GPS News  
OIL AND GAS
Gas prices at six-month highs
by Daniel J. Graeber
Washington (UPI) May 3, 2016


disclaimer: image is for illustration purposes only

High consumer demand and a recovery in crude oil prices means U.S. drivers are paying the highest for gasoline in more than six months, market analysis finds.

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline of $2.22, up only a fraction of a percent from the previous day and 3.7 percent higher than last week.

"Gas prices are at their highest levels in more than six months, and the national average has remained above $2 per gallon for 40 consecutive days," AAA said in a weekly retail market report.

With winter in the rear-view mirror, AAA said it's seeing consumer demand for gasoline "break seasonal records" as drivers take to the road. That adds to the pressure building from April's rally in crude oil prices, adding on to the price at the pump.

Patrick DeHaan, a senior analyst with retail market analyst group GasBuddy, said consumer demand may be at its highest levels ever for the summer.

"Gasoline and oil prices have set new yearly highs as the imbalance of supply and demand may begin to shift as global oil production shows signs of slowing and gasoline demand is accelerating," he said in a separate emailed statement. "While oil inventories in the U.S. remain well-supplied for now, they are likely to start receding as refiners begin throttling up their operations after maintenance season."

From AAA's perspective, the increase in retail gasoline prices is expected to continue into the summer. AAA said that its gauge of consumer sentiment showed most people are growing frustrated with the pace of increase. It found the "vast majority" of those surveyed don't characterize the current price at the pump as "cheap" and more than 35 percent of those asked said gas prices are "too high."

That sentiment comes as gas prices for this date are their lowest since 2009. The retail price per gallon last year was $2.62.

Oklahoma had the lowest state average price in the nation at $1.98 per gallon.


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
PetroChina posts first quarterly loss since listing
Shanghai (AFP) April 29, 2016
PetroChina shares plunged on Friday, after the Chinese energy giant posted its first quarterly loss since listing overseas 16 years ago, as it struggled with the weak domestic economy and lower international oil prices. PetroChina lost 13.79 billion yuan ($2.14 billion) in the first quarter, reversing from a gain of 6.15 billion yuan for the same period a year ago, it said in a statement to ... read more


OIL AND GAS
Bioreactors ready for the big time

Indonesia takes aim at palm oil after forest fires

Australia blocks Chinese-led bid to buy biggest ranch

Million people urge Bayer to stop bee-killer pesticides

OIL AND GAS
NREL offers path to high-performance 2-D semiconductor devices

Making electronics out of coal

New technique to probe 'noise' in quantum computing devised

Nature Photonics: Light source for quicker computer chips

OIL AND GAS
China Eastern Airlines to buy 35 planes from Airbus and Boeing

Raytheon producing targeting system variant for Air Force

Airbus helicopters transferred to Royal Thai Navy

Pakistan, China building JF-17B prototype

OIL AND GAS
Google autonomous car project teams with FiatChrysler

China's Baidu eyes driverless car production by 2020

New graphene-based film may keep your next laptop cool

Volkswagen vows to overcome emissions-cheating crisis

OIL AND GAS
TTIP: a proposed trade treaty in troubled waters

Greenpeace leaks US-EU trade papers, fears for consumers

Australian Craig Wright says he created Bitcoin

US-EU trade deal 'risks' emerge in leak

OIL AND GAS
Cambodia to add 1 million hectares of protected forest

US national forests and grasslands could yield less water in future climate

Which trees face death in drought

Researchers look at how best to conserve forest giants

OIL AND GAS
Libya's Haruj volcanic field spotted from space

Satellite data latest tool in Indonesia's fight against illegal fishing

China's Earth observation satellite assists Ecuador quake relief

Sentinel-1B launched to complete radar pair

OIL AND GAS
Ultra-long, one-dimensional carbon chains are synthesised for the first time

Rice introduces Teslaphoresis to help assemble Nanotubes

Intracellular recordings using nanotower electrodes

'Honeycomb' of nanotubes could boost genetic engineering









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.