world.

In fact, the OPEC decision on Thanksgiving Day could lower the price of gasoline throughout 2014 and into 2016, if OPEC doesn’t reverse course and the lower prices don’t undercut the drilling boom in the U.S.

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It also could become a challenge for carmakers, which are facing pressure to boost fuel economy of all new vehicles and possibly a global recession from what has become a reverse oil shock. (more…)

Lower Fuel Prices Likely to Last Awhile

Saudis taking short-term loss for long-term gain.

by on Oct.14, 2014

Gas prices in the U.S. are on the decline and the lower prices may be around for a while.

If you’ve got to fill up your tank for the daily commute, you might not dread watching the numbers spin on the pump these days, at least not as much as you did earlier in the year when prices nudged $4 a gallon in many parts of the country.

Motorists in Missouri, for example, are now paying an average of just $2.877 a gallon, according to a survey by, the lowest figure in the country. But the tracking site found that eight other states have dropped below the $3 mark, with some estimates predicting as many as 30 could dip below that figure in the weeks to come.

Fueling Up the News!

The current downturn might last for some time, according to the federal agency tasked with tracking energy trends. Meanwhile, a wire report out of the Mideast indicates that the government of Saudi Arabia is quietly sending out signals that it won’t take steps to boost fuel prices for as much as a year or more. (more…)

US Gas Prices Take Big Dive Last Month

Drop comes despite unrest in Middle East.

by on Jul.29, 2014

Not that drivers of the Jetta Hybrid were getting gas often, but now they're paying even less as prices at the pump have dropped.

Despite the tension in the Middle East, gasoline prices have dropped more than 16 cents per gallon in the past month, according to records compiled by AAA.

Gasoline prices vary by region but overall the average price for regular gasoline dropped more than 9 cents per gallon in the two weeks ended July 25 to $3.5795 a gallon, according to Lundberg Survey Inc., which surveys about 1,200 gasoline stations around the country.

Fueling Up on News for Less!

A recent U.S. Energy Information Association report indicated the average price of crude oil dropped by $1.04 per barrel and estimated average price of regular gasoline fell by 6 cents per gallon across the United States in the past week and is now 10.7 cents per gallon cheaper from a year ago before the turmoil began.


Looming Crisis in Middle East Could Spike Gas Prices

Iraq falling into state of disarray and oil price expected to rise.

by on Jun.16, 2014

Gas prices are expected to rise in the near term due to the unrest in Iraq.

As a new crisis looms in the Middle East where a Jihadist army has seized territory from the government of Iraq, oil prices – and ultimately the price of gasoline – are expected to move upwards, putting pressure on the consumers and automakers.

Oil prices have risen to the highest level this year over fears of the violence disrupting exports from Iraq, which is a leading member of the Organization of Petroleum Export Countries (OPEC) member.

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While services such as haven’t reported any big movements in gasoline prices across the U.S., analysts are expecting gasoline prices to rise by as much as 10 cents per gallon. The fighting in Iraq also could spell the end of several months of stable gasoline prices, which have been a boon to automakers as sales of pickup trucks and utility vehicles have increased during the past 12 months. (more…)

Fuel Economy Continues to Rise for New Vehicles

New oil production in U.S. offsetting need for foreign imports.

by on Dec.13, 2013

Ford's EcoBoost engine family is helping to improve U.S. fuel economy.

The fuel economy of new vehicles sold in the United States set a record for efficiency during model year 2012 as vehicles reached an all-time high fuel economy of 23.6 miles per gallon, the U.S. Environmental Protection Agency has reported.

The 23.6 mpg figure represented a 1.2 mpg increase over the previous year, making it the second largest annual increase in the last 30 years. Fuel economy has now increased in seven of the last eight years, according to the EPA.

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“Today’s new vehicles are cleaner and more fuel efficient than ever, saving American families money at the gas pump and helping to keep the air that we breathe cleaner,” said Janet McCabe, Acting Assistant Administrator for EPA’s Office of Air and Radiation. “Each year new technologies are coming on line to keep driving these positive trends toward greater and greater efficiency.” (more…)