Posts Tagged ‘gasoline news’

Gas Prices on the Rise as Summer Driving Season Nears

Current average price nears last year's high mark.

by on Apr.11, 2018

Drivers can expect to start paying more at the pump as summer approaches.

Gasoline is getting more expensive and with the summer driving season just ahead prices are already closing in on last year’s high, according to AAA.

“Gas prices are only a penny away from topping the $2.67 high of 2017,” said Jeanette Casselano, AAA spokeswoman. A year ago, the average price of gasoline across the nation was $2.39 per gallon.

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“The price is likely to increase as spring brings warmer weather and the switchover to summer blend gasoline, but hopefully we will only see mild jumps in coming weeks,” Casselano said. (more…)

Gas Prices Dropping Just in Time for the Holidays

Winter demand is dropping while supplies remain strong.

by on Dec.21, 2017

Demand is dropping as winter sets in and fuel prices are beginning to fall in time for the holidays.

As motorists prepare for trips during the Christmas holidays, they will find the price of gasoline has declined this week but overall prices have increased by 20 cents per gallon compared with last year despite record oil production in the U.S. this year.

AAA reported the national average dropped three cents to $2.43 this week. Motorists in the Midwest are seeing the largest drops at the pump, by as much as 10 cents. However, two states are paying more on the week: Indiana where prices are up by 3 cents and Hawaii where prices have climbed by a cent.

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The national gas price average is 12 cents cheaper than one month ago, but that’s not the case compared to this time last year. (more…)

Regular Good Enough When Filling Up Gas Tank, AAA Says

Save your money and use what recommended for your vehicle.

by on Dec.12, 2017

The only difference between regular octane and premium octane gasoline for most vehicles is the price.

With automakers doing all they can these days to deliver more power from smaller and more fuel-efficient engines, it seems the easiest thing to do to help that along is to give your car, truck or SUV “the good stuff,” when you fill up, right?

Wrong. Using higher octane fuel for your vehicle, if it doesn’t require it, does not net any substantive increase in horsepower or improvement in mileage or emissions, according to a new AAA study.

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In essence, all you’re doing is throwing away perfectly good money you could spend elsewhere as the average price per gallon for premium gasoline is as much as 25% more than regular. It may not sound like much, but with the U.S. average hovering around $2.46 for regular and $3.01 for premium, you’re talking about between $7 and $10 on an average fill up. (more…)

Demand Driving Up Gas Prices Across US

Unrest in Middle East adding to pricing volatility.

by on Nov.10, 2017

Demand is on the rise across the U.S., which is causing gasoline prices to rise.

Demand for gasoline in October reached its highest levels since 2006 while supply continues to drop, leading to a surge in gasoline prices, particularly in the Midwest.

At the same time a new wave of unrest in the Middle East triggered by signs of instability in Saudi Arabia also has begun to drive up the price of crude oil across the globe, which could lead to even higher prices at the pump in the future.

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The latest gasoline demand measurement is the highest for the end of October since 2006. At $2.53, today’s gas price is six cents more than a week ago, two cents more than a month ago and 31 cents more than a year ago, according to the Energy Information Administration.  (more…)

Hurricane Threatens to Increase Gas Prices

Prices had been falling with end of summer driving season.

by on Aug.25, 2017

Gas prices are expected to rise if Hurricane Harvey makes landfall in Texas and Louisiana, as expected. (Photo credit: Brendan Strong)

With Labor Day, which marks the traditional end of summer driving season, fast approaching, gasoline prices dropped slightly this week, AAA reported. However, a hurricane expected to hit Texas and Louisiana in the next 24 hours now threatens to raise prices at the pump prior to holiday.

The petroleum industry is bracing for the impact of Hurricane Harvey, which is threatening both oil production in the Gulf of Mexico and refineries in an arc along the Gulf coast stretching from Houston to New Orleans.

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The Gulf accounts to about 17% of the country’s total crude production and coastal Texas and Louisiana account for 45% of U.S. refining capacity. (more…)

Reason to Celebrate: July 4 Gas Prices Plunge

Prices at pump are lowest since February.

by on Jun.28, 2017

Holiday drivers have reason to celebrate this Independence Day: the lowest average gas prices since February.

Despite a surge in demand for gasoline as the summer driving season picks up momentum, the national average price for gasoline is nearing an all-time low for the year at $2.26 per gallon, according to AAA.

AAA reported that the last time the national average was this low was February. In addition, the website Gas Buddy estimated that this is the first time in 17 years that the price of gasoline on July 4th is likely to be less than the price on Jan. 1 of the same year.

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Right now, AAA forecasts 37.5 million American will drive to their holiday destination, which may boost gas prices slightly. (more…)

Jaguar Teaming With Shell for In-Car Payment System

System offers increased security of financial information.

by on Feb.15, 2017

Jaguar and Shell teamed up to allow Jag – and Land Rover – owners to use the InControl to pay for gas without need for cash or a credit card on hand.

Today’s infotainment systems will tell you everything from how long it will take you get home to where the cheapest gas prices are located. Now, if you drive a Jaguar, it’ll even pay for the gas once you get there.

A new partnership between Jaguar and Shell allows drivers with the luxury brand’s InControl infotainment system to pay for gas without ever busting out a credit card or cash.

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“In a world where cash is no longer king, customers are increasingly using electronic payments and less cards,” said Peter Virk, Jaguar Land Rover’s director of Connected Car and Future Technology. (more…)

After Steady December Climb, Gasoline Prices Retreat in January

U.S. production levels continuing to increase.

by on Jan.31, 2017

Gas prices fell for the first part of January as U.S. production levels increased.

After climbing during the last month of 2016, the price of gasoline has retreated for the past three weeks, dropping to $2.27 per gallon, which is down four cents per gallon from a week earlier, according to the survey by AAA.

AAA said the growth in the number of U.S. oil rigs and the increased drilling it implies are raising expectations for a climb in domestic oil production.

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Meanwhile, increased U.S. crude oil production and reduced demand has exerted pressure on the national average price at the pump, which has fallen for 21 consecutive days, AAA said. (more…)

Gas Prices Starting to Fall in October

Some parts of country still over $2.50 a gallon.

by on Oct.20, 2016

Unexpected refinery maintenance has caused prices in some areas to rise slightly, but gas prices are down on average.

The national average price for regular unleaded gasoline has dropped for nearly two weeks after a brief spike during September, according to the information collected by AAA.

Unleaded gasoline was selling for $2.23.5 cents per gallon this week, AAA reported. The average price represents a decrease of two cents per gallon compared to one week ago, but remains five cents more than last month.

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Drivers across the country continue to see savings at the pump and are paying an average of three cents less per gallon year-over-year while the price of crude oil remains well below its historical highs, AAA said. (more…)

Pipeline Rupture Causing Gas Shortages

Areas of Georgia, Tennessee impacted immediately.

by on Sep.19, 2016

A ruptured section of pipeline in Alabama is causing gas shortages in some parts of Georgia.

A major pipeline that carries gasoline to the Eastern United States ruptured in Alabama, forcing part of it to shut down. The closure is threatening to drive up prices and create spot shortages of fuel along the Atlantic Coast and in the Southeastern United States.

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, Alabama.

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The 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 has yet to be determined, according to the company’s most recent statement. (more…)

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