gasoline prices

Oil

US consumer prices fall 0.2 percent in August

WASHINGTON (AP) — U.S. consumer prices edged down in August, the first monthly drop since the spring of 2013, as gasoline, airline tickets and clothing prices all fell. It was the latest evidence that inflation remains under control.

Consumer prices edged down 0.2 percent last month following a tiny 0.1 percent gain in July, the Labor Department reported Wednesday. It was the first decline since a similar 0.2 percent drop in April 2013. Core prices, which exclude energy and food, were unchanged in August, the first time there hasn't been an increase since October 2010.

Public skeptical about claims crude exports could lower pump prices

Source: 
FuelFix

Some experts and analysts may conclude that lifting the ban on crude exports would end up lowering gasoline prices, but a University of New Hampshire poll found that 85 percent of those surveyed said the U.S. should keep a lid on crude exports if it prevents an increase in gasoline prices, FuelFix reports.

Oil

Pump prices to drop further on US shale boom: AAA

Source: 
Bloomberg

Averaging just over $3.42 a gallon, a drop of more than 6 percent since Memorial Day, gasoline prices will get even cheaper as a result of record domestic oil production, an AAA spokesman told Bloomberg.

Oil

Study: Want lower gasoline prices? Ship more oil abroad

NEW YORK (AP) — Exporting more U.S. crude around the world would lower the price of gasoline for U.S. drivers and benefit the U.S. economy, according to a new study released Tuesday.

While the conclusion may be counter-intuitive, the reasoning is straightforward: Exports would encourage more U.S. oil production and put that crude on the global market. That would lower the global price of oil, the price that is linked most closely to the price of gasoline in the U.S.

Exports of U.S. crude oil have been banned, with few exceptions, since soon after the 1973 Arab oil embargo.

Oil

US gasoline prices fall, extending summer decline

CAMARILLO, Calif. (AP) — A national survey says the average price of a gallon of regular gasoline has dropped 2 cents over the last two weeks, to $3.46, bringing the decline to 25 cents over the last 11 weeks.

Industry analyst Trilby Lundberg said Sunday that falling crude oil prices drove the declines, although the drop was more moderate than earlier this summer. If crude prices don't rise, Lundberg says prices at the pump may fall more as refiners shift to winter-grade gasoline, which costs less to produce.

Oil

Gasoline prices could drop below $3 a gallon: AAA

Source: 
The Hill

Barring unforeseen crises, reduced autumn driver demand and a switch by refiners to winter fuel blends should push gasoline prices lower in the coming weeks, possibly under $3 a gallon, the AAA said Thursday, The Hill reports.

Oil

Chicago spot gasoline prices jump after refinery fire

Source: 
Bloomberg

Spot gasoline prices in Chicago have been increasingly ahead of futures trading on the Nymex in the wake of last week’s fire at BP’s refinery in Whiting, Indiana, Bloomberg reports.

Oil

Survey: US gasoline prices down 4 cents per gallon

CAMARILLO, Calif. (AP) — The average U.S. price of gasoline has dipped 4 cents per gallon in the past two weeks, and prices in California have fallen 5 cents in the same time period.

According to the Lundberg Survey released Sunday, the average nationwide price for a gallon of regular is now $3.48 — 8 cents below what it was a year ago. The average price for midgrade gasoline is $3.69, and premium is $3.84.

Oil

July consumer prices up 0.1 percent, held back by gasoline

WASHINGTON (AP) — U.S. consumer prices rose in July at the slowest pace in five months, held back by a drop in gasoline prices.

Consumer prices edged up a seasonally adjusted 0.1 percent last month, after larger gains of 0.3 percent in June and 0.4 percent in May, the Labor Department reported Tuesday. It was the smallest increase since a similar 0.1 percent rise in February.

The July price restraint came from falling gasoline prices, which had surged in June. All energy prices were down 0.3 percent and this helped offset a 0.4 percent rise in food costs, which have been pushed up by adverse weather including a drought in California.

Oil

EIA to report on crude processing, crude production link with gasoline prices

Source: 
Platts

The Energy Information Administration will put out two major reports on crude oil next month, according to its chief Adam Sieminski: One on crude processing and one analyzing the relationship between crude production and gasoline prices, Platts reports.

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