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Tag Archives: gasoline prices
Steeply rising gasoline prices have had little effect on the used car market since most people are sticking with the current vehicle, according to the National Automobile Dealers Association. This is the opposite of what happened when gas prices rose as recently as last year. Continue reading
Total U.S. liquid fuels consumption fell by an estimated 850,000 bbl/d (4.5%) in the first quarter of 2012 from the same period last year, the Energy Information Agency announced this afternoon. However, hard-pressed consumers did not see that drop in demand reflected in the price of fuel since the energy markets do not always follow academic economic theory.
With the official short-term energy outlook due tomorrow from the federal government, some are predicting that gasoline prices in the U.S. have already peaked and will be heading back down again. Continue reading
What this means for the recovering U.S. vehicle market is unclear. New vehicle sales have been slowly rising but are still far below pre-Great Recession rates. What is clear is that this is bad news for drivers and energy consumers, is that global liquid fuels consumption is at historically high levels. Continue reading
The current national average price for regular unleaded gasoline is approximately $3.57 per gallon, about 86 cents higher than one year ago. Down nearly 10% from their May peak, gas prices will have less of an impact on Labor Day holiday travelers than they had on Memorial Day and Independence Day holiday travelers, during which 42% and 44% of travelers, respectively, stated gas prices would impact travel plans.
Americans Flying More, Driving Less as High Gasoline Prices Cut Auto Travel during the (Non) Independence Day Weekend
Travelers with household incomes of $50,000 or less is expected to decrease from 41% to 33%, while travelers with household incomes of more than $100,000 are expected to increase to 35% from 26%. Continue reading
Energy industry tax breaks will not however go away as a contentious political issue anytime soon with a soaring U.S. budget deficit that now requires borrowing 41 cents of every dollar spent, and gasoline prices at $4-$5 a gallon making voters angry. Continue reading
U.S. President Barack Obama in his weekly radio address to the nation on Saturday called expansion of domestic oil production and the elimination of $4 billion in taxpayer subsidies that oil companies are granted each year by the U.S. Congress. Continue reading
The U.S. average retail price of regular gasoline increased three and a half cents from last week to $3.88 per gallon, according to the U.S. Energy Information Administration.
This is $1.03 per gallon higher than last year at this time and is the highest price in April since the Energy Information Administration began tracking weekly data in 1990. Continue reading
AAA has a new Apple iPhone app that it says can save time comparing gasoline prices. The so called AAA TripTik Mobile feature is said to be the first app to offer access to frequently updated gasoline prices. Continue reading
There’s no better example of how rising fuel prices have changed the auto industry than the ongoing shift in demand for more efficient engines. The trend led by customer demand is also reinforced strongly by the first government increase in Corporate Average Fuel Economy in decades, which finally prompted reluctant auto executives to invest in technologies that produce significant decreases in the amount of fuel needed per mile traveled. Continue reading
At the end of December 2010 gasoline prices in the United States rose above $3 a gallon for the first time since October of 2008. The difference this time around is that in 2008 the pricing trend was downward, having … Continue reading