gasoline prices

Oil

Loss for Hess in 4Q on lower oil, gasoline prices

Source: 
The Wall Street Journal

Stung by lower oil and gasoline prices and raking in less from asset sales, Hess Corp. lost $8 million in the fourth quarter, compared to a profit of more than $1.9 billion in the period a year earlier, The Wall Street Journal reports.

Oil

As the cost of gasoline shrinks, small businesses think big

NEW YORK (AP) — For small business owners who deliver goods and services via car, truck or SUV, lower gas prices have brought more customers within reach and put more money in their pockets.

As gas prices fell below $3 a gallon, Kristen Harris went back to delivering her desserts to Chicago-area neighborhoods she had abandoned. Harris was able to cut her delivery charge from 70 cents a mile to 60 cents, and win back customers who had balked at the higher fee.

Oil

Pump price decline halted

Source: 
The New York Times

Average gasoline prices across the country rose a fraction of a cent on Tuesday, the first time in more than four months that’s happened, according to the AAA, which added, however, that it doesn’t expect the development of any significant trend for higher costs at the pump, The New York Times reports.

Administration climate plans threatened by pump price drop

Source: 
National Journal

Increased fuel efficiency standards, a major component of President Obama’s plan to fight climate change that he touted in last week's State of the Union address, could be threatened by continued low gasoline prices that encourage consumers to return to buying gas guzzling vehicles, National Journal reports.

Oil

Gasoline prices drop again, but should rise going forward

CAMARILLO, Calif. (AP) — The average price of a regular gallon of gas dropped 13 cents in the past two weeks to $2.07, but it could soon rise.

Industry analyst Trilby Lundberg said Sunday that the lowest prices in more than five years are likely to increase because of rising wholesale prices.

Oil

$2 gasoline: Good times keep rolling at the pump

NEW YORK (AP) — At some point this will end, perhaps even soon. The price of gasoline will not fall to zero.

But for the first time since 2009, most Americans are paying less than $2 a gallon. Just three months ago experts were shocked when it fell under $3.

Low gas prices, incentives change math for electric cars

DETROIT (AP) — Drivers trying to calculate whether it's practical to own an electric car are facing a new math.

U.S. gas prices have fallen more than $1 per gallon over the last 12 months, to a national average of $2.06, according to AAA. That makes electric cars — with their higher prices tags — a tougher sell.

Oil

Rare caution from lawmakers, officials about low pump prices

Source: 
National Journal

Wary of the volatility of oil and gasoline, politicians on both sides of the party divide as well as Obama administration officials like Energy Secretary Ernest Moniz – who warned against considering the present situation “the new normal” -- are avoiding claiming credit for the recent fall of prices at the pump, National Journal reports.

Oil

Lower income Americans gain most from drop in energy prices

Source: 
The New York Times

Other attributes of the U.S. economic recovery – including stock market gains, rising home prices, lower borrowing rates and increasing corporate profits – have benefited those who are wealthier, but lower energy prices – for gasoline and home heating oil, in particular – give a big boost to lower income and working class people, The New York Times reports.

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.

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