The decline coincided with a sell-off in U.S. stock markets.
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Benchmark U.S. crude fell $1.22 to end the day at $104.01 per barrel in New York.
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Benchmark U.S. crude increased Monday by $2.21 to $105.23 per barrel in New York.
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Analysts think pump prices will top $4 a gallon nationally within the next couple of weeks, perhaps sooner. Then they could start to fall.
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Posted on March 30, 2012 at 6:29 am by Matt Smith in
Commodity Prices,
Gasoline,
Natural Gas
Given gasoline prices are getting close to record highs while natural gas prices plunder to further new 10-year lows, natural gas vehicles (NGVs) are not surprisingly receiving a lot of attention in the media at the moment.
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Natural gas prices tumbled Thursday after a surprising jump in U.S. supplies.
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The Senate on Thursday failed to advance a measure that would repeal tax incentives for the nation’s biggest companies and use the money to pay for extending clean-energy tax credits.
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President Obama made a firm call Thursday for the Senate to approve a measure repealing some of the oil and gas industry’s tax incentives, just ahead of a high-profile vote in the upper chamber.
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Benchmark U.S. crude fell by $1.92 to end at $105.41 per barrel in New York.
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Most Americans don’t credit President Obama with causing higher gasoline prices, but they do disapprove of how he’s responding to them, according to a new Reuters/Ipsos poll.
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Obama administration officials ripped into GOP proposals to tie Strategic Petroleum Reserve releases to increases in federal oil and gas land leases and require additional analyses of the economic impacts of several oil- and gasoline-related environmental regulations.
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Any money that consumers are saving on natural gas may be going into the gasoline tank.
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