|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
|
![]() |
![]() by Daniel J. Graeber Washington (UPI) Jun 16, 2015
Retail gasoline prices in the United States are making a surprise surge as high demand and ongoing refinery issues crimp supplies, motor club AAA said. AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.80 for Tuesday, about six cents higher than last week and 10 cents higher than one month ago. The motor club in its weekly fuel gauge report said the new high-water mark for 2015 is attributed to a decline in gasoline stocks caused in part by higher fuel demand and "persistent refinery problems, which has limited gasoline production." Separate analysis from price-watchers at GasBuddy.com found retail gasoline markets in the Midwest were among the hardest hit by refinery issues, with Indiana and Michigan posting the highest weekly gains with an average 27 cent increase per gallon. GasBuddy finds almost 90 percent of all retail service stations in the country are selling gasoline for more than $2.50 per gallon, up from 81 percent last week. The number of stations posting gas prices above $3.50, however, fell more than a full percentage point to 4.5 percent. The price-watching website said gasoline prices in the Great Lakes region should pull back as crude oil prices soften for June. AAA said in its report the cost of crude oil is the dominating factor in the price consumers pay for gasoline. "Saudi Arabia, the world's leading crude exporter, is reportedly prepared to increase its production to meet strong demand, which likely would keep a ceiling on the price of crude," it said. "Domestic production also remains elevated and is expected to remain at or near current levels, despite the reduction in U.S. oil rig counts." The U.S. Energy Information Administration said in a market report for June it expected retail prices to average $2.44 for full-year 2015 and $2.55 for next year.
Related Links All About Oil and Gas News at OilGasDaily.com
|
![]() |
|
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. |