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California gasoline prices have dropped by an average of 24.4 cents a gallon since hitting a record for the state on Oct. 9. But the decline hardly amounts to the relief from high prices that most motorists would love to see. Even with the drop in prices, the average cost of a gallon of gasoline in California is still a whopping 56.5 cents a gallon higher than the old record for [...] The average price of gasoline in California is $4.671 per gallon, up from $4.668 yesterday. This is according to the latest data from AAA’s Fuel Gauge Report.
This is a new all-time high. California’s gas supply has been squeezed by refinery outages, which are slowing coming back online. However, analysts point to the deceleration in th price increases as a welcome sign that the worst may soon be over. Read more: http://www.businessinsider.com/california-gas-prices-all-time-high-2012-10#ixzz28oNaUBFD California drivers awoke this morning to absolutely no relief at the pump as the state’s average price of gas hit $4.668, up from $4.655 yesterday. This is according to AAA Fuel Gauge Report, which was updated at 3:03 AM.
This is a new all-time high. There’s still been no official ruling on Gov. Jerry Brown’s petition to waive the state’s onerous fuel blend requirement. Read more: http://www.businessinsider.com/monday-california-gas-price-hit-new-high-2012-10#ixzz28iab4b7j NEW YORK — U.S. drivers will pay an average of 24 cents more per gallon for gasoline during this summer’s travel season, the government said Tuesday. Gasoline will cost an average of $3.95 per gallon through September, an increase of 6.3% from the same period last year, the Energy Information Administration predicted. The peak should come in May, when gas averages $4.01 per gallon, the agency said. Gasoline already has jumped by [...] (MoneyWatch) COMMENTARY Oil and gas prices are on the move, with the current national average for a gallon of regular gas at $3.61, up from $3.19 a year ago, according to AAA’s fuel gauge report. Before getting into the why, here’s a recent breakdown of where the money goes in pumping $1 of gas, according to the Energy Information Administration: Crude oil: 76 cents TULSA, Okla. (AP) – Republican presidential candidate Newt Gingrich is dangling the prospect of gas as low as $2 a gallon if he’s elected. The former House speaker has spoken in the past of gas dropping to $2.50 a gallon under a Gingrich administration. Monday’s prediction, coming as Gingrich campaigned in Oklahoma, contrasts sharply with rival Rick Santorum, who told an Ohio audience that big-city Americans should brace themselves for $5-a-gallon [...] by Jerry Edgerton This post originally appeared on CBS MoneyWatch. (MoneyWatch) With gas prices 40 cents a gallon higher than at this time last year and possibly headed for record highs, car shoppers will be focused on gas mileage. That MPG rating is an important — but not the only — cost factor to consider. Kelley Blue Book has run the numbers over a projected five-year period and picked total-cost winners among 2012 models. The formula includes purchase price; depreciation; insurance [...] Ronald D. White American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it’s likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year. In 2008, average gasoline prices had hit inflation-adjusted records [...] The psychological price-point of $4 a gallon is looming straight ahead, and will likely be hit before the end of the week, based on the rate of recent price escalation. The national average price of self-serve regular today is $3.967 a gallon, according to AAA’s Fuel Gauge Survey. That’s nearly a dime a gallon more than seven days ago. Already, motorists in many parts of the country are paying well in excess [...] The average price for a gallon of regular unleaded gasoline stands at $3.86 — more than 30 cents higher than just one month ago, according to AAA’s fuel gauge report. In an effort to combat rising prices, and presumably sway public opinion, President Obama last Thursday tasked the Justice Department with investigating the oil markets for evidence of fraud and manipulation that could artificially push up the price [...] NEW YORK – NEW YORK (AP) — Drivers in Washington, D.C., on Saturday joined motorists in five states who are paying more than $4 per gallon for gasoline. The average price for gas in New York could top $4 by early next week. Hawaii, Alaska, California, Illinois and Connecticut already have pump prices above that mark, according to AAA’s Daily Fuel Gauge. Hawaii has the highest [...]
WASHINGTON (AP) — Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame. The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February — double the 0.8 percent rise in the previous month. Outside [...] It won’t be long before we’re paying $4 a gallon for regular unleaded gasoline, at least if prices keep going up at their current pace. Prices have already surged 38 cents a gallon in metro Detroit since President’s Day and likely will jump again by early next week as crude oil prices shot up nearly $3 Friday to $104.63 a barrel. While Californians are already paying $4 [...] By Dian L. Chu, EconForecast Outlook 2011: Crude Oil & Gasoline, Escalator Up and Elevator Down Just in time for Christmas, On Wednesday, Dec. 22, U.S. gasoline prices hit an average $3 a gallon for the first time in more than two years, according to AAA’s Daily Fuel Gauge Report. Meanwhile, U.S. stocks and oil also climbed to the highest levels since 2008. Crude = 71% of Gasoline Price Crude [...] |
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