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Keyword: gasoline

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  • Pipeline Outage Could Lead To Another Gasoline Price Spike

    10/05/2016 4:10:33 PM PDT · by bananaman22 · 6 replies ^ | 10-05-2016 | Southeast seasoning
    Gasoline prices in the U.S. Southeast spiked in September after a major gasoline pipeline suffered a leak and was forced to temporarily shut down. The Southeast may see gasoline prices rise again because the problems with the pipeline are not over. The Colonial Pipeline is a 2.5 million barrel per day system that carries refined products such as gasoline, diesel, jet fuel and heating oil. It consists of a massive 5,500 miles of pipeline, traveling from the Gulf Coast up to the mid-Atlantic. Fuels refined along the Gulf Coast can reach as far as New York Harbor.
  • Company Restarts Gasoline Pipeline After Leak in Alabama

    09/23/2016 9:11:38 AM PDT · by Alas Babylon! · 25 replies
    Kiii TV ^ | September 23, 2016 | Video report
    Colonial pipeline is investigating what caused a pipeline to leak nearly 336,000 gallons of gasoline into a man-made retention pond. That leak was discovered back on September 9th near Helena, Alabama after state workers noticed a strong smell of gas. The shutdown pipeline caused rising fuel prices amid gas shortages across the South. Investigators say the broke portion, built in 1963, has since been repaired. A preliminary report does not identify the cause of the break as the federal investigation continues.
  • Alabama pipeline leak: What we know so far about the spill, gas shortages and more

    09/18/2016 5:43:49 PM PDT · by servo1969 · 55 replies ^ | 9-18-2016 | Dennis Pillion
    On the morning of Sept. 9, an inspector with the Alabama Surface Mining Commission was performing a routine monthly check of an old coal mine in Shelby County when he noticed "a strong odor of gasoline" as well as a sheen on the surface of one of the retention ponds. The gasoline he was smelling came from Colonial Pipeline's Line 1, an underground pipeline three feet in diameter that normally pushes 1.3 million barrels of gasoline per day from refineries in Houston to distribution centers across the Southeast and along the eastern seaboard. That 36-inch line, built in 1963, has...
  • Alabama, Tennessee, & Georgia Declare States Of Emergency As Gas Shortages Loom - Leak

    09/17/2016 4:17:14 PM PDT · by blam · 64 replies
    Zero Hedge ^ | Tyler Durden
    Tyler Durden September 17, 2016 As Native Americans protesters face arrest in North Dakota for blocking the construction of the Dakota Access Pipeline, TheAntiMedia's Carey Wedler reports a gasoline pipeline spill is currently unfolding in the South. The leak has prompted Alabama Gov. Robert Bentley, Tennessee Gov. Bill Haslam, and Georgia Gov. Nathan Deal to declare states of emergency. The Colonial Pipeline, which runs from Houston to New York, began leaking on September 9, spilling 250,000 gallons of gasoline, or 6,000 barrels. The pipeline was built in 1962, and the current leak in Helena, Alabama, is the largest one Colonial...
  • East Coast faces gas shortages, price hikes after pipeline leak

    09/16/2016 2:43:44 PM PDT · by dynachrome · 28 replies
    CNN ^ | 9-16-16 | Charles Riley
    A leak has caused the closure of a crucial pipeline that carries gasoline to the eastern United States, a disruption that threatens to drive up prices and leave service stations without fuel to sell. A section of the Colonial Pipeline, which runs from Houston to New York, has been closed since Sept. 9 after a spill of roughly 250,000 gallons was discovered in rural Shelby County, Ala. The major pipeline, one pipe of which has been severed, provides gasoline for an estimated 50 million people on the East Coast each day, according to company estimates. The cause of the leak...
  • Exclusive: Venezuela's oil imports slump on payment woes, economic meltdown

    08/28/2016 9:18:41 PM PDT · by 2ndDivisionVet · 37 replies
    Reuters ^ | August 25, 2016 | Marianna Parraga
    Venezuela has not been able to import all the crude and fuel it needs this year to cover shortfalls at oilfields and refineries as state-run PDVSA struggles to pay suppliers on time, according to trade sources and internal company data seen exclusively by Reuters. The decline is the largest in five years as the worst economic crisis in decades undermines PDVSA's ability to buy oil imports, which fell 21 percent in the first seven months of this year to 154,465 barrels per day (bpd), the data showed. Venezuela is also on track to suffer its steepest annual oil output drop...
  • Boom, Balance Or Bust: What's Next For Oil?

    08/23/2016 9:27:28 AM PDT · by bananaman22 · 4 replies ^ | 23-08-2016 | Nick
    Oil prices have surged more than 20 percent in the last two weeks but there is quite a bit of disagreement over whether or not the rally can continue. The spark that created the bull market was the decision from OPEC to hold an unscheduled meeting in Algiers in September to discuss a production freeze. On the one hand, it would seem odd that OPEC members would once again go through all the motions and trouble of holding another meeting without a high degree of confidence that this time will be different. On the other hand, it has been years...
  • U.S. Gasoline Consumption On Target For A Record Year

    08/22/2016 2:33:38 PM PDT · by bananaman22 · 18 replies ^ | 22-08-2016 | Rob
    In last month’s Short Term Energy Outlook (STEO), the Energy Information Administration (EIA) projected that it now expects record U.S. gasoline consumption this year This projected increase follows several years of lower gasoline demand that resulted from persistently rising gasoline prices over the past decade. From 2002 to 2012 the average retail price of gasoline rose nearly every year, from an annual average of $1.39/gal in 2002 to $3.68/gal in 2012. Consumers responded to these higher prices in multiple ways, which cumulatively led to falling gasoline demand. Some even suggested that U.S. gasoline demand had permanently peaked, as a result...
  • Researchers identify possible catalyst for converting methane to methanol at room temperature

    08/18/2016 10:55:22 AM PDT · by Red Badger · 20 replies ^ | August 18, 2016 | by Bob Yirka
    (—A team of researchers from Belgium and the U.S. has identified the active site of an iron-containing catalyst that has raised hopes for designing a practically useful catalyst that might make converting methane to methanol a possibility. In their paper published in the journal Nature, the researchers describe their efforts, what they discovered and why they believe their findings may lead to a practical way to convert methane to a more efficient energy resource. Jay Labinger, with the California Institute of Technology offers a News & Views piece outlining the work done by the team in the same journal issue....
  • Nissan revolution: could new petrol engine make diesel obsolete?

    08/14/2016 9:50:59 PM PDT · by 2ndDivisionVet · 19 replies
    Reuters ^ | August 14, 2016 | Norihiko Shirouzu
    ATSUGI, JAPAN -- Japanese automaker Nissan Motor Co has come up with a new type of gasoline engine it says may make some of today's advanced diesel engines obsolete. The new engine uses variable compression technology, which Nissan engineers say allows it at any given moment to choose an optimal compression ratio for combustion - a key factor in the trade-off between power and efficiency in all gasoline-fuelled engines. The technology gives the new engine the performance of turbo-charged gasoline engines while matching the power and fuel economy of today's diesel and hybrid powertrains - a level of performance and...
  • End of Driving Season Could Send Oil Back to February Lows

    08/03/2016 9:58:37 AM PDT · by bananaman22 · 5 replies ^ | 03-08-2016 | Driver
    Summer driving season: it’s the season to be traveling, what with long weekends, annual leaves and short getaways from the banalities of everyday life at the office. The summer season in the Northern Hemisphere is when demand for crude oil invariably picks up, because fuel consumption increases. In Europe, there’s greater hunger for diesel and in the U.S. there’s a pickup in gasoline demand. Usually. This year’s driving season, however, is shaping up to be a very disappointing exception to the usual seasonal patterns in fuel demand. People are not traveling now as much as analysts expected back in May....
  • Wholesale California gasoline prices plunge, consumers still pay up

    07/29/2016 8:52:37 AM PDT · by Lorianne · 74 replies
    Reuters ^ | 29 July 2016 | Liz Hampton, Jessica Resnick-Ault
    Wholesale gasoline in California became the cheapest in the country this week, but that change has largely gone unseen at the pump, where consumers are still paying the highest prices in the continental United States to fill up their cars. Ample inventories along with relatively stable refinery operations and imports has driven down the spot value of gasoline in Los Angeles at the wholesale level by more than 60 cents since mid-June. However, that has not translated to similarly lower retail fuel prices for consumers because of peculiarities in California's market. The declines in the state's retail gasoline market over...
  • Breakthrough solar cell captures carbon dioxide and sunlight, produces burnable fuel

    07/29/2016 8:50:46 AM PDT · by Red Badger · 84 replies ^ | July 28, 2016 | Provided by: University of Illinois at Chicago
    Simulated sunlight powers a solar cell that converts atmospheric carbon dioxide directly into syngas. Credit: University of Illinois at Chicago/Jenny Fontaine ********************************************************************************************************************** Researchers at the University of Illinois at Chicago have engineered a potentially game-changing solar cell that cheaply and efficiently converts atmospheric carbon dioxide directly into usable hydrocarbon fuel, using only sunlight for energy. The finding is reported in the July 29 issue of Science and was funded by the National Science Foundation and the U.S. Department of Energy. A provisional patent application has been filed. Unlike conventional solar cells, which convert sunlight into electricity that must be stored...
  • The Biggest Threat To Oil Prices Is The Dollar, Not A Supply Glut

    07/28/2016 9:14:52 AM PDT · by bananaman22 · 5 replies
    The glut of gasoline and other refined products has taken center stage for the oil markets, threatening to initiate a new bear market and push oil prices down below $40 per barrel for the first time in months. But while a surplus of refined products is weighing on crude prices, there could be another culprit that does not get as much publicity. Goldman Sachs says that a strong dollar deserves more blame for an oil price downturn, and further strengthening of the greenback looms as a much larger threat to prices than the gasoline glut. The U.S. Federal Reserve could...
  • Has anyone heard of Mukti Petroleum Inc.? Who owns it?

    07/17/2016 10:40:09 AM PDT · by EinNYC · 45 replies
    Local gas station sign | July 17, 2016 | Me, Myself, & I
    A local Citgo gas station recently changed into a "Mukti" gas station. I tried to do some research on Google to find out who Mukti is, but could not find out who really is behind that company. I suspect it is some Muzzie enterprise, and therefore I wouldn't touch it with a 10 ft. pole. Does any FReeper know anything about this company? Apparently it's quite local for the time being, hasn't gone national or even regional.
  • IEA: Gasoline Glut Could Cause Oil Price Rout

    07/13/2016 9:39:07 AM PDT · by bananaman22 · 7 replies ^ | 13-07-2016 | IEA
    Oil prices have been crushed over the past two years because of a glut of production. With supplies falling off, particularly in the U.S. shale patch, prices have begun to firm up. But another glut that has built up and has stubbornly refused to fall threatens another oil price downturn. In its July Oil Market Report, the International Energy Agency warned about shockingly high levels of refined products sitting in storage. Gasoline, diesel and heating oil are built up to such high levels in so many parts of the world, that a sharp rise in crude oil prices is unlikely...
  • Cheap Gas’ Latest Victim is Fuel Economy

    07/08/2016 9:42:09 AM PDT · by bananaman22 · 9 replies ^ | 08-07-2016 | Irina
    Falling prices at the pump have given motorists reason to rejoice continuously over the last year and a half, but they’re not good news for everyone. At least, not for the people who are about fuel economy. The latest sales-weighted fuel economy ratings report by the University of Michigan Transportation Research Institute revealed that in June, the value of the indicator was 25.3 miles per gallon, down from 25.4 mpg in May. Now, that’s not a huge dip, as Road Show author Andrew Krok notes, but it follows a pattern of declining fuel economy that parallels the decline in gas...
  • Report: Obama's oil tax would mean huge tax hike for gasoline

    06/10/2016 8:37:23 AM PDT · by PROCON · 17 replies
    washingtonexaminer ^ | June 9, 2016 | KYLE FELDSCHER
    The Obama administration's proposed $10.25 tax on each barrel of crude oil produced in the United States would be one of the biggest tax increases on gasoline in history, a report released Thursday showed. Alaska Republican Sen. Lisa Murkowski, chairwoman of the Senate Energy and Natural Resources Committee, released a Congressional Research Service report showing historical increases in the federal gasoline tax in an attempt to put the oil tax in perspective. While the tax would be levied on oil companies, economists assume that oil companies would pass on the tax to consumers. The tax could add between 20-25 cents...
  • Norway Aims To Ban Sales Of Gas-Powered Vehicles By 2025

    06/06/2016 6:03:44 AM PDT · by rktman · 54 replies ^ | 6/4/2016 | Chris White
    Norway has decided to prohibit the selling of all gasoline-powered cars by 2025, according to Norwegian newspaper Dagens Nćringsliv. The ban, which has received support from political parties on the left and the right, is pegged to be the most aggressive anti-gasoline energy policies of its kind in the world – the irony, of course, is that Norway is one of the largest producers of fossil fuels in the entire world. Norwegians produced and exported in 2013 more than 1.2 million barrels of oil, placing it 14th overall on a list of exporting countries, just below Qatar and Mexico. India...
  • Gas Prices To Remain Low This Summer

    05/31/2016 3:47:11 PM PDT · by bananaman22 · 18 replies ^ | 31-05-2016 | Geiger
    It’s easy for U.S. drivers to forget the high gas prices in recent years after the ultra-lows seen only months ago, but prices going into the summer months of 2016 are still well below what they were this time last year, and the lowest price heading into the summer months since 2009. Despite a recent uptick in the price per barrel of oil—up $20 since the last week of January 2016—U.S. drivers will still enjoy the low gas prices this summer. The spot price for WTI crude oil is still significantly lower than this time last year, trading today at...
  • 3,000 French Gas Stations Out of Fuel

    05/27/2016 8:44:54 AM PDT · by Lorianne · 25 replies
    NACS ^ | 26 May 2016
    An oil strike has forced around a fourth of the country’s stations to close because of lack of gasoline. ___ Some 3,000 gasoline stations in France—around a fourth of the country’s stations—have had to close because an oil strike has shut off their fuel supply, Telesur reports. For the first time in more than five years, France is dipping into its strategic oil reserves, while unions block refineries. Those stations lucky enough to have fuel are under government orders to restrict the sale of diesel or gasoline to around $30 per customer. Unions are picketing French refineries in protest against...
  • EPA Just Declared War On Millions of Car Owners

    05/25/2016 3:54:04 AM PDT · by IBD editorial writer · 147 replies
    Investor's Business Daily ^ | 5/25/2016 | Staff
    Energy: The EPA’s proposal to increase the amount of ethanol that must be blended into gasoline is a trifecta of regulatory abuse. It will do nothing for the environment, it will do nothing for energy security, and it could wreck millions of car engines
  • gasoline - ingenious marketing

    05/19/2016 3:30:52 PM PDT · by littlebird · 83 replies
    May 18, 2016 | littlebird
    every time I fill up my car, I suspect all the different octane gasoline are exactly the same, 91 octane. The only difference is what it is called (eg. gold) and the price. Gas company puts in the same octane gas, with a little advertising, gets more money by calling it gold or premium plus. It is all marketing. Unsuspecting driver feels better buying higher price gas for their beloved car. Any one likes to comment.
  • Which US States Have The Highest And Lowest Gasoline Taxes

    05/19/2016 6:04:30 PM PDT · by Nachum · 49 replies
    zero hedge ^ | 5/19/16 | tyler durden
    Yesterday we showed something strange: while oil prices have rebounded from multi-year recent lows, gasoline prices have not only rebounded but have done so with a vengeance, sending retail gasoline at the pump is now back to levels last seen just over a year ago, even as WTI (and Brent) is materially lower. As we concluded, "gas prices are unchanged while oil prices are 25% lower." Something did not add up, which prompted some readers to inquire if this was purely a function of higher gasoline taxes.  We don't know the answer, and assume it is a deep secret of America's...
  • EPA seeks to boost ethanol in fuel supply

    05/18/2016 2:26:28 PM PDT · by jazusamo · 43 replies
    The Hill ^ | May 18, 2018 | Timothy Cama
    The Environmental Protection Agency (EPA) wants to increase the amount of ethanol and other biofuels in the nation’s fuel supply. But the volumes proposed Wednesday under the renewable fuel standard (RFS) still fall under targets written into the 2007 law that created the program. That ended up angering both the ethanol industry, which wants more of its product to be mandated, and the oil industry, which wants the program rolled back. The agency plans to mandate that 18.8 billion gallons of biofuels be blended into the country’s gasoline and diesel supply next year. Of that amount, 14.8 billion gallons can...
  • Oil Prices Jump To Six-Month High

    04/28/2016 11:55:35 AM PDT · by bananaman22 · 10 replies ^ | 28-04-2016 | Chemokuurtje
    Oil prices surged to their highest levels in six months on Wednesday as the Fed left interest rates unchanged. WTI jumped by 2.8 percent to $45.29 per barrel and Brent climbed by 3.17 percent to $47.19 per barrel. Those are the highest prices so far in 2016 and the oil markets continue to bet on rising momentum for crude. The Federal Reserve added strength to oil when it announced its decision to leave interest rates unchanged, a move that caused the dollar to weaken and oil prices to rise. The Fed also softened its language regarding its concerns over the...
  • Huge Fire Erupts at ExxonMobil Refinery Near Houston

    04/08/2016 3:42:52 PM PDT · by bananaman22 · 58 replies ^ | Oh Lord It's A Fire
    An enormous fire erupted an ExxonMobil refinery in Texas on Thursday. The Baytown refinery caught fire, leading to huge black plumes of smoke into the air, visible from downtown Houston. Almost as soon as the fire in the ExxonMobil refinery was extinguished, we got reports of a fire in a refinery belonging to LyondellBasell Industries. CNBC reported that the fire occured in the coker unit of the refinery that can process over 263.000 barrels per day.
  • Why fuel prices will stay low for the next decade

    02/08/2016 12:22:58 PM PST · by nascarnation · 29 replies
    Autoblog ^ | 2/8/16 | Chris Bruce
    The top exec at an oil trading company thinks the era of crude trading at over $100 a barrel might never return, and the stuff could remain between $40 and $60 for as long as the next 10 years. "You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," Ian Taylor, Chief Executive Officer of Vitol Group BV, told Bloomberg. His company is the world's largest independent oil trader. Instead of any significant increase or decrease, the exec believes crude could hit $45 to $50 a barrel in the...
  • Obama Proposes $10 Tax On Each Barrel Of Oil

    02/05/2016 9:54:42 AM PST · by bananaman22 · 48 replies ^ | 05-02-2016 | Barnie
    The Obama administration will reportedly unveil a proposal next week that would place a $10 tax on each barrel of oil produced in the United States. The proposal is part of the President’s budget for fiscal year 2017. The $10 oil tax would raise an estimated $32 billion, and the money would be used to fund an ambitious program of investments in clean energy, mass transit, high-speed rail, self-driving cars, light rail, subways, buses, and much more. The investments could total $300 billion in new spending. The proposal would help bring America’s infrastructure into the 21st century, and provide “a...
  • Tesla's worst nightmare ... cheap gas

    02/03/2016 9:33:06 AM PST · by Signalman · 40 replies
    Tesla (TSLA) stock is down more than 25% so far this year. It hit its lowest level since February 2014 on Wednesday. Wall Street has grown increasingly skeptical about the company in recent weeks. Adam Hull, an analyst with European investment bank Berenberg, initiated coverage on Tesla Wednesday with a sell rating. Pacific Crest analyst Brad Erickson said in a report Tuesday that investors should "avoid" Tesla stock. He cited concerns about sluggish demand for the company's new Model X crossover. And even longtime Tesla bull Adam Jonas of Morgan Stanley, is suddenly feeling a little less optimistic about the...
  • Gas Drops Below $1.50 in Some Areas, and We Haven't Hit Bottom Yet

    02/02/2016 7:28:32 AM PST · by thackney · 49 replies
    NBC News ^ | FEB 2 2016 | MARTHA C. WHITE
    American drivers are now enjoying gasoline prices that haven't been this low since January 2009. Data from the AAA shows that the average annual price for a gallon of gas has been below $2 a gallon for about a month now. Just within the past week, the national average gas price ticked below $1.80 for a gallon of regular gas, a drop of 20 cents just since the beginning of 2016. "I think you have probably another three to four weeks of prices in this area - I think we could drop another nickel or so," said Denton Cinquegrana, chief...
  • Gas Price Hits 47 Cents a Gallon in Michigan After Price War

    01/18/2016 11:00:03 AM PST · by Citizen Zed · 24 replies
    abc news ^ | 1-18-2016 | EMILY SHAPIRO
    The price of gas hit a stunning low -- just 47 cents per gallon -- in Michigan on Sunday. Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at, told ABC News today. A gas station in Houghton Lake, Michigan, hit the 47 cents mark after a price war between three stations in the town, DeHaan said.
  • U.S. retail sales dipped in December; low gasoline prices a key factor

    01/15/2016 8:50:51 AM PST · by thackney · 19 replies
    Fuel Fix ^ | January 15, 2016 | Associated Press
    Americans tapered off from shopping toward the end of the holiday season, while lower gasoline prices cut into overall retail sales in December. The Commerce Department said Friday that retail sales dipped a seasonally adjusted 0.1 percent last month to $448.1 billion after having climbed a solid 0.4 percent in November. The report shows consumer tastes shifting toward restaurants and online shopping. The extra savings from falling gas costs have yet to boost spending much in other retail categories. Sales fell in December at clothing, electronics outlets and general merchandise stores. But those declines were largely offset by spending at...
  • U.S. average gasoline price falls below $2.00 per gallon for first time since 2009

    01/14/2016 5:40:48 AM PST · by thackney · 22 replies
    Energy Information Administration ^ | JANUARY 14, 2016 | Energy Information Administration
    Based on EIA's weekly survey of gasoline prices, the U.S. average retail price for regular gasoline fell to $1.996 per gallon (gal) on January 11, falling below $2.00/gal for the first time since March 23, 2009. The U.S. average retail regular gasoline price had last approached, but not gone below, the $2.00 mark in early 2015. Falling gasoline prices are a result of falling crude oil prices and the seasonal slowdown in gasoline demand. Four of the five regions in the United States currently have averages below $2.00/gal, with the exception of the West Coast, where the retail regular gasoline...
  • Saudi Arabia, UAE lead GCC subsidy reform

    01/14/2016 5:19:14 AM PST · by thackney · 2 replies
    Oil & Gas Journal ^ | 01/11/2016 | OGJ editors
    Saudi Arabia and the United Arab Emirates lead the Gulf Cooperation Council in raising energy prices and cutting subsidies in response to fiscal pressures created by the slump in crude oil prices, according to Arab Petroleum Investments Corp. (APICORP), Dammam, Saudi Arabia. While welcoming the trend as "a step in the right direction, APICORP warns, in a review of reforms introduced so far, that "the path for energy-pricing reform will be long and fraught with risks." Increases in energy prices traditionally kept low by governments reduce household welfare and increase input costs of industries, the group notes. It urged governments...
  • Saudi Arabia To Increase Fuel Prices By 50 Percent

    01/05/2016 4:48:55 AM PST · by thackney · 16 replies
    South Texas News ^ | 1/3/2016 | South Texas News
    Domestic fuels have been heavily subsidized, but Riyadh has been under pressure to bring its spending under control as its budget deficit in 2015 ballooned to Riyal 367 billion due to lower revenue from crude exports. Jadwa estimated the cost of energy subsidies at USD 61 billion this year, of which diesel accounted for USD 23 billion and gasoline for USD 9.5 billion. The deficits represent a sharp turnaround from just a few years ago, before oil prices tumbled in mid-2014. Riyadh maintained high spending this year, and launched a military intervention against Iran-backed rebels in Yemen, by tapping into...
  • Thanks to technology, we’re not going to run out of oil

    01/02/2016 12:41:40 PM PST · by 2ndDivisionVet · 17 replies
    Hot Air ^ | January 2, 2016 | Matt Vespa
    If you read Stephen Moore's column, he noted how the consensus over oil is wrong. We're not running out of oil. In fact, many have been saying we're going to run out since the 1930s: These stupid predictions of the end of oil have been going on for most of the last century. Just over 100 years ago, the U.S. Bureau of Mines estimated total future production at 6 billion barrels, yet we've produced more than 20times that amount. In 1939 the Department of the Interior predicted U.S. oil supplies would last 13 years. I could go on. The folks...
  • Houston gasoline average dips below $1.75 a gallon

    12/29/2015 9:54:41 AM PST · by thackney · 23 replies
    Fuel Fix ^ | December 29, 2015 | Jordan Blum
    The national average for a gallon of gasoline is holding steady right at $2, but the average price in the Houston area dipped below $1.75 a gallon this week, according to survey data from GasBuddy. The Houston average for regular unleaded ticked down to $1.73 this week -- the lowest since early 2009 -- while the statewide average is just slightly higher at $1.76 a gallon. Gasoline prices have plummeted so much this year because of the low price of U.S. crude oil, which is currently hovering above $37 a barrel, and the global glut of oil supply flooding the...
  • Oil refiners blame California regulations, import issues and refinery closure for high gas prices

    12/18/2015 4:52:49 AM PST · by thackney · 34 replies
    LA Times ^ | Dec 16, 2015 | Ivan Penn
    Clifornia's stubbornly high gasoline prices in 2015 resulted from state regulations, trouble with imports and an outage at a major refinery, the oil refining industry told regulators Wednesday. Speaking to the state Petroleum Market Advisory Committee for the first time since expensive California gasoline brought huge profits to oil refineries this year, the Western States Petroleum Assn. said the unusually large gap between the state's average price for a gallon of regular gas and the national average involved matters out of the oil refinery industry's control. "Clearly, there is a regulatory component for the situation that occurred this year," said...
  • Recent trends in net oil import dependence vary by region, This Week in Petroleum

    12/17/2015 6:36:30 AM PST · by thackney
    Energy Information Administration ^ | December 16, 2015 | Energy Information Administration
    Net imports accounted for 26.5% of total petroleum and other liquid fuels consumed in the United States in 2014, the lowest percentage since 1971. Data through the first nine months of 2015 indicate a further reduction of net imports, averaging 24.6% of total consumption of petroleum and other liquid fuels. Increased U.S. crude oil production has replaced some crude oil imports, while increased refinery runs and global demand growth for petroleum products resulted in increased U.S. petroleum product exports. As a result, the United States remains a net importer of crude oil but less so, and is increasingly a net...
  • Thank Fracking (But Only on Private Land) For Low Gas Prices

    12/14/2015 10:06:52 AM PST · by MichCapCon · 5 replies
    Michigan Capitol Confidential ^ | 12/13/2015 | Tom Gantert
    The state of Michigan is enjoying low gas prices (and on Nov. 30 had the lowest prices at the pump in the nation), something analysts are saying can be attributed in part to the increased production of oil in the U.S. Crude oil production in the U.S. has increased 63 percent from 5.4 million barrels a day in 2009 to 8.7 million barrels a day in 2014. That’s the most production on U.S. soil since 1986, according to the Energy Information Administration. That increase in domestic oil production can be attributed to hydraulic fracturing, commonly referred to as “fracking.” That...
  • Nationwide gasoline average may finally dip below $2 a gallon

    12/14/2015 7:45:46 AM PST · by thackney · 26 replies
    Fuel Fix ^ | December 14, 2015 | Jordan Blum PRINT
    Gasoline prices in Houston and nationwide are the lowest in seven years and should dip lower throughout much of the winter, according to GasBuddy survey data. The national average is stubbornly hovering at $2.01 a gallon for regular unleaded gasoline, while the Houston area's average is down all the way to $1.77 a gallon -- the lowest since a brief plunge during the Great Recession at the end of 2008 and early 2009. The Houston average is down 2.4 cents since last week. The overall Texas average is $1.80 a gallon, GasBuddy data notes. U.S. oil prices at $35 a...
  • Pemex launches in Houston with first gas station outside of Mexico

    12/04/2015 4:23:55 AM PST · by thackney · 33 replies
    Fuel Fix ^ | December 3, 2015 | Jordan Blum
    Mexico’s national oil company launched its first gasoline station outside of the country’s borders on Thursday in Houston, the first of several stations planned for the city. After Mexico opened its borders to foreign investment in the country’s oil fields in 2014, state-owned Petróleos Mexicanos, know as Pemex, has started to test its brand strength by competing in the U.S., with that effort beginning in Houston, said José Manuel Carrera Panizzo, the company’s chief of alliances and new business development. “We want to be put to the toughest test,” Carrera said of the competitive Texas gasoline market. “We’re trying to...
  • Crude oil storage capacity and inventories have increased in Cushing, Oklahoma and PADD 3 since Sept

    12/02/2015 12:07:15 PM PST · by thackney · 18 replies
    Energy Information Administration ^ | December 2, 2015 | Energy Information Administration
    Commercial crude oil inventories in Cushing, Oklahoma (located in Petroleum Administration for Defense District, or PADD, 2) and the Gulf Coast (PADD 3) totaled a record high 309.4 million barrels as of the week ending November 27 (Figure 1). Based on the recently released storage capacity and line fill data in the September Petroleum Supply Monthly (PSM), EIA estimates 70.2% utilization of working crude oil storage capacity in Cushing, Oklahoma and PADD 3 on a combined basis. This utilization level is only slightly below the record set in the week ending April 24 of this year. While often assessed separately,...
  • Gas prices down for 25 straight days

    12/01/2015 9:37:21 AM PST · by Responsibility2nd · 21 replies
    UPI ^ | 12/01/2015 | By Daniel J. Graeber
    WASHINGTON, Dec. 1 (UPI) -- For 25 days in a row, U.S. drivers have seen the retail price for gasoline fall and that should be the prevailing trend through year's end, AAA reports. The motor club reports a national average retail price for a gallon of regular unleaded gasoline at $2.04, a fraction of a cent less than Monday and 15 cents, or 6.7 percent, less than one month ago. In a weekly report on the retail sector, AAA said the end to an unusually busy season of refinery maintenance, largely in the Great Lakes states, and slumping demand are...
  • EPA boosts amount of ethanol in gasoline supply

    11/30/2015 9:57:05 PM PST · by Olog-hai · 57 replies
    Associated Press ^ | Nov 30, 2015 3:10 PM EST | Mary Clare Jalonick
    The Obama administration is boosting the amount of corn-based ethanol and other renewable fuels in the U.S. gasoline supply despite sustained opposition by an unusual alliance of oil companies, environmentalists and some GOP presidential candidates. The Environmental Protection Agency on Monday issued a final rule designed to increase production of ethanol to be blended with gasoline through 2016, a decision that could reverberate in Iowa's crucial presidential caucuses. The agency said it will require more than 18 billion gallons of renewable fuels in 2016, most of it ethanol. The amount is less than was set in a 2007 renewable fuels...
  • Why do you never see gasoline taxes itemized on your receipt? The answer will shock you

    11/27/2015 8:00:49 AM PST · by SeekAndFind · 45 replies
    American Thinker ^ | 11/27/2015 | Michael Bargo Jr.
    In April 2014, I suddenly realized that when you buy gasoline, the receipt does not list all the different taxes you have to pay.  So I emailed the Illinois Policy Institute ( and asked them to make up a facsimile of a gas receipt.  Here's what they came up with, and they featured it in a story on their website.  Turns out a gallon of gas in Chicago has eight taxes on it.  In Park Ridge adds two cents more.  (I think today they are higher.)  I went to a neighborhood gas station – the owner was a nice...
  • Detroit man, 91, beaten, doused with gasoline and set on fire in homicide (headline shortened)

    11/24/2015 6:42:14 PM PST · by ConservativeStatement · 18 replies
    New York Daily News ^ | November 23, 2015 | Tobias Salinger
    A 91-year-old man was beaten, covered with gasoline and set on fire in a homicide in northwest Detroit early Monday, police said. Officers and firefighters discovered Paul Monchnik's body when witnesses reported the blaze at the retired TV repairman’s Bentler Court home around 3 a.m., officials with the Detroit Police Department told WJBK-TV.
  • American forces to arrive in Syria 'very soon'

    11/22/2015 10:07:15 PM PST · by Mr. M.J.B. · 34 replies
    Arutz Sheva ^ | 11/23/2015 | Staff
    Dozens of American special operations forces will arrive in Syria "very soon," as promised by President Barack Obama's administration, a senior official said Sunday.
  • Ethanol loses its few friends: Even Dr. Ben Carson has backed away from subsidies and mandates

    11/21/2015 1:54:16 PM PST · by george76 · 50 replies
    CFACT ^ | November 17, 2015 | Marita Noon
    in a major policy reversal, Carson .. no longer supports subsidies for any industry, including U.S. ethanol producers ... Plainly irritated, the ethanol industry shot back immediately, saying it receives no government subsidies. But it neglected to mention a very important fact. Instead of subsidies, ethanol producers get something better: a mandate that orders refiners to blend ethanol into motor fuels which forces consumers to buy their product. A federally guaranteed market beats a subsidy every time. The ethanol industry also benefits indirectly from agriculture programs that support farmers who grow corn for ethanol ... In attempt to push more...