gasoline prices

Oil

Survey: US gasoline price holds steady over past 2 weeks

CAMARILLO, Calif. (AP) — The average price of gasoline has remained steady over the past two weeks, holding at $2.71 a gallon.

Industry analyst Trilby Lundberg said Sunday that while the average remains unchanged, many Midwest cities saw prices jump due to a partial shutdown of an Indiana refinery. Many West Coast cities experienced price drops.

Oil

Gasoline prices spike in Chicago, California on refinery problems

Source: 
The Wall Street Journal

Refinery problems—in particular the outage at BP’s Whiting facility in Indiana—have combined with pipeline leaks to send gasoline prices soaring in some spots at the height of the summer driving season, The Wall Street Journal reports.

Oil

Great Lakes gasoline prices jump after partial refinery shutdown

DETROIT (AP) — Oil and gas industry watchers said Wednesday prices at the pump have jumped across the Great Lakes region because of the unexpected, partial shutdown of a large Indiana oil refinery, and those increases could continue.

According to GasBuddy.com, the most affected states are Michigan, Indiana, Ohio and Illinois, but others, including Minnesota and Wisconsin, are also seeing increases.

Oil

Chicago-area refinery outage scrambles prices

Source: 
Bloomberg

Crude prices have been slumping and gasoline prices in the Midwest soaring as a result of a shutdown at the BP refinery in Whiting, Indiana, Bloomberg reports, noting that the outage could continue for a month.

Oil

Oil soars on higher gasoline, lower dollar; Brent back over $50

Source: 
Reuters

A problem at the BP refinery in Whiting, Indiana that pushed up gasoline prices had a knock-on effect on crude Monday, along with a drop in the dollar. U.S. benchmark crude gained $1.09 to settle at $44.96 a barrel on the Nymex, while in London Brent jumped 3.7 percent, or $1.80, to $50.41, Reuters reports.

Oil

Survey: US gasoline prices down 11 cents in the past 2 weeks

CAMARILLO, Calif. (AP) — The average price of gasoline has dropped 11 cents over the past two weeks to $2.71 a gallon.

Industry analyst Trilby Lundberg said Sunday that the current average sits 81 cents below the year-ago price.

Oil

Steyer seeks action on California gasoline prices

Source: 
Los Angeles Times

Activist Tom Steyer and Consumer Watchdog have called on the California legislature to require more refinery disclosure, tougher penalties for price fixing, and gasoline reserves that would act to prevent price spikes in the state, the Los Angeles Times reports.

Oil

Fire sale on stuff that burns: Oil, natural gas, coal down

NEW YORK (AP) — These days it seems whatever can be burned to power a car, heat a home, make electricity or ship people and goods around the globe is being sold at bargain basement prices.

Prices for coal, natural gas, oil and the fuels made from crude such as gasoline and diesel are all far less expensive than they have been in recent years.

Oil

Extended slump in oil taking toll on industry, economy

NEW YORK (AP) — As drivers, shippers and airlines continue to enjoy lower fuel prices, the oil industry is responding to much lower profits with sharp cuts in spending and employment that are hurting economic growth.

Low oil and gas prices are good for the overall economy because they reduce costs for consumers and business. U.S. economic growth was higher in the second quarter, and economists say that was partly fueled by consumers spending some of their savings on gasoline at stores and restaurants.

Oil

UAE slashes fuel subsidies, announces 24 percent price hike

DUBAI, United Arab Emirates (AP) — The United Arab Emirates has slashed gasoline subsidies, announcing Tuesday that it will raise the cost of a liter of regular gasoline by 24 percent amid globally low oil prices that have cut into the country's revenues.

Starting Aug. 1, drivers will pay 2.14 dirhams (58 cents) per liter of gasoline at the pump instead of 1.72 dirhams (47 cents), or about $2.21 a gallon instead of $1.78, the government's new fuel price committee said.

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