gasoline prices

Oil

Yemen ends fuel subsidies, nearly doubling prices

SANAA, Yemen (AP) — Fuel prices in Yemen nearly doubled Wednesday as the government ended a fuel subsidy program costing billions of dollars, sparking scattered demonstrations that saw one person killed as authorities quickly dispersed protesters, security officials said.

According to new prices posted in the capital, Sanaa, the government raised the price of regular gasoline to 200 Yemeni riyals per liter (93 U.S. cents) from 125 riyals (58 U.S. cents). Diesel used for public transport and trucks rose to 195 riyals per liter (91 U.S. cents) from 100 riyals (46 U.S. cents).

Oil

Survey: US gasoline prices fall to $3.58

CAMARILLO, Calif. (AP) — A national survey finds the average U.S. price of regular-grade gasoline has plummeted 9 cents a gallon over the past two weeks to $3.58.

That's the largest drop this year.

Industry analyst Trilby Lundberg said Sunday the decrease came despite a rise in crude-oil prices.

Oil

Oil prices jump above $104; natural gas sinks

The price of oil rose more than a $1 for the third time in the last four trading days, and closed above $104 for the first time since July 3.

Benchmark U.S. crude for August delivery rose $1.46 to $104.59 on the New York Mercantile Exchange. On Friday, the Nymex contract fell 6 cents to $103.13. Oil has gained 4.6 percent over the past four trading sessions.

Brent crude for September delivery, a benchmark for international oils, gained 44 cents to $107.68 on the ICE exchange in London.

Oil

Higher gasoline costs raise US producer prices

WASHINGTON (AP) — Rising gasoline costs pushed up the prices U.S. companies receive for their goods and services in June, but overall inflation remains tame.

The Labor Department said Wednesday that the producer price index, which measures the cost of goods and services before they reach the consumer, rose 0.4 percent last month. The increase follows a 0.2 percent decrease in May.

Oil

Analysts project drop in gasoline prices

Source: 
FuelFix

Energy market analysts at GasBuddy projected that falling crude prices could push the average price of a gallon of gasoline down by 10 to 20 cents, adding to price drops that have brought the average below $3.60 per gallon, FuelFix reports.

Oil

US gasoline prices drop 4 cents to $3.67 a gallon

CAMARILLO, Calif. (AP) — A survey says the average price of a gallon of regular gasoline in the U.S. has fallen 4 cents over the last three weeks to $3.67.

Industry analyst Trilby Lundberg said Sunday that crude oil prices fell over news that Libyan output has risen and Iraq's production was not substantially harmed by recent violence.

Oil

EIA projects slightly higher gasoline spending this summer

Source: 
FuelFix

The Energy Information Administration projects this summer's average gasoline price per gallon will be $3.66, about two percent higher than last summer's average, FuelFix reports.

Oil

Oil on 2-week slide even with Mideast turmoil

NEW YORK (AP) — The price of oil fell for the ninth straight day Wednesday as global supplies continue to flow despite unrest in the world's most important oil-producing region.

The prolonged drop could lead to lower gasoline prices for U.S. drivers in the weeks ahead.

U.S. benchmark crude fell $1.11 Wednesday to close at $102.29 in New York. That's slightly lower than the price on June 6, before insurgents seized the Iraqi city of Mosul, and 5 percent below the ten-month high of $107.26 reached June 20 at the height of concerns over the insurgency. Schork expects to see oil fall further, to under $100 per barrel, in the coming weeks.

WBM Management Inc.
Oil

EIA sees greater U.S. crude production, higher international prices

U.S. crude production next year will average 9.3 million barrels a day, the highest level since 1972, according to the short term outlook released Tuesday by the Energy Information Administration.

And it expects the role of imports will continue to shrink. The EIA said the share of consumption of crude brought in from outside the country will drop to 22 percent in 2015, the lowest level, noted Administrator Adam Sieminski, in 45 years.

Associated Press
Oil

High gasoline prices still running below peaks: EIA

Gasoline prices are at their highest for a July 4th weekend in six years, but the Energy Department stressed on Wednesday that they are still below annual peaks set in the last three years and are likely to fall if Iraqi oil exports remain steady.

That may be small comfort for drivers at the pump, who are paying, on average, 20 cents more per gallon compared to a year ago.

But it could be worse: The national average price for regular unleaded of $3.70 on Monday was still a penny below this year's high set on Apr. 29, the Energy Information Administration said.

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