Subscribe free to our newsletters via your
. Space Industry and Business News .




OIL AND GAS
U.S. gasoline demand flattens out
by Daniel J. Graeber
Washington (UPI) Sep 17, 2015


disclaimer: image is for illustration purposes only

Expectations that, despite historic lows for retail gasoline prices, demand next year should be flat and keep the price at the pump lower, a U.S. report said.

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.30 per gallon, about 7 cents, or 3 percent, lower than last week and 37 cents, or roughly 14 percent, lower than one month ago.

Weak global demand for oil and a slow growth in the economy has resulted in low crude oil prices, down more than half from last year. A report from the federal Energy Information Administration finds U.S. gasoline consumption is expected to increase 2.3 percent on the back of a strong labor market and lower gasoline prices.

"However, gasoline consumption is forecast to remain flat in 2016, as a long-term trend toward vehicles that are more fuel-efficient offsets the effects of other factors," the report said.

By 2016, the average fuel efficiency for cars and light trucks will be the equivalent of 35.5 miles per gallon. The White House in August mandated that, by 2025, fuel efficiency will be the equivalent of 54.5 mpg.

Efficiency, slowing demand in the waning months of the year and a refinery switch to a cheaper blend of gasoline should keep prices lower for the rest of the year. EIA expects an average retail price of around $2.11 per gallon for the fourth quarter of the year.

"The U.S. regular gasoline retail price, which averaged $3.36 per gallon in 2014, is projected to average $2.41 per gallon in 2015 and $2.38 per gallon in 2016," EIA said.

The 2015 forecast is unchanged from previous EIA forecasts, though the 2016 price is lower by 2 cents.

Summer refinery outages in the Midwest and West Coast skewed the national average price for gas upward, which EIA said added some volatility to the retail market. The national average in August was $2.64 per gallon, though some markets in regions impacted by the refinery outages saw prices pass the $3 per gallon mark.


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
Upton: U.S. oil policies should match shale era
Washington (UPI) Sep 15, 2015
As the full House Energy and Commerce Committee considers lifting a ban on U.S. crude oil exports, a congressman said it's time policies match the shale era. By a voice vote last week, the Republican-led House Subcommittee on Energy and Power advanced legislation that would lift the ban on crude oil exports. The full House Energy and Commerce Committee considers the measure late ... read more


OIL AND GAS
First new cache-coherence mechanism in 30 years

One step closer to a new kind of computer

Researchers develop 'instruction manual' for futuristic metallic glass

DARPA seeks new composite process for making small parts

OIL AND GAS
BAE Systems modernizing Australia's military communications

GSAT-6 military satellite put in its orbital slot

45th SW supports 4th Mobile User Objective System satellite launch

Navy extends satellite support contract

OIL AND GAS
First Ever Launch Vehicle to Be Sent to Russia's New Spaceport in Siberia

US Navy to Launch Folding-Fin Ground Attack Rocket on Scientific Mission

US Launches Atlas V Rocket With Navy Communications Satellite After Delay

FCube facility enters operations with fueling of Soyuz Fregat upper stage

OIL AND GAS
Soyuz ready for liftoff with two Galileo satellites

Soyuz set to launch 2 Galileo navigation satellites

Mission team ready for Galileo launch

China Deploys New Security System to Ensure Safety at Military Parade

OIL AND GAS
Robotic landing gear could enable helicopters to take off and land anywhere

China, Russia plan new heavy-lift helicopter

Eurofighter says Kuwait purchasing 28 warplanes

Northrop Grumman speeds manufacture of F-35 center fuselages

OIL AND GAS
LEDs that use visible light to talk to each other and internet

First electric circuit with a magnetic insulator using spin waves

Researchers in Basel develop ideal single-photon source

Super-stretchable metallic conductors for flexible electronics

OIL AND GAS
Sentinel-2 catches eye of algal storm

First global antineutrino emission map highlights Earth's energy budget

SMAP ends radar operations

Russia to Develop Earth Remote-Sensing Satellite System for Iran

OIL AND GAS
World's turtles face plastic deluge danger

Fed up Tunisians go online to fight trash, rudeness

Poison in the Arctic and the human cost of 'clean' energy

Molting elephant seals add mercury to coastal seawater




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.