Gas Prices

Rising Gas Prices Blamed On Recent Inflation

2009-02-20T08:46:00.000-08:00

LAKE MARY, Fla. - The government blames rising gas prices on an unexpected surge of inflation in January.

Currently, the national average is $1.96 per gallon. The average price in Florida is $2.

In Orlando, the average is $1.95.

AAA said all the information it received does not indicate that the gas prices will go back to $4, but no one knows.

Part of the increase is due to fewer miles being driven and less gasoline being consumed, AAA said.

Since the beginning of the year, the average price of regular gasoline has gone up 35 cents a gallon nationally.

Read Article:MSNBC
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Cheap gas is history, again

2009-02-13T10:34:00.000-08:00

NEW YORK (CNNMoney.com) -- The days of cheap gas are retreating into the rearview mirror, as prices continue to roll uphill, flirting with the $2-per-gallon mark.

The national average price for a gallon of unleaded gasoline reached $1.952 Thursday, according to the motorist group AAA. This is bad news for the growing ranks of jobless Americans, who are pinching pennies and looking for ways to cut costs.

Read ArticleCNN Money
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Crude falls below $40 for first time in 2009

2009-01-09T09:37:00.001-08:00

COLUMBUS, Ohio – Oil prices fell below $40 per barrel Friday for the first time this year as the government reported the nation's worst annual job losses since World War II.

People are traveling less, manufacturers are slashing production and there are job cuts across almost every sector of the economy, leading to a severe drop-off in energy use.

Read ArticleYahoo Money
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Gasoline prices begin stabilizing

2008-12-19T14:46:00.000-08:00

Retail gasoline prices are leveling off just as the holiday travel season gets under way, according to AAA Texas.

After weeks of double-digit drops in prices across the state, a gallon of regular unleaded gas fell just a penny this week to $1.56.

Nationally, prices were up a penny on average to $1.67 a gallon.

Read Full Article: Busines Journal

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Gas prices spiral lower

2008-12-10T08:07:00.000-08:00

NEW YORK (CNNMoney.com) -- The average price of gasoline in the U.S. continued its downward spiral for the 84th day, according to a daily survey of credit card swipes.

The price of regular unleaded fell 1.5 cents to $1.683 a gallon on average Wednesday from $1.698 the day before, according to motorist group AAA.

Prices are now more than $2 lower than they were when they hit a record-high average of $4.114 a gallon on July 17.
Read Full Article: CNN Money
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Gas prices fall below $1.87

2008-11-26T11:04:00.000-08:00

Gasoline prices declined for the 70th straight day, falling below the $1.87 per gallon mark, according to a national survey of credit card swipes at gasoline stations.

The national average fell 1.7 cents, sinking to the lowest level since Jan. 27, 2005, according to motorist group AAA. Over the last 70 days gas prices have plummeted 52%.

Prices at the pump have dropped $1.223 per gallon from a year ago and are now down 55% from the record-high of $4.114 per gallon reached in mid-July.

Read full article:CCN Money.com
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Enjoy gas price reprieve

2008-11-07T14:27:00.000-08:00

If you're driving around with the top down and a tank full of cheap gas, enjoy it while it lasts.

Gasoline prices today are expected to head back up after falling to levels not seen in nearly three years. Toronto-area prices are set to reach about 89 cents a litre this morning, up 4 cents from yesterday, according to the website of consumer affairs opposition critic Dan McTeague. The Liberal MP for Pickering-Scarborough East tracks gas prices and asserts consumers are paying more than they should.

Read Full Article:The Star
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Oil falls on demand fears

2008-10-31T12:41:00.000-07:00

Oil prices fell below $65 a barrel on Friday as a slew of negative economic data sparked further concern that American consumers and businesses would demand less fuel.

U.S. crude for December delivery fell $2.25 to $63.71 a barrel in electronic trading.

Worries about falling fuel consumption in the U.S., the world's largest oil consumer, have driven the crude price down more than 50% from its record high of $147.27 a barrel in mid-July.

Read Full Article: CNN Money
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Cheaper gas not the answer

2008-10-24T15:28:00.000-07:00

Gas prices have tumbled 30% from their record high in July and are poised to fall further. But economists say that cheaper gas won't be enough to revive a struggling economy.

No one doubts that lower prices are putting extra dollars back into consumers' pockets. With the average price of gas costing about $2.86 a gallon, or $1.25 a gallon less nationwide than it did at the peak in July, that translates into nearly $500 million a day in savings on gas purchases.

Read Full Article:CNN Money
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No fuel price reduction this time; cooking gas prices to increase by P2/kg

2008-10-03T09:02:00.000-07:00

For the first time in two months, oil companies may not reduce pump prices this weekend due to a slight increase in world oil prices and the weakening peso.

Zenaida Y. Monsada, director of the Energy department’s Oil Industry Management Bureau, yesterday noted that the benchmark Dubai crude average price rose less than $2 from September. As of Oct. 2, Dubai crude averaged $95.90 per barrel.

Flying V President Ramon F. Villavicencio confirmed that higher world oil prices and a weaker peso were reasons for oil companies to hold back in further cutting prices. Flying V is one of the smaller oil companies

Read Full Article: Busines World
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Russian gas price hits record before Ukraine talks

2008-10-03T09:00:00.000-07:00

MOSCOW, Oct 1 - Russian gas giant Gazprom, on the eve of critical talks with Ukraine's prime minister, said on Wednesday that its export gas price for Europe has reached an all-time high of over $500 per 1,000 cubic metres.

Chief executive Alexei Miller's statement amounted to serving notice to Prime Minister Yulia Tymoshenko that she would get no easy ride in her bid to secure a deal to shield Ukrainian industry from an abrupt increase to market levels.

Read Full Article:Kyiv Post
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'Blood oil' dripping from Nigeria

2008-10-03T08:58:00.000-07:00

Under cover of night dozens of barges queue up to dock at a jetty in a creek somewhere in Nigeria's oil-rich Niger Delta.

Their holds are filled with stolen oil running from valves illegally installed into a pipeline.

Full, they chug downstream to meet around 10 larger ships near the oil export terminal in Bonny, Rivers State, where they disgorge their cargo.

Read Full Article:BBC News
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Chavez Hails Oil Cooperation With China, Blasts US

2008-09-26T09:52:00.000-07:00

China and Venezuela hailed rising oil exports and growing energy cooperation during a visit to Beijing by Venezuelan President Hugo Chavez that lent him a new platform from which to criticize Washington.

Chavez said oil exports to China could soar to 1 million barrels a day by 2012, up from 330,000 per day now.
Read Full artivleABC News
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Russia, Venezuela Sign Oil and Gas Deals

2008-09-26T09:45:00.000-07:00

Russia and Venezuelan officials on Friday signed agreements meant to bolster cooperation in the oil and gas industry, playing up energy ties between two nations trying to decrease U.S. influence around the world.

Read Full articleABC News
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Why gas prices will keep on rising

2008-09-25T09:04:00.000-07:00

Gasoline prices have moved into record territory and are not likely to ease significantly anytime soon, leaving millions of consumers to wonder what's driving gas prices and when they will start coming down again -- if ever.

Read full article: MSN Money
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Ike hike: Gas price in Indiana sets record

2008-09-16T15:39:00.000-07:00

Gas prices across Indiana reached $4.17 on average today, leaving motorists paying a record price at the pump.

AAA and Oil Price Information Service today said the price rose 5 cents from Monday, breaking the previous mark at $4.16 established on July 17.

Two months ago it was the rising cost of oil that played a part in the record. Now it's an issue of availability, as Hurricane Ike caused a short-term fuel supply hiccup; a shutdown cut already threadbare gasoline inventories.

Read full article.IndiStar News

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Gas Buddy!!!

2008-09-16T13:29:00.000-07:00

Find out the lowest gas prices around the US and Canada!

Gas Buddy

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Oil's fall to $100 won't change frugal energy use

2008-09-12T15:16:00.000-07:00

The worst oil shock since the 1970s has put a permanent mark on the American way of life that even a drop in oil's price below $100 a barrel won't erase.
Public transportation is in. Hummers are out. Frugality is in. Wastefulness is out.
Although oil prices dipped beneath the $100 mark Friday for the first time in five months, it still isn't cheap and Americans have long memories. They are saddled with debt, high food costs and home prices worth far less than two years ago...

Read full article AZ central

posted by: jva-
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