eia gas prices

Gasoline prices are at their lowest in 11 years for the week leading into Labor Day

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The report from the U.S. Energy Information Administration noted that the last time prices were these low was 2004. The price of a regular gallon of gasoline is down 95 cents from the same time in 2014.

Changing US oil dynamics and cheaper gasoline

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‘Clack! cla-cla clack-clack clack-clack CLACK!!’ (today’s fanfare for Nonfarm Friday was played on football helmets to celebrate the start of college football season). It is the first Friday in September, which means we see official US employment data, aka nonfarm payrolls. Today’s report has showed 173,000 jobs were created in August, which was less than […]
Categories: Crude oil, Gasoline, Shale
(Photographer: Ty Wright/Bloomberg)

Labor Day weekend brings $1.4 billion in gas pump savings nationwide

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This weekend will feature the lowest gasoline prices in more than a decade with gas prices 99 cents cheaper than this time last year after a dip of 18 cents just in August, which was the greatest decrease since 2008, GasBuddy added. Average national gas prices were $2.44 a gallon Wednesday morning compared to $3.43 last year.
(Daniel Acker/Bloomberg)

Engineering firm director: Industry is “living in the past”

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A Petrochemical Update report with the American Petroleum Institute noted more than 70 percent of U.S. capital projects since 2002 have failed to meet all of their performance goals.
A very large smokestack flare burns off flammable product after an explosion in a processing facility at the ExxonMobil refinery in Torrance, Calif. on Wednesday, Feb. 18, 2015. A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons. Two workers suffered minor injuries. (AP Photo/Daily Breeze, Chuck Bennett)

Ramp up delayed for Exxon Mobil’s Torrance refinery

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A hearing set for Wednesday morning was delayed.
Armed security stands near an oil pipe at the Bryan Mound facility of the Strategic Petroleum Reserve  in Freeport, Texas. (Photo: Brett Coomer/Houston Chronicle)

Guest commentary: Time to fix the Strategic Petroleum Reserve

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Two retired Air Force generals make a case for the importance of the country’s Strategic Petroleum Reserve.
(Jeff Pachoud/AFP/Getty Images)

Gasoline prices dip sharply with end of summer driving season

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Average retail gas prices in Houston came in at $2.25 a gallon Sunday, down 7.1 cents per gallon in the past week.
Specialist Michael Pistillo, left, works with traders Gregory Rowe, center, and William McInerney on the floor of the New York Stock Exchange, Thursday, Aug. 27, 2015. U.S. stocks closed sharply higher after China's main stock index logged its biggest gain in eight weeks.  The Dow Jones industrial average climbed 369.26 points, or 2. 3 percent, to 16,654.77. (AP Photo/Richard Drew)

Oil market screaming lower to start the week

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Allrightee folks, this week is set to be a scream (R.I.P. Wes Craven) as we shimmy from August into September (hark, 114 shopping days until Xmas), and into a deluge of new economic data. Chinese equities overnight have wilted into the end of the month, racking up a 12.5% loss for August, while we’ve had […]
Categories: Crude oil, Gasoline
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Cost, length of Exxon’s cleanup still unclear after N.J. deal

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The cleanup, which can largely be overseen by private professionals instead of the state under a 2009 law, could take years, perhaps even decades.

Stabilizing markets overnight give way to a midweek crude move higher

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After last week’s EIA inventory report yielded a lower refining/higher imports-sponsored build to crude stocks, last night’s 7.3 million barrel drop from the API report is indicating we should see a fairly hefty draw from the EIA this morning. After last night’s last-minute sell-off in US equities, risk appetite has picked itself up again and […]
Categories: Gasoline