Space Industry and Business News  
OIL AND GAS
Iranian question mark hangs over U.S. gas prices
by Daniel J. Graeber
Washington (UPI) May 8, 2018

The steady rise in consumer gasoline prices in the United States is tapering off, but a question mark remains over the Iranian deal, analysts said.

U.S. President Donald Trump is expected to announce Tuesday afternoon what the government will do with an agreement that lets Iranian oil flow in the market in exchange for commitments from Tehran to scale back its nuclear research program. A consistent critic of the deal, Trump pulling out could lead to spikes in crude oil prices and consumers could feel the impact at the pump.

Motor club AAA reports a national average retail price of $2.81 per gallon of regular unleaded, more or less unchanged from last week.

"If this past week's moderate increases are any indicator of what's to come, the fast rate at which gas prices were increasing may be slowing down," AAA spokeswoman Jeanette Casselano said in a statement.

In a separate look, Patrick DeHaan, the lead petroleum analyst at GasBuddy, said the fate of the Iranian nuclear deal hangs over the moderation in consumer gas prices.

"Killing the deal may inflict more pain on motorists as it may lead to sanctions placed on Iran and their oil production, which would likely push oil prices higher," he said.

Before Trump announced Monday that a decision was expected later today, most analysts said they expected the average price for gas to hover in the upper $2 per gallon range for most of the summer.

By region, the West Coast remains the most expensive market, with every state but Arizona recording an average price above the $3 per gallon market. California is tied with Hawaii for the most expensive gas in the country at $3.63 per gallon.

A look at regional gasoline inventories could support the moderating trend, with California prices moving only by about 2 cents per gallon from last week. Federal estimates show gasoline inventories are higher than they were this time last year.

The Great Lakes, meanwhile, is the most volatile market in the country, with Indiana posting a 6 cent per gallon increase and Ohio posting an 8 cent per gallon decline. The region may be recovering after a refinery incident in Wisconsin, but gasoline inventories are on par with the historic average.


Related Links
All About Oil and Gas News at OilGasDaily.com


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


OIL AND GAS
Weatherford continues industry team-work trend
Washington (UPI) May 8, 2018
The trend in upstream collaboration continued with Weatherford International announcing it would collaborate with a pump specialist. Weatherford signed a memorandum of understanding with Valiant Artificial Lift Solutions to work on ways of bringing specialized pumps to the market. The pumps are designed for harsh and corrosive environments. Kyle Chapman, the president of the production division at Weatherford, one of the world's largest oilfield services company, said the agreement blend ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Can this invasive exotic pest make better materials for industry and medicine?

DARPA taps MIT for research on high-value molecules

Atomically thin magnetic device could lead to new memory technologies

It all comes down to roughness

OIL AND GAS
Silent Sentry: Protecting Space Communications

Harris tapped for counter communication systems

Russia Launches Heavy Rocket with Military Satellite

India Struggling to Establish Lost Link With Crucial Communication Satellite

OIL AND GAS
OIL AND GAS
Brexit prompts UK to probe developing satellite navigation system

US judge orders GPS monitoring for house-bound Cosby

GPS sensor web helps forecasters warn of monsoon flash floods

Open Geospatial Consortium announces the European Space Agency's upgrade to Strategic Membership

OIL AND GAS
Boeing, Airbus, GE among biggest losers from US Iran shift

French, US navy pilots train in the skies over Virginia

U.K. to receive Apache helicopter hardware from Lockheed

Navy taps Boeing to support Poseidon for Australian air force

OIL AND GAS
Smart microchip can self-start and operate when battery runs out

Laser frequency combs may be the future of Wi-Fi

Cheaper and easier way found to make plastic semiconductors

Water-repellent surfaces can efficiently boil water, keep electronics cool

OIL AND GAS
Moon holds key to improving satellite views of Earth

Twin spacecraft to weigh in on Earth's changing water

Earth's magnetic field is not about to reverse

China launches Zhuhai-1 remote sensing satellites

OIL AND GAS
Kanpur leads WHO blacklist of cities with worst air pollution

Mongolians sip 'oxygen cocktails' to cope with smog

Scientists: Impact of discarded munitions on ocean ecosystems unclear

India's top court slams govt over Taj Mahal decay









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.