Space Travel News  
OIL AND GAS
Gas prices volatile, but remain low
by Daniel J. Graeber
Washington (UPI) Jan 26, 2016


disclaimer: image is for illustration purposes only

Though the average U.S. price for a gallon of gasoline went up by a fraction of a cent, retail prices remain at their lowest in six years, market reports show.

Motor club AAA reports a national average retail price for a gallon of regular unleaded at $1.83, an increase of 0.05 percent from Monday but still the lowest for this time of year since 2009. From last week, the price at the pump is 3 percent, or around 6 cents, lower. Regular unleaded was around $2 at this time last year.

AAA attributes much of the decline in gasoline prices to lower crude oil prices. The price for the latter is in historic decline because markets are favoring the supply side. Demand for gasoline, meanwhile, is typically lower, adding further negative pressure to consumer prices.

Demand for gasoline was skewed lower by the winter storm system that buried much of the east coast under as much as 2 feet of snow. That demand factor, however, may be offset by refinery outages in the area. AAA reports a PBF Energy refinery in Delaware City, Del., was closed briefly because of a power outage during blizzard conditions.

Crude oil prices, meanwhile, increased 9 percent during trading Friday, which may influence the price at the pump in some regional markets.

"Thanks to the one-day super surge in a barrel of crude, some motorists may be facing some gas price hikes, most likely in the volatile Great Lakes region, while the rest of the country may face a bit of a mixed bag," analysts with retail group GasBuddy.com said in an emailed statement.

Ohio and Michigan are recording state average prices that are up about 9 cents. A consumer alert from GasBuddy shows Ohio consumers can expect the average price per gallon to increase from around $1.59 to $1.79.

Any rally in prices may be short lived as crude oil prices gave up most of Friday's gains during trading Monday. AAA said the rally in crude oil prices last week was the result of trading volatility as contracts expired and not an indication markets were pulling away from the supply side.

"Market fundamentals remain unchanged and a 'lower-for-longer' sentiment is beginning to prevail amongst speculators," it said in its weekly market report.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Oil services company Halliburton posts deep loss
Houston (UPI) Jan 25, 2016
Steep declines in the North American market were in part behind the 9 percent decline in revenue, oil field services company Halliburton said. Halliburton, which provides services to the drilling and production side of the energy sector, reported a $28 million loss for the fourth quarter, against a profit from the previous year's quarter of $901 million. Total revenue was down 9 percent ... read more


OIL AND GAS
Ariane 5 is readied for an Arianespace leading customer Intelsat

EpicNG satellite installed on Ariane 5 for launch

Building a robust commercial market in low earth orbit

NASA awards ISS cargo transport contracts

OIL AND GAS
Rover uses Rock Abrasion Tool to grind rocks

Thales Alenia Space to supply reaction control subsystem for ExoMars

Money troubles may delay Europe-Russia Mars mission

Opportunity Welcomes Winter Solstice

OIL AND GAS
Audi joins Google Lunar XPrize competition

Lunar mission moves a step closer

Momentum builds for creation of 'moon villages'

Chang'e-3 landing site named "Guang Han Gong"

OIL AND GAS
The Voyage of a Lifetime: New Horizons Marks 10 Years Since Launch

'Ninth planet' may exist in solar system: US scientists

Studying Pluto from 3 Billion Miles Away

Possible ice volcano on Pluto has the 'Wright Stuff'

OIL AND GAS
Follow A Live Planet Hunt

Lab discovery gives glimpse of conditions found on other planets

Nearby star hosts closest alien planet in the 'habitable zone'

ALMA reveals planetary construction sites

OIL AND GAS
Russia developing futuristic methane-powered rocket propulsion

Orbital ATK tests 3D-printed hypersonic engine combustor

Orbital ATK Receives Award for Rocket Propulsion System Development

China to debut new carrier rockets

OIL AND GAS
China aims for the Moon with new rockets

China shoots for first landing on far side of the moon

Chinese Long March 3B to launch Belintersat-1 telco sat for Belarus

China Plans More Than 20 Space Launches in 2016

OIL AND GAS
Exposed ice on Rosetta's comet confirmed as water

Exposed ice on Rosetta's comet confirmed as water

New Details on Ceres Seen in Dawn Images

Time running out for comet probe Philae









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.