Subscribe free to our newsletters via your
. GPS News .




OIL AND GAS
U.S gas price decline breaks '08 recession record
by Daniel J. Graeber
Washington (UPI) Dec 23, 2014


disclaimer: image is for illustration purposes only

The U.S. price for a gallon of regular unleaded gasoline has declined for the longest stretch since the so-called great recession, motor club AAA reported.

AAA reports a retail price for a gallon of regular unleaded gasoline for Tuesday at $2.38, about a penny less than Monday and 87 cents less than this date in 2013.

The price for a gallon of gasoline has declined every day since Sept. 25, or 89 days in row, which is longer than any period on record for the motor club. The decline streak breaks the previous 86 day record set in 2008, when the global economy slipped into recession.

While several cities are selling gas below the $2 mark, no state is reporting a state average below that threshold. Missouri may be the first, however, with a state average price for Tuesday of $2.05.

Though jeered at the time, former House Speaker Newt Gingrich said on the presidential campaign trail in 2012 gas could fall to around $2 per gallon if more emphasis were placed on domestic energy production.

The low price at the pump is a reflection of a crude oil market skewed toward the supply side in a weak global economy. The United States is producing about 9 million barrels of oil per day.

In today's dollars, the average price per gallon based on Gingrich's predictions would be $2.08 per gallon.

AAA warned the low cost of crude oil could curb U.S. domestic oil production.

"Tumbling global prices have the potential to impact supply by slowing production in higher cost regions, which includes the United States," it said in a Monday 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




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





OIL AND GAS
Russia may scrap arctic oil ambitions
Moscow (UPI) Dec 22, 2014
Russian oil company Rosneft said Monday it may have to postpone its drilling program in the arctic temporarily, but doesn't rule out future operations. Nikolai Malyshev, Rosneft's deputy director for operations on the Russian continental shelf, said the company was rethinking its current programs because of a lack of viable partners. "Maybe, due to the deterioration of the situat ... read more


OIL AND GAS
Former Guatemala gum growers live off sustainable jungle

Chinese high rollers send pigeon prices soaring

Ancient wisdom boosts sustainability of biotech cotton

Home on the Range

OIL AND GAS
Switching to spintronics

Germanium comes home to Purdue for semiconductor milestone

Room temp quantum optics chip geneates tunable photon-pair spectrum

Unusual electronic state found in new class of unconventional superconductors

OIL AND GAS
Airbus will not scrap A380s despite order drought: CEO

Air China orders 60 Boeing 737s for more than $6 bn

BOC Aviation adds two more Boeing jets to earlier order spree

Netherlands lifts suspension of NH90 helicopter deliveries

OIL AND GAS
Honda to recall almost 570,000 vehicles in China

Rice study fuels hope for natural gas cars

Google self-driving car prototype ready to try road

Dongfeng, Huawei partner for Internet-enabled cars

OIL AND GAS
US officials see progress in China trade talks

WTO appeals panel sides with China in US anti-dumping duties row

Italy arrest 18 over China bank transfers via British company

China steps up plan for new export corridor into Europe

OIL AND GAS
Seeing the forest for the trees

NASA Study Shows 13-year Record of Drying Amazon Caused Vegetation Declines

Canadian Christmas tree exports to rise: minister

Latin America pledges to reforest 20 mn hectares by 2020

OIL AND GAS
CryoSat extends its reach on the Arctic

China publishes images captured by CBERS-4 satellite

ADS to build Falcon Eye Earth-observation system for UAE

China launches another remote sensing satellite

OIL AND GAS
Dartmouth researchers create 'green' process to reduce molecular switching waste

ORNL microscopy pencils patterns in polymers at the nanoscale

Nanoscale resistors for quantum devices

New technique allows low-cost creation of 3-D nanostructures




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.