The pain of higher energy costs won't be going away soon, with oil prices expected to average above $100 a barrel next year, the federal Energy Department said Tuesday. The assessment came as the price of crude hit a record $122 a barrel in New York, and analysts for the investment bank Goldman Sachs released a forecast that oil prices could surge another 60% or more between now and 2010.
air-filter myth? Changing an air filter on a newer model car might not save you much gas. An Oak Ridge National Laboratory study found that replacing a clogged air filter on a car with a fuel- injected, computer-controlled gasoline engine does not improve fuel economy, but does improve acceleration by as much as 11 percent. Tests show that replacing a clogged air filter on an older car with a carburetor engine can improve fuel economy by as much as 6 percent. Source: The U.S. Department of Energy Increasing gas prices - they were hovering just shy of $3.50 in Dubuque this past week - have drivers paying more at the pump.
The average retail price of gasoline climbed 2 cents last week to $1.74 per gallon, the Energy Department said Monday, about a penny shy of the highest price since the department began collecting data. Together, the high prices for crude oil, strong demand and low commercial inventories made gasoline expensive this winter. Analysts expect those same trends to be in place this summer, the peak driving season.
WASHINGTON (AP) - Natural gas prices could increase as much as 71 percent in part of the United States this fall, raising the prospect of higher home heating costs this winter, the Energy Department reports. The department's statistical agency, the Energy Information Administration, reported Wednesday that price hikes will depend on how quickly oil rigs and Gulf coast refineries damaged by Hurricane Katrina can be repaired.
Gas prices to go higher According to an Energy Department report released Tuesday, gasoline prices are projected to be 25 cents a gallon higher than last year.
WASHINGTON - Consumer prices fell last month for the first time in a year because of a steep drop in gas costs. But Americans paid more for autos, clothes and hotel stays, driving prices outside of volatile food and energy costs up. The Consumer Price Index fell 0.2 percent in June, the Labor Department said Friday. Gas prices fell 6.8 percent, the steepest decline in 2 1/2 years.
Our country has spent untold sums to squeeze a couple of miles per gallon from our autos, to build wind farms on the crests of our rolling hills, and on many other technologies to reduce dependence on foreign oil and conserve our resources. We wasted capital and subsidies to promote ethanol production from corn, thereby raising food prices and generating no net energy gain -- all hype and no gain! Then we discover the shale gas fields and what do we do? Our own U.S. Department of Energy gives approval to start exporting liquified natural gas ("Natural gas prices set to jump with exports," June 12 and TribLIVE.com). We short-circuit environmental studies and rush to overdevelop these resources and create oversupply. Now, gas producers want to collect and distribute shale gas production t...
WASHINGTON -- At a corner Chevron station in downtown Washington, the price of regular grade gasoline is up to $2.95 a gallon -- and you might say it's a bargain. Across the street at an ExxonMobil station, the sign reads $3.09 without a customer in sight. In the shadows of the Watergate complex, the two stations waged a high-level price war Tuesday.
Drivers can thank the slower driving season and a glut of supply for the continuing slide in gas pump prices. Two surveys showed lower average retail gas prices across the country. The Energy Department's Energy Information Administration said a gallon of regular averaged $2.694 on Monday, down about
Where do they get these guys who forecast gas prices? The latest, Guy Caruso, head of the Energy Department's Energy Information Administration, says gas prices should peak at $4.15 a gallon in August.
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