Space Travel News  
OIL AND GAS
Retail gasoline selling for a bargain
by Daniel J. Graeber
Washington (UPI) Feb 9, 2016


disclaimer: image is for illustration purposes only

Retail gasoline price movements may buck historic trends and not move up dramatically on seasonal pressures, motor club AAA reports.

Retail gasoline prices fell on average about a half percent overnight to $1.73 nationally for a gallon of regular unleaded. The price is 12.6 percent, or 25 cents, less than one month ago and 20 percent, or 45 cents, lower than this date in 2015.

Lower crude oil prices are in part behind much of the decline in retail gasoline prices. Low prices last year led to unplanned refinery outages in the Midwest, pushing prices in the region far above the national average.

Winter is usually characterized by lower demand as inclement weather keeps traffic volumes suppressed. By February, demand starts to pick up and refiners start preparing to make a summer blend of gasoline, which is more expensive to make because of additional environmental safeguards needed during warmer months. This usually combines to make February the point where retail gas prices start moving higher.

"Unlike previous years, both gasoline and crude oil supplies are at record levels and two of the nation's more volatile markets, the Midwest and the West, are both reporting ample supply," AAA said in a weekly retail market report. "The convergence of these factors may point to a possible shift in the status quo, provided crude oil prices remain relatively low and absent any major disruptions in supply or production."

Patrick DeHaan, a senior petroleum analyst with GasBuddy, said gasoline inventories in January were at their highest levels since 1990, leaving refiners with extra volumes of winter-blended gas that will need to be unloaded soon. This in turn should lead to "basement prices" at the pump for most consumers.

Oklahoma has the lowest state average in the nation at $1.40 per gallon. A quarter of all retail stations in the United States are posting prices at or below $1.50 per gallon. In the short-term, DeHaan said to expect gasoline prices to move even lower.

"But don't get too relaxed- the shift in specifications will lead to an eventual lift in prices once winter gasoline is gone," he said in an emailed statement.


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
DNO, Genel paid for Kurdish oil exports
Oslo, Norway (UPI) Feb 8, 2016
Two partners working in the Kurdish north of Iraq, DNO International and Genel Energy, said they received their regular payments for crude oil exports. "The payment, to be shared pro-rata by DNO and partner Genel Energy plc, includes $17.99 million toward the monthly entitlement for January exports and $3.46 million toward the recovery of outstanding entitlements for past deliveries," t ... read more


OIL AND GAS
Space Launch System's first flight will launch small Sci-Tech cubesats

Initial launcher assembly clears Ariane 5 for its payload integration process

ILS Proton Successfully Launches Eutelsat 9B for Eutelsat

Pentagon Can't Overcome Its Russian Engines Addiction: McCain

OIL AND GAS
Opportunity Reaches 12 Years on Mars!

4 people to live in an HERA habitat for 30 days at JSC

Sandy Selfie Sent from NASA Mars Rover

Getting real - on Mars

OIL AND GAS
ASU satellite selected for NASA Space Launch System's first flight

Lunar Flashlight selected to fly as secondary payload on Exploration Mission-1

Phase of the moon affects amount of rainfall

Russia postpones manned Lunar mission to 2035

OIL AND GAS
Pluto's widespread water ice

Pluto's blue atmosphere in the infrared

Charon's Night Side

Predicting planets: The highs and lows

OIL AND GAS
Astronomers discover largest solar system

Lonely Planet Finds a Mum a Trillion Km Away

Follow A Live Planet Hunt

Lab discovery gives glimpse of conditions found on other planets

OIL AND GAS
US Senator McCain to introduce bill to end use of Russian rocket engines

The Path to the Pad

Ascent Trajectories and the Gravity Turn

Bezos space firm duplicates reusable rocket breakthrough

OIL AND GAS
Last Launch for Long March 2F/G

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

OIL AND GAS
Inside Rosetta's comet

Small Asteroid to Pass Close to Earth March 5

Luxembourg's ultimate offshore investment: Space mining

Philae comet probe: World prepares for final farewell









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.