Gas prices roared above $3.75 a gallon Wednesday, while oil prices fell after an Energy Department report gave a mixed picture of the nation's petroleum reserves. At the pump, the average national price of a gallon of regular gas rose 2.6 cents overnight to a record $3.758 a gallon, according to AAA and the Oil Price Information Service. Gas prices are 67 cents higher than a year ago and are expected to continue rising at least until the Memorial Day weekend. The Energy Department recently forecast that prices will peak next month at a monthly average of $3.73 a gallon. But that means prices may rise well above that level at times; many analysts expect prices to reach $4 a gallon on a national basis in coming weeks. End likely for drug
LOS ANGELES - The average price of a gallon of self-serve regular gasoline in Los Angeles and Orange counties was essentially unchanged this weekend, according to figures from AAA and the Oil Price Information Service. Unleaded gas prices fell one-tenth of a cent today in Los Angeles County, the 29th decline in 31 days, while the Orange County average price rose two-tenths of a cent, just the second increase in 32 days.
Gas and oil prices jumped to highs again Thursday as the dollar weakened, although crude's advance was limited by fresh evidence of a U.S. economic slowdown. At the pump, gas prices surged 2.1 cents to a record national average of $3.267 a gallon, according to AAA and the Oil Price Information Service. Gas prices are likely to rise much higher this spring; estimates range from about $3.50 a gallon in the Energy Department's latest forecast to $3.75 or even $4 a gallon, according to some analysts. Gas and diesel are following crude, which has risen to records in 12 of the last 13 trading sessions. Light, sweet crude for April delivery rose 41 cents to settle at a record $110.33 a barrel on the New York Mercantile Exchange after earlier surging to a trading record of $111. Southwest back ...
Oil prices fell Monday when an OPEC official said the cartel may boost output, calming concerns about tight supplies. "I would not exclude the possibility of increasing production if the market wants it," said Chakib Khelil, Algeria's oil minister, who takes over as president of the Organization of Petroleum Exporting Countries on Jan. 1. Khelil also said current oil supplies are sufficient. Data released by oil tanker-tracker Petrologistics shows OPEC oil exports already have risen by about 400,000 barrels a day, analysts said. As the oil supply picture is improving, concerns about weakening demand are rising. At the pump, gas prices fell 0.2 cent to a national average of $2.996 a gallon, according to AAA and the Oil Price Information Service. Gas prices have mostly fallen since peakin...
The going price for information about 1.1 million customers in the Baltimore Gas & Electric Co. service territory will be $715. On Wednesday, the state Public Service Commission approved BGE's request to provide customer information to competitive electric and natural gas suppliers for a fee.
Oil prices rose Monday after a volatile session in which prices changed directions several times as investors placed bets on whether OPEC oil ministers will increase production during a meeting later this week. At the pump, meanwhile, gas prices fell 2.7 cents overnight to a national average of $3.061 a gallon, according to AAA and the Oil Price Information Service. Analysts expect gas prices to continue sliding in the weeks to come, as long as oil prices continue to fall. Crude futures have dropped about $10 in one week on the belief that the Organization of Petroleum Exporting Countries have all but decided to boost production. Light, sweet crude for January delivery rose 60 cents to settle at $89.31 a barrel on the New York Mercantile Exchange. Airlines reverse $20 hike
Gas prices hit $5 per gallon in some areas HOUSTON (AP) -- Pump prices jumped above $5 per gallon in some parts of the country Sunday as Hurricane Ike, which caused less destruction than feared, left refineries and pipelines idled and destroyed at least 10 offshore platforms in the Gulf of Mexico. Far beyond areas struck directly by high winds and flooding, Ike left behind it a bizarre pattern of prices at gas pumps, with disparities of more than $1 per gallon in some states, and even on some blocks. Average prices exceeded $4 per gallon in Illinois, Indiana, Michigan, South Carolina, Hawaii and Alaska, according to auto club AAA, the Oil Price Information Service and Wright Express. States fed directly by refineries along the Gulf Coast were particularly hard hit and supply may be spor...
NEW YORK - There were some smiles at the gas pump on Monday as the average price of a gallon of unleaded regular dropped by a couple of cents across the country. The average retail price of gasoline is $2.75 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's down 2 cents from Friday and 2.4 cents from a week ago. Gas is 11.3 cents a gallon higher than a year ago.
NEW YORK The upward trend in energy prices showed no sign of abating Wednesday as gasoline set yet another record at the pump and crude oil topped $112 a barrel for the first time in the futures market. The national average price of a gallon of regular unleaded gas rose 1.2 cents to a record $3.343 a gallon, according to a survey of gas stations by AAA and the Oil Price Information Service. With the peak summer driving season still to come and gas following crude higher, the fuel may well reach the retail price of $4 a gallon that the Energy Department has been forecasting.
The cries from drivers filling up their vehicles were even louder Tuesday as the average price of gasoline hit a national record. The American Automobile Association and Oil Price Information Service reported that the average price of unleaded gas was $3.2272 a gallon.
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