Space Industry and Business News  
OIL AND GAS
Demand pulling U.S. gasoline prices higher
by Daniel J. Graeber
Washington (UPI) Apr 26, 2016


disclaimer: image is for illustration purposes only

Consumer demand for gasoline is pushing the price at the pump higher for Americans, though it remains low historically speaking, retail analysis finds.

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.14, about 1.4 percent higher than last week and more than 5 percent than this time in March. At this time last year, the national average was $2.53 per gallon.

Retail prices typically elevate during the spring as refiners switch from a winter to a summer blend of gasoline, which is more expensive to make. Drivers, meanwhile, look to break cabin fever by hitting the roads and both factors influence the balance between supply and demand.

In a separate statement emailed to UPI, Will Speer, an analyst with retail price watchdog group GasBuddy, said gasoline demand is higher than in previous years.

"Leading the demand surge has been gasoline, where the Energy Information Administration shows year-to-date demand to be up 3.4 percent from last year and up 7.4 percent from 2014," he said.

AAA forecasts that refiners, however, are working to keep pace with demand, though that could present maintenance issues because of the strain on equipment and overall operations. A string of refinery issues in Midwest states last year pushed regional gas prices above the $3 mark, well above the national average at the time.

Nevertheless, AAA said that, by summer, U.S. drivers should see the lowest prices at the pump in more than a decade. The "mystery," it added, was where prices are headed for crude oil, which accounts for a large percentage of the price at the pump. With U.S. oil production in decline, and overseas producers considering holding their levels steady, oil prices are rallying strongly from lows below $30 per barrel earlier this year. If prices recover too strongly, AAA notes, U.S. oil production could start to recover.

"As a result of this dynamic, the global oil market is expected to remain well supplied, keeping the price at the pump relatively low compared to previous years," it said in its weekly retail market 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

Previous Report
OIL AND GAS
Some BG Group offices to close
London (UPI) Apr 25, 2016
Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. British energy company BG Group became a unit within the corporate structure of Royal Dutch Shell in early February. The $7 billion tie-up was the largest of its kind since Exxon and Mobil joined forces in the 1990s. Royal Du ... read more


OIL AND GAS
Nano-magnets produce 3-dimensional images

NASA studies 3D printing for building densely populated electronics

Liquid spiral vortex discovered

New material combines useful, typically incompatible properties

OIL AND GAS
Haigh-Farr showcases Antenna Solutions at DATT Summit

U.S. Army orders radios for Mid-East, African countries

Harris supplies tactical radios to African country

In-orbit delivery of Laos' 1st satellite launched

OIL AND GAS
Europe makes fourth attempt to launch Russian rocket

Sentinel-1B in position for liftoff

Arianespace cooperation with Russia remains smooth amid sanctions

Orbital ATK awarded major sounding rocket contract by NASA

OIL AND GAS
Satellite touchdown in run up to Galileo launch

Russian Glonass Satellite Scheduled for Launch on May 21

Glonass navigation system's ground infrastructure successfully completed

China launches 22nd BeiDou navigation satellite

OIL AND GAS
Heavy-lift helicopters test external load capabilities

Russian stealth bomber to carry hypersonic missiles

Experts examine new debris for MH370 clues

Delayed take-off for China's own regional jet

OIL AND GAS
Making electronics out of coal

A single-atom magnet breaks new ground for future data storage

Hafnium oxide used for new type of non-volatile memory

Quantum computing closer as RMIT drives towards first quantum data bus

OIL AND GAS
Penn to study intense awe astronauts feel viewing Earth from space

Sentinel-1B will complete European Radar Vision initiative

Sentinel-1 sees rice paddy drop in the Mekong Delta

DigitalGlobe delivers first phase of continent-scale mapping initiative for PSMA Australia

OIL AND GAS
China probes polluted school as parents urge action

Expect more unhealthy ozone days in the next decades: study

Pollutants in fish inhibit human's natural defense system

China air pollution shifts west in first quarter: Greenpeace









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.