gasoline prices

California climate debate centers on gas prices

Los Angeles Times

Critics of California’s cap-and-trade policy, which is set to start charging refineries for greenhouse gas emissions on Jan. 1, claim that it will increase already high gasoline prices, while supporters say consumers are already benefitting from higher vehicle fuel efficiency the program has prompted, the Los Angeles Times reports.


Oil price steady on quiet day for energy

The price of oil held steady on Friday on a quiet day for energy markets.

Benchmark U.S. crude for August delivery edged 10 cents lower to close at $105.74 a barrel in New York. Brent crude, a benchmark used to price international oils used my many U.S. refineries, rose 9 cents to close at $113.30 a barrel in London.

The price of both U.S. and international oils have slipped somewhat in recent days since reaching 10-month highs late last week, a sign investors are starting to believe that the violence in Iraq won't spread to the oil-producing south.


Senate Democrats push bill to rein in oil speculation

The Hill

A measure sponsored by independent Sen. Bernie Sanders of Vermont and backed by 13 Democrats would order the Commodity Futures Trading Commission to act to eliminate excessive oil speculation, the intent being to prevent spikes in gasoline prices like the recent increases triggered by fighting in Iraq, The Hill reports.


US drivers could see 6-year high for gasoline prices over 4th of July


Gasoline prices over the 4th of July holiday could be the highest since 2008 as a result of the crisis in Iraq that has pushed up crude oil prices, Bloomberg reports.

Calif. Dems. seek changes to state’s carbon emissions plan

Los Angeles Times

Concerned about its effect on already high gasoline prices, Democratic lawmakers in California are urging changes to a carbon emissions plan set to take effect in 2015, the Los Angeles Times reports.


Gasoline price hikes could cool moves to lift crude export ban: Analysts


Increases in gasoline prices linked to unrest in Iraq could discourage moves to lift the decades-old U.S. ban on crude exports, analysts have told Platts.


US gasoline prices rise slightly to $3.71 a gallon

CAMARILLO, Calif. (AP) — A survey says the average price of a gallon of regular gasoline in the U.S. has risen by 2 cents over the last two weeks to $3.71.

Industry analyst Trilby Lundberg said Sunday that crude oil prices rose over jitters about Iraqi oil production as violence there grows.

Much of that increase hasn't been passed on to consumers yet, and prices could increase over the coming weeks.


Turmoil in Iraq is pushing up US gasoline prices

Violence in Iraq is pushing U.S. gasoline prices higher, depriving drivers of the usual price break between Memorial Day and July Fourth.

The national average price of $3.67 per gallon is the highest price for this time of year since 2008, the year gasoline hit its all-time high.


Oil jumps 2 percent as Iraq violence raises supply fears

The price of oil jumped Thursday as an insurgency in Iraq raised the risk of disruptions to supplies at a time when other major oil-producing countries are already pumping near capacity. The al-Qaida-inspired group that captured two key cities in Iraq earlier this week vowed Thursday to march on to Baghdad.

One of those two cities, Mosul, lies in an area that is a major gateway for Iraqi oil. While the loss of the city has no immediate effect on oil exports, now at over 3 million barrels a day, it adds to concerns over security and the country's plans to expand oil production.

West Texas Intermediate, the benchmark U.S. oil, rose $2.13, or 2 percent, to close at $106.53 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, rose more sharply, gaining $3.07, or 2.8 percent, to $113.02 a barrel on the ICE Futures exchange in London.


US gas prices holding steady at $3.69 a gallon

CAMARILLO, California (AP) — A survey says the average price of a gallon of regular gasoline in the U.S. is holding steady, rising 3½ cents over the last three weeks to $3.69.

Industry analyst Trilby Lundberg said Sunday that crude oil prices are little changed and strong refinery output has quenched higher demand. She anticipates minor price declines ahead.

The survey taken Friday shows the average price for a gallon of midgrade gas was $3.88 and the average price for a gallon of premium was $4.03. Diesel averaged $3.96 a gallon.


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