gasoline prices

Oil

Lower gasoline prices prompt drivers to abandon hybrids, electrics

Source: 
The New York Times

As gasoline prices have dropped, owners of hybrids and electric vehicles are abandoning them in favor of conventional gas-powered cars including SUVs, The New York Times reports.

Oil

Gas prices still look low for summer even after spring surge

NEW YORK (AP) — Drivers who have seen a steady rise in the price of gasoline can relax: They will almost certainly be paying far less for gas this summer than they have in at least six years.

"It's a cheap, cheap, cheap year," says Tom Kloza, chief oil analyst at the Oil Price Information Service.

Oil

Small, midsize SUVs drive April US auto sales gains

DETROIT (AP) — Hot sales of small and midsize SUVs drove auto sales higher last month as General Motors, Ford, Toyota, Fiat Chrysler and Nissan all reported U.S. sales gains.

Several of the companies reported their best April totals in years. Overall, sales were mostly in line with analysts' predictions of a 6 percent increase compared with a year ago. All automakers were scheduled to report sales on Friday.

Oil

On the road again: Americans say lower gas prices means more road trips

Source: 
The Hill

The Hill reports on an AAA survey that concludes that Americans are more likely to take long road trips this year, assuming gasoline prices don't go back up.

With economy uncertain, no Fed rate hike is seen before fall

WASHINGTON (AP) — For 6½ years, the Federal Reserve has held its key interest rate near zero, and for nearly that long the financial world has speculated about when the Fed will start raising it.

Don't look for it soon.

Oil

US gasoline prices jump, could go slightly higher

CAMARILLO, Calif. (AP) — The average national price of a regular gallon of gasoline has jumped 13 cents in the past two weeks to $2.58.

Industry analyst Trilby Lundberg said Sunday that higher crude oil prices caused the run-up at the pump. However, the price is $1.11 below the mark a year ago.

Car buyers think big in 1Q, boosting profit at GM

DETROIT (AP) — Encouraged by lower gasoline prices, consumers in the U.S. spent big in the first quarter on vehicles that carry lots of passengers and cargo — and deliver hefty profit margins for General Motors.

Senate Energy and Natural Resources Committee

At CERAWeek, Murkowski sets sights on crude export ban

The chair of the Senate Energy and Natural Resources Committee will introduce legislation to lift the 40-year-old ban on crude oil exports this year, she told industry leaders Monday.

"I plan to introduce a bill that fully repeals our nation’s outdated export ban, while still preserving the emergency authority of the President,” Sen. Lisa Murkowski, R-Alaska, said at the IHS CERAWeek conference in Houston. 

Oil

Refiners, retailers drop prices, chase US drivers' demand

CAMARILLO, Calif. (AP) — The average national price of a regular gallon of gasoline continues to drop.

Industry analyst Trilby Lundberg said Sunday that the price of a regular gallon of gas dropped 5 cents in the past three weeks to $2.45 a gallon.

GM to suspend Volt production for 4 weeks this summer

DETROIT (AP) — General Motors will stop making the Chevrolet Volt for four weeks in June and July due to slow sales and to deal with the change to an all-new version of the gas-electric hybrid car.

The company says the Detroit-Hamtramck plant that makes the Volt and four other cars will probably stay open through the summer despite plans for the Volt. The factory also is undergoing construction so it can build a new full-size Cadillac CT6 and the 2016 Volt starting late in the summer.

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