Energy News  
OIL AND GAS
Retail gas prices moving sharply higher
by Daniel J. Graeber
Washington (UPI) Mar 15, 2016


disclaimer: image is for illustration purposes only

A spike in oil prices, coupled with seasonal events at U.S. refineries, means gas prices should increase for consumers, but savings remain, analysis finds.

Motor club AAA reports a national average retail price for regular unleaded gasoline at $1.95 per gallon, a slight increase from Monday and 13 cents, or 7.4 percent, higher than last week.

Retail gasoline prices tend to follow trends in crude oil prices, which last week rallied back above the $40 per barrel mark on word U.S. output was on the decline. Refineries, meanwhile, are preparing to shift to a summer blend of gasoline, which is more expensive to produce because of the additional environmental safeguards necessary during summer driving months.

"Prices in some regions may move significantly higher in the near term due to fluctuations in local supply and demand associated with continued maintenance and preparations for summer-blend gasoline in advance of the June 1 deadline for retail facilities to sell the cleaner blend," the motor club explained in a weekly retail market report.

Negative pressure on crude oil prices, down more than 5 percent from last week's highs, could keep gasoline prices lower in the mid-term, however. Exploration and production trends continue to show weakness and last week, the U.S. Energy Information Administration lowered its long-term forecast for crude oil prices.

Patrick DeHaan, an analyst with consumer price watchdog GasBuddy, said seasonal pressures on retail gas prices should last at least another month.

"Perhaps the best news? Motorists still could see the cheapest average summer gasoline prices in over a decade," he said in an emailed statement.

The national average price for gasoline is 20 percent less than this date in 2015. New Jersey has the lowest state average price in the nation at $1.70 per gallon.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Four tremors recorded in Oklahoma since Sunday
Oklahoma City (UPI) Mar 14, 2016
Five seismic events were reported by the U.S. Geological Survey in Oklahoma in the last 24 hours as the state works to stem incidents tied to oil and gas work. Thee minor tremors were reported early Monday morning%2C%22viewModes%22%3A{%22list%22%3Atrue%2C%22map%22%3Atrue%2C%22settings%22%3Afalse%2C%22help%22%3Afalse}}",nw} local time by the USGS, including a magnitude-3.4 quake near Fai ... read more


OIL AND GAS
Virtual time machine of Earth's geology now in the cloud

First views of Earth from Sentinel-3A

Sentinel-3A rides the waves

The ancient rotation of the Iberian Peninsula left a magnetic trace

OIL AND GAS
India to Launch Sixth Navigational Satellite on Thursday

Lockheed Martin building next generation of military GPS satellites

Traffic app says not at fault for Israel troops losing way

ESA helping to keep transport systems on track

OIL AND GAS
Eastern US forests more vulnerable to drought than before 1800s

Austin's urban forest

US joins Honduran probe of environmentalist's murder

Thousands attend funeral of slain Honduran environmentalist

OIL AND GAS
Stanford scientists make renewable plastic from carbon dioxide and plants

Sugar-power - scientists harness the reducing potential of renewable sugars

Chemical snapshot unveils path to greener biofuel

Fuel or food? Study sees increasing competition for land, water resources

OIL AND GAS
Whole Foods Market announce large scale commercial solar project

Brazil uses dammed lake surface for floating solar panels

Skypower partners with Sachigo Lake First Nation to build solar parks

Spain's Abengoa reaches preliminary deal with creditors to avoid bankruptcy

OIL AND GAS
Re-thinking renewable energy predictions

Xinjiang Goldwind now world's top wind turbine producer

Norway's Statoil makes U.S. wind energy bet

Adwen Chooses Sentient Science For Computational Gearbox Testing

OIL AND GAS
Chinese coal miners strike over wages, layoffs

U.S. coal exports on the decline; As JPMorgan sounds warning

High-carbon coal products could derail China's clean energy efforts

China coal consumption drops again: govt

OIL AND GAS
China slammed at UN over crackdown on activists, lawyers

Equal rites: Tibetan nuns seek matching status

Rights groups warn KFC over Tibet opening

China aims to increase giving with first charity law









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.