gasoline prices

Oil

Oil markets, strong production lead US gasoline prices lower

CAMARILLO, Calif. (AP) — The average national price of a regular gallon of gasoline has dropped 4 cents in the last two weeks to $2.50.

Industry analyst Trilby Lundberg said Sunday that falling oil prices and strong production at U.S. refineries led to lower numbers at the pump. The drop during the two-week period ended Friday comes despite labor strikes at some refineries.

Oil

Gasoline prices resume falling, says AAA

Source: 
FuelFix

The renewed slide in crude oil prices has pushed gasoline prices lower again, with the national average for unleaded dropping to $2.42 a gallon Monday according to the AAA, FuelFix reports.

Oil

Factory output falls for third straight month in February

WASHINGTON (AP) — Output at U.S. factories fell for a third straight month in February, driven by a big drop in production at auto plants.

The Federal Reserve said Monday that manufacturing output fell 0.2 percent in February, following a decline of 0.3 percent in January. Overall industrial production edged up a slight 0.1 percent in February, as unusually cold weather in many parts of the country led to a surge at utilities.

Oil

Oil is on its way down again; will gasoline prices follow?

NEW YORK (AP) — The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers.

The price of oil fell 10 percent this week, approaching its lowest price in six years. Many expect it to fall further in the coming weeks because supplies are rising and the summer driving season is still months away.

New Oregon governor extends low-carbon fuels program

Source: 
The Oregonian

Gov. Kate Brown has signed into law a bill extending Oregon’s low-carbon fuels program over Republican objections that the measure would increase gasoline prices, The Oregonian reports.

Oil

Survey: US gasoiline prices jump 21 cents a gallon in 2 weeks

CAMARILLO, Calif. (AP) — The average price of a regular gallon of gas has jumped 21 cents in the past two weeks to $2.54.

Industry analyst Trilby Lundberg said Sunday that the price is still 97 cents per gallon less than a year ago.

Oil

AP survey: Why the outlook for global economy has brightened

WASHINGTON (AP) — From the United States to Asia to Europe, a global economy that many had feared was faltering appears poised for a resurgence on the strength of cheap oil and falling interest rates.

That's the strikingly upbeat view of economists surveyed by The Associated Press, who no longer see Europe's financial crisis, the U.S. housing market or congressional gridlock as the threats they appeared to be last year.

Oil

Auto industry slows for bad weather, but stays on course

DETROIT (AP) — February threw snowstorms and other roadblocks at the auto industry, but U.S. sales of new cars and trucks are still poised to hit their highest level in more than a decade this year.

Freezing temperatures, disruptions at West Coast ports and rising gas prices took a bite out of U.S. auto sales last month. Still, most automakers reported gains, and analysts say lost sales should be made up as the weather warms in March.

Oil

Americans appear to be setting aside their energy windfall

Source: 
The New York Times

The money Americans are saving on cheaper gasoline and heating oil appears to be going into the bank, rather than being spent on consumer goods, The New York Times reports.

Oil

US consumer spending, adjusted for inflation, rose in Jan.

WASHINGTON (AP) — U.S. consumers spent less for a second consecutive month in January, but the weakness came from a big decline in gasoline prices. Excluding price changes, consumer spending was up in January and analysts expect strong income gains will fuel further solid increases in spending in the months ahead.

Consumer spending declined 0.2 percent in January following a 0.3 percent drop in December, the Commerce Department reported Monday. But the weakness in both months was heavily influenced by big declines in gasoline prices. Excluding price changes, consumer spending rose 0.3 percent in January and would have been down a smaller 0.1 percent in December.

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