gasoline prices predictions september 2011 ; Political uprisings in Libya have caused oil prices to drop in recent days, and Louisiana drivers may see a benefit from the overthrow of Muammar Gadhafi. A goal of the rebel forces in Libya is to restart production in the country's oil fields. With more oil in the market, prices should be driven down. But Gamson said that the effects of Libyan oil production won't be seen in the near future.
The slowing national economy may have a silver lining for drivers: cheaper gasoline prices. The price of unleaded gasoline in the metro New Orleans area has fallen about 20 cents over the past month to $3.413 a gallon Friday, and the price is expected to keep sliding.
Any time there's disruption in an oil-producing region, it takes quite a while for the infrastructure to recover. We won't see the effects immediately.
gasoline prices will drop 10 cents in September from the current national average of $3.64 per gallon. In October, drivers could see prices drop another 8 cents per gallon.
Other factors could also play into the price of gasoline in the coming weeks., significant economic downturn to get gas prices back down to the mid-$2 range. Consumers likely won't see the full effects of the most recent drops at the pump for another two weeks.
Sixty-five percent of the cost of a gallon of gasoline is influenced by the price that a barrel of oil trades for on Wall Street. The other 35 percent, Smith said, is comprised of marketing and refining costs and taxes.
While there are occasionally immediate drops in gasoline prices, there is almost always a two-week lag between a dip in the price of oil and a decline in gas prices at the pump.
The Southern and middle regions of the U.S. generally see lower gasoline prices than the eastern United States, a trend that Gamson expects to continue. The Northeast imports its oil from overseas. But Midwestern and Southern states primarily use gasoline produced from oil that is found and refined in and around the United States.
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Showing posts with label gas. Show all posts
Showing posts with label gas. Show all posts
Sunday, August 28, 2011
Friday, August 19, 2011
Oil, gasoline, Natural gas, Price august 19 2011
Oil, gasoline, Natural gas, Price august 19 2011 ; Oil ended the day below $83 a barrel on Friday, finishing down about 4 percent for the week. That could spell more relief at the gas pump.
The national average for retail gasoline is $3.59 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's down 10 percent from this year's high of $3.98 on May 5. Gas could be around $3.25 a gallon by Labor Day and may drop as low as $3.15 by the end of the year, according to Fred Rozell, OPIS retail pricing director.
While gas may be headed lower, it's still taking a big piece out of household income. The median U.S. household income before taxes is almost $50,000 a year. In July families spent about $374 a month on gasoline, or around 9 percent of household income, according to Rozell. For the year, monthly gas expenses average about 8.4 percent, compared with 6.7 percent in 2010.
Benchmark West Texas Intermediate crude for September delivery fell 12 cents to finish at $82.26 per barrel on the New York Mercantile Exchange after earlier rising as high as $83.55 per barrel. It fell back as stocks sold off Friday afternoon. Oil traders have been watching stocks for signs about the direction of the economy.
In London, Brent crude rose $1.63 to end the day at $108.62 per barrel on the ICE Futures exchange.
Benchmark crude is still well above its lowest point in the past year. It finished at $71.63 a barrel last Aug. 24.
PFGBest analyst Phil Flynn thinks traders may have overreacted after oil fell nearly 6 percent Thursday on a batch of negative economic news. He said that traders will remain guarded until there is more clarity about where the economy may be headed.
Crude got some support Friday from a weaker dollar, which hit a new post-World War II low against the Japanese yen. Oil and other commodities are priced in dollars, so a weaker dollar makes them cheaper for traders who use other currencies. Oil lost some ground by the end of the day as the dollar got a little stronger.
In other Nymex trading for September contracts, heating oil rose 2.97 cents to finish at $2.9045 per gallon and gasoline futures added 5.08 cents to end at $2.8412 per gallon. Natural gas rose 4.8 cents to finish at $3.940 per 1,000 cubic feet.
The national average for retail gasoline is $3.59 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's down 10 percent from this year's high of $3.98 on May 5. Gas could be around $3.25 a gallon by Labor Day and may drop as low as $3.15 by the end of the year, according to Fred Rozell, OPIS retail pricing director.
While gas may be headed lower, it's still taking a big piece out of household income. The median U.S. household income before taxes is almost $50,000 a year. In July families spent about $374 a month on gasoline, or around 9 percent of household income, according to Rozell. For the year, monthly gas expenses average about 8.4 percent, compared with 6.7 percent in 2010.
Benchmark West Texas Intermediate crude for September delivery fell 12 cents to finish at $82.26 per barrel on the New York Mercantile Exchange after earlier rising as high as $83.55 per barrel. It fell back as stocks sold off Friday afternoon. Oil traders have been watching stocks for signs about the direction of the economy.
In London, Brent crude rose $1.63 to end the day at $108.62 per barrel on the ICE Futures exchange.
Benchmark crude is still well above its lowest point in the past year. It finished at $71.63 a barrel last Aug. 24.
PFGBest analyst Phil Flynn thinks traders may have overreacted after oil fell nearly 6 percent Thursday on a batch of negative economic news. He said that traders will remain guarded until there is more clarity about where the economy may be headed.
Crude got some support Friday from a weaker dollar, which hit a new post-World War II low against the Japanese yen. Oil and other commodities are priced in dollars, so a weaker dollar makes them cheaper for traders who use other currencies. Oil lost some ground by the end of the day as the dollar got a little stronger.
In other Nymex trading for September contracts, heating oil rose 2.97 cents to finish at $2.9045 per gallon and gasoline futures added 5.08 cents to end at $2.8412 per gallon. Natural gas rose 4.8 cents to finish at $3.940 per 1,000 cubic feet.
Monday, August 15, 2011
Average gas prices in Florida week august 13 2011
Average gas prices in Florida week august 13 2011 : Consumer confidence and crude oil prices have both declined recently and retail gas prices are expected to follow. At least one analyst blamed unemployment for both declines.
The average price cut in Florida over the past week was 7 cents a gallon, according to AAA.
Average unleaded gas prices in Florida
Current – $3.604
Today 3.589
Week Ago – $3.670
Month Ago – $3.663
Year Ago – $2.709
The average price cut in Florida over the past week was 7 cents a gallon, according to AAA.
Average unleaded gas prices in Florida
Current – $3.604
Today 3.589
Week Ago – $3.670
Month Ago – $3.663
Year Ago – $2.709
Sunday, July 24, 2011
Impact U.S. debt default, gas prices prediction could top $5 per gallon 2011
Impact U.S. debt default, gas prices prediction could top $5 per gallon 2011 : One of the many possible negative outcomes of Congress failing to reach a deal on raising the debt ceiling before Aug. 2 is gas prices could top $5 per gallon this year. A report in the International Business Times says that as oil prices push higher there is a risk of several scenarios that could prompt gas prices in the United States to top $5 per gallon.
“A U.S. government default that causes institutional investors to dump U.S. government bonds, triggering a plunge in the dollar, pushing up oil's price,” is one of the scenarios listed by a column in the paper. Petroleum costs are pushing near the $120 per barrel mark for Brent Crude, and West Texas Intermediate Crude is pushing close to $100 per barrel, according to the report.
Sustained unrest in oil producing nations in the Middle East or Africa also could lead to $5 gas, along with increased oil demand from emerging nations that could lead to an energy crisis.
Economists say high oil and gas prices impact more than just prices at the pump, and can hit everything from transportation to exports and even consumer spending. The Dayton region has long been a hub for trucking companies because of its central Midwest location and the intersection of Interstates 75 and 70. Con-Way Inc.bizWatch Con-Way Inc. Latest from The Business Journals Trucker heads to national competitionYRC Worldwide lands 0 million loanReport urges investors to avoid YRC Worldwide Follow this company has large operations in Dayton and Arkansas Best Corp.bizWatch Arkansas Best Corp. Latest from The Business Journals Gas prices continue climb over weekendYRC Worldwide lands 0 million loanYRC Worldwide lands 0 million loan Follow this company has 630 workers in Dayton.
Even larger shipping firms such as United Parcel ServicebizWatch United Parcel Service Latest from The Business Journals YRC Worldwide names Welch as CEO, finishes restructuringSanMar wants giant MN warehouseSecond-quarter profits expected to be strong Follow this company and FedEx Corp.bizWatch FedEx Corp.
Latest from The Business Journals Report: FedEx makes list of top 100 companies for MBA studentsTake this entrepreneur sniff testHire and hire: Steady growth foreshadows Honda Aircraft’s plans Follow this company , both of which have operations in the Dayton region, operate thousands of delivery trucks and could be hit, along with such other companies as pizza restaurants that rely on deliveries, such as Domino’s Pizza.
Earlier this year, about 72 percent of people in a recent Rasmussen Reports national telephone survey said they fear gas will reach $5 per regular gallon this year.
The national average for gas prices is $3.69 on Saturday, according to the AAA Fuel Gauge Report. However, several states currently have average prices of more than $4 per gallon.
In Dayton, the average price at the pump is $3.67, up $1 from this time last year. The higher gas prices has led to more profit and higher stock prices for some of the oil companies
“A U.S. government default that causes institutional investors to dump U.S. government bonds, triggering a plunge in the dollar, pushing up oil's price,” is one of the scenarios listed by a column in the paper. Petroleum costs are pushing near the $120 per barrel mark for Brent Crude, and West Texas Intermediate Crude is pushing close to $100 per barrel, according to the report.
Sustained unrest in oil producing nations in the Middle East or Africa also could lead to $5 gas, along with increased oil demand from emerging nations that could lead to an energy crisis.
Economists say high oil and gas prices impact more than just prices at the pump, and can hit everything from transportation to exports and even consumer spending. The Dayton region has long been a hub for trucking companies because of its central Midwest location and the intersection of Interstates 75 and 70. Con-Way Inc.bizWatch Con-Way Inc. Latest from The Business Journals Trucker heads to national competitionYRC Worldwide lands 0 million loanReport urges investors to avoid YRC Worldwide Follow this company has large operations in Dayton and Arkansas Best Corp.bizWatch Arkansas Best Corp. Latest from The Business Journals Gas prices continue climb over weekendYRC Worldwide lands 0 million loanYRC Worldwide lands 0 million loan Follow this company has 630 workers in Dayton.
Even larger shipping firms such as United Parcel ServicebizWatch United Parcel Service Latest from The Business Journals YRC Worldwide names Welch as CEO, finishes restructuringSanMar wants giant MN warehouseSecond-quarter profits expected to be strong Follow this company and FedEx Corp.bizWatch FedEx Corp.
Latest from The Business Journals Report: FedEx makes list of top 100 companies for MBA studentsTake this entrepreneur sniff testHire and hire: Steady growth foreshadows Honda Aircraft’s plans Follow this company , both of which have operations in the Dayton region, operate thousands of delivery trucks and could be hit, along with such other companies as pizza restaurants that rely on deliveries, such as Domino’s Pizza.
Earlier this year, about 72 percent of people in a recent Rasmussen Reports national telephone survey said they fear gas will reach $5 per regular gallon this year.
The national average for gas prices is $3.69 on Saturday, according to the AAA Fuel Gauge Report. However, several states currently have average prices of more than $4 per gallon.
In Dayton, the average price at the pump is $3.67, up $1 from this time last year. The higher gas prices has led to more profit and higher stock prices for some of the oil companies
Monday, July 11, 2011
gasoline prices in Naples risen 7.1 cents per gallon in the past week
gasoline prices in Naples risen 7.1 cents per gallon in the past week : Average retail gasoline prices in Naples have risen 7.1 cents per gallon in the past week, averaging $3.64 per gallon Sunday.
Local gas prices Sunday were 94 cents per gallon higher than the same day a year ago and are 12 cents per gallon lower than a month ago, according to NaplesGasPrices.com.
The local increase is slightly higher than the national average that has increased 6.3 cents per gallon in the last week to $3.63 per gallon. The national average has decreased 9.1 cents per gallon during the last month and stands 91.7 cents per gallon higher than this day one year ago.
Local gas prices Sunday were 94 cents per gallon higher than the same day a year ago and are 12 cents per gallon lower than a month ago, according to NaplesGasPrices.com.
The local increase is slightly higher than the national average that has increased 6.3 cents per gallon in the last week to $3.63 per gallon. The national average has decreased 9.1 cents per gallon during the last month and stands 91.7 cents per gallon higher than this day one year ago.
gas prices in New Hampshire july 11 2011
gas prices in New Hampshire july 11 2011 : After several weeks of tumbling prices, gas in New Hampshire is on the way up again.
Price-monitoring website newhampshirehasprices.com reported Monday that the average cost of a gallon of gas in the Granite State is up nearly four cents in the past week to $3.66.
That's three cents above the national average.
The website reports that gas is still more than a dime per gallon lower than it was a month ago, but a dollar more than at the same time last year.
Price-monitoring website newhampshirehasprices.com reported Monday that the average cost of a gallon of gas in the Granite State is up nearly four cents in the past week to $3.66.
That's three cents above the national average.
The website reports that gas is still more than a dime per gallon lower than it was a month ago, but a dollar more than at the same time last year.
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