gasoline prices

Crude export ban repeal would boost production, lower pump prices: Analysis

Source: 
FuelFix

Even given the recent drop in oil prices, lifting the ban on U.S. crude exports would still give a boost to domestic producers trying to compete in other markets around the world, according to an analysis by Columbia’s Center on Global Energy Policy and The Rhodium Group, FuelFix reports.

Oil

US consumer prices drop 0.4 percent in December

WASHINGTON (AP) — U.S. consumer prices fell in December by the largest amount in six years, reflecting another big monthly decline in gasoline prices and providing further evidence of falling inflation pressures.

The Labor Department said Friday that its consumer price index dropped 0.4 percent last month, the biggest one-month drop since December 2008. It was also the second straight monthly decline in prices with both months reflecting big decreases in gas prices, which have been tumbling in recent months because of the global plunge in oil prices.

Despite low gas prices, gas tax hike appears unlikely

WASHINGTON (AP) — The new Republican-controlled Congress is facing an old problem: where to find the money for highway and transit programs.

With gasoline prices at their lowest in years when the new Congress convened, there had been talk that it might be time to raise federal gas and diesel taxes, which haven't budged in more than 20 years.

Tesla chief expects electric car company profit in 2020

DETROIT (AP) — The head of electric car maker Tesla Motors says the company should turn a profit in five years after it brings a lower-cost car to market.

CEO Elon Musk, speaking Tuesday at an automotive conference, said Tesla needs to show a profit, and will when it's selling 500,000 cars per year. He predicted that sales milestone will be reached in 2020, when its lower-cost car — the Model 3 — is in full production.

Gas price drop fuels auto industry push to roll back fuel economy standard

Source: 
The Wall Street Journal

The auto industry – seeing consumer interest in less efficient vehicles skyrocket as pump prices fall – will make a concerted effort to seek relief from fuel economy standards when regulators review them in 2017, executives told The Wall Street Journal at the Detroit auto show.

Oil

No letup in falling gasoline prices: AAA

Source: 
Time

Only one state, Hawaii, still has average gasoline prices over $3 a gallon, and in 19 states the average price has slipped under the $2 mark, according to statistics from the AAA, Time reports.

Oil

As cheap gasoline shifts car buyers' habits, automakers power on

DETROIT (AP) — Inside the auto show here, automakers are showing off electric and other vehicles designed to cut our dependence on fossil fuels. Outside, car buyers are paying the lowest prices in years for carbon-based fuels.

That dichotomy has the industry scrambling to sell alternative vehicles and buyers making choices that seemed impractical just a short time ago.

Oil

Survey: US gas prices fall 27 cents per gallon

CAMARILLO, Calif. (AP) — The average price of regular gasoline nationwide has dropped 27 cents a gallon in the past three weeks, to $2.20.

Industry analyst Trilby Lundberg says it's the lowest in more than five years and more drops are possible, although probably not as steep.

Oil

Is Keystone still necessary as oil, gasoline prices dip?

WASHINGTON (AP) — A 50-percent plunge in the price of crude oil, resulting from abundant global oil supplies and cheaper gasoline at the pump, raise critical questions about whether the Keystone XL oil pipeline is still needed or even makes financial sense.

Oil prices always have been volatile, and both the pipeline company and the oil refiners and producers that would use the pipeline expect prices to rise and plunge throughout the project's life.

California lawmakers ask for vigilance on gasoline prices

Source: 
Los Angeles Times

A majority of state Senators in California have signed a letter asking the attorney general’s office to guard against possible gasoline price manipulation by the oil industry in any attempt to undermine the cap-and-trade program, the Los Angeles Times reports.

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