Space Travel News  
OIL AND GAS
High demand, high oil prices mean pain at the pump
by Daniel J. Graeber
Washington (UPI) Jan 30, 2018


Higher crude oil prices and an increase in consumer demand, even during the winter, means higher prices for gasoline, retail sector analysis finds.

Motor club AAA reports a national average retail price of $2.59 for a gallon of regular unleaded gasoline on Tuesday, about a penny more than Monday and 10 cents higher than one month ago. Only a handful of states saw the price at the pump decline last week.

Jeanette Casselano, a spokeswoman for AAA, said consumer demand has been surprisingly strong for January as winter months usually decrease the appetite for heavy post-holiday travel, but a rally in crude oil prices that lasted almost the entire month doesn't help either.

"Crude oil has been selling at very expensive rates the past few months," she said in a statement. "Those higher market prices are now trickling over to consumers at the pump."

Crude oil prices started the week in a tailspin, but jumped 5.5 percent, or $3.70 per barrel, over the span of the first eight trading days in January, according to U.S. federal data. In its weekly report, the U.S. Energy Information Administration said the level of oil stockpiles in the country dropped enough to push the level to its lowest point in three years, even as production continues to soar.

More U.S. oil is leaving the country as exports.

By market, the West Coast remains the most expensive in the country, with California taking top honors in the Lower 48 with a state average price of $3.28 per gallon, supported in part by a new fuels tax that went into effect last year. For that region, AAA said refineries were actually behind the ball and, as a result, gasoline inventories are lower than normal.

The Great Lakes region, meanwhile, is the most volatile. Illinois is tops in the region at $2.63 per gallon, while Ohio has a state average about 20 cents per gallon lower. The market as a whole might see some relief, provided the concentration of refineries can keep up, as federal data show gasoline inventories at their highest level since June.

Federal data show the average retail price for a gallon of regular unleaded gasoline was $2.42 last year and should be about 15 cents per gallon higher for all of 2018.

OIL AND GAS
House of Lords examines gas, electric markets post-Brexit
Washington (UPI) Jan 29, 2018
The British grid won't go dark after departure from the European Union, though the gas and electric market may be less efficient, parliament's review found. The British government under Prime Minister Theresa May continues to chart its course out of the EU. A study from the House of Lords said that too means leaving the EU's Internal Energy Market. "Our inquiry revealed strong su ... read more

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


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


Comment using your Disqus, Facebook, Google or Twitter login.

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

OIL AND GAS
OIL AND GAS
Opportunity gets dust cleaning and passes 45 kilometers of driving

Crater Neukum named after Mars Express founder

New technique for finding life on Mars

Next Mars Analog mission will help improve efficiency and reduce dust exposure

OIL AND GAS
Russian company declassifies 1973 report on Lunokhod-2 lunar rover

Possible Lava Tube Skylights Discovered Near the North Pole of the Moon

Funding runs dry for Indian Google X Prize lunar team

Astronauts: Trump's proposed Lunar mission will take time

OIL AND GAS
JUICE ground control gets green light to start development

New Year 2019 offers new horizons at MU69 flyby

Study explains why Jupiter's jet stream reverses course on a predictable schedule

New Horizons Corrects Its Course in the Kuiper Belt

OIL AND GAS
Viruses are everywhere, maybe even in space

Rutgers scientists discover 'Legos of life'

NASA study shows disk patterns can self-generate

Hubble finds substellar objects in the Orion Nebula

OIL AND GAS
Falcon Heavy rocket ready for fueling, static fire test

ISRO hopes GSAT-11 is the last Indian satellite to be launched by a foreign space agency

Rocket Lab successfully sends rocket into orbit

Aerojet Rocketdyne RS-25 test advances exploration efforts

OIL AND GAS
Space agency to pick those with the right stuff

China to select astronauts for its space station

China Focus: The making of heroes - the women and men of China's space program

China to launch first student satellite for scientific education

OIL AND GAS
Asteroid 2002 AJ129 to Fly Safely Past Earth February 4

NASA, USGS confirm Michigan meteorite strike

Study identifies processes of rock formed by meteors or nuclear blasts

NASA's newly renamed Swift mission spies a comet slowdown









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.