Subscribe free to our newsletters via your
. Space Travel News .




OIL AND GAS
U.S. gasoline demand flattens out
by Daniel J. Graeber
Washington (UPI) Sep 17, 2015


disclaimer: image is for illustration purposes only

Expectations that, despite historic lows for retail gasoline prices, demand next year should be flat and keep the price at the pump lower, a U.S. report said.

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.30 per gallon, about 7 cents, or 3 percent, lower than last week and 37 cents, or roughly 14 percent, lower than one month ago.

Weak global demand for oil and a slow growth in the economy has resulted in low crude oil prices, down more than half from last year. A report from the federal Energy Information Administration finds U.S. gasoline consumption is expected to increase 2.3 percent on the back of a strong labor market and lower gasoline prices.

"However, gasoline consumption is forecast to remain flat in 2016, as a long-term trend toward vehicles that are more fuel-efficient offsets the effects of other factors," the report said.

By 2016, the average fuel efficiency for cars and light trucks will be the equivalent of 35.5 miles per gallon. The White House in August mandated that, by 2025, fuel efficiency will be the equivalent of 54.5 mpg.

Efficiency, slowing demand in the waning months of the year and a refinery switch to a cheaper blend of gasoline should keep prices lower for the rest of the year. EIA expects an average retail price of around $2.11 per gallon for the fourth quarter of the year.

"The U.S. regular gasoline retail price, which averaged $3.36 per gallon in 2014, is projected to average $2.41 per gallon in 2015 and $2.38 per gallon in 2016," EIA said.

The 2015 forecast is unchanged from previous EIA forecasts, though the 2016 price is lower by 2 cents.

Summer refinery outages in the Midwest and West Coast skewed the national average price for gas upward, which EIA said added some volatility to the retail market. The national average in August was $2.64 per gallon, though some markets in regions impacted by the refinery outages saw prices pass the $3 per gallon mark.


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




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Upton: U.S. oil policies should match shale era
Washington (UPI) Sep 15, 2015
As the full House Energy and Commerce Committee considers lifting a ban on U.S. crude oil exports, a congressman said it's time policies match the shale era. By a voice vote last week, the Republican-led House Subcommittee on Energy and Power advanced legislation that would lift the ban on crude oil exports. The full House Energy and Commerce Committee considers the measure late ... read more


OIL AND GAS
First Ever Launch Vehicle to Be Sent to Russia's New Spaceport in Siberia

US Navy to Launch Folding-Fin Ground Attack Rocket on Scientific Mission

US Launches Atlas V Rocket With Navy Communications Satellite After Delay

FCube facility enters operations with fueling of Soyuz Fregat upper stage

OIL AND GAS
Team Continues to Operate Rover in RAM Mode

Ridley Scott's 'The Martian' takes off in Toronto

Mars Panorama from Curiosity Shows Petrified Sand Dunes

Sweeping over the south pole of Mars

OIL AND GAS
Moon's crust as fractured as can be

China aims to land Chang'e-4 probe on far side of moon

China Plans Lunar Rover For Far Side of Moon

Russia Eyes Moon for Hi-Tech Lunar Base

OIL AND GAS
New photos reveal Pluto's stunning geological diversity: NASA

New Horizons Probes the Mystery of Charon's Red Pole

New Horizons Spacecraft begins Intensive Data Downlink Phase

New Horizons Team Selects Potential Kuiper Belt Flyby Target

OIL AND GAS
Earth observations show how nitrogen may be detected on exoplanets, aiding search for life

Distant planet's interior chemistry may differ from our own

Earth's mineralogy unique in the cosmos

A new model of gas giant planet formation

OIL AND GAS
Construction Begins on Test Version of Important Connection for SLS

NASA Funds Plasma Rocket Technology for Superfast Space Travel

Green Propellant Infusion Mission Receives Propulsion System

Need for Speed: Star Trek Warp Drive is Within Our Grasp

OIL AND GAS
Progress for Tiangong 2

China rocket parts hit villager's home: police, media

China's "sky eyes" help protect world heritage Angkor Wat

China's space exploration potential has US chasing its own tail

OIL AND GAS
Ceres' Bright Spots Seen in Striking New Detail

Comet Hitchhiker Would Take Tour of Small Bodies

Comet Hitchhiker Would Take Tour of Small Bodies

Dawn Sends Sharper Scenes from Ceres




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - 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. 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. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.