Gasoline

Source: Reuters

Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom

US News


NEW YORK – Oil prices were mixed on Thursday, as concerns about a potential global recession that would knock energy demand offset lower crude inventories and a rebound in U.S. gasoline consumption.

Brent crude futures rose 28 cents

Source: Reuters

Global gasoline cracks collapse, blow to refiners’ profits

US News


A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on

July 25, 2022 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Gasoline
Source: Reuters

U.S. crude stockpiles dip, gasoline builds as demand slackens – EIA

Nasdaq


U.S. crude oil stockpiles edged lower last week but gasoline inventories posted a larger-than-expected build on weakened demand, the Energy Information Administration said on Wednesday.

 

Crude inventories USOILC=ECI fell by 446,000 barrels in the week to July 15 …

Source: CNBC

Biden says he’s considering gas tax holiday as admin targets July 4 announcement

CNBC


President Joe Biden said Monday that he is seriously considering a temporary halt in the federal gas tax as the White House looks to take steps to lower the cost at the pump ahead of the July 4 holiday.…

Source: CNBC

U.S. energy secretary to meet with refining executives over soaring pump prices, sources say

CNBC


U.S. Energy Secretary Jennifer Granholm is expected to meet with refining executives on June 23 as tensions between the White House and the oil industry mount over soaring gasoline prices, sources familiar with the matter told Reuters.

The planned …

Source: CNBC

Gasoline prices top $5 a gallon nationally for the first time and are likely headed higher

CNBC


The average price for a gallon of unleaded gasoline rose above $5 nationally for the first time due to increased demand from the economy reopening from the pandemic and depleted oil supplies stemming in part from the war in …

Source: Reuters

Oil jumps to 13-week high on rising U.S. gasoline demand

Yahoo Finance


NEW YORK – Oil prices jumped over 2% to a 13-week high on Wednesday as U.S. demand for gasoline keeps rising despite record pump prices, while expectations that China’s oil demand will increase faced growing supply concerns in …

Source: CNBC

Oil gains on tight supply as U.S. driving season looms

CNBC


Oil prices reversed early gains and moved lower Monday, despite U.S. fuel demand, tight supply and a lack of progress towards a European ban on Russian oil, as Shanghai prepares to reopen after a two-month coronavirus lockdown that fuelled …

Source: CNBC

Gasoline, diesel prices rise to another record amid rampant inflation

CNBC


Retail diesel and gasoline prices climbed to another record high Thursday, as rampant inflation sends costs across the economy surging.

The national average for a regular gallon of gasoline hit $4.418 on Thursday, according to AAA. The price …

Source: Reuters

U.S. retail gasoline prices hit new record, as refiners struggle to meet demand

Nasdaq


Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season.

The average cost …

Source: Reuters

U.S. states weigh tax breaks to ease pain at the gas pump

US News


A surge in U.S. retail gasoline prices to record highs has prompted governors and lawmakers in several states to consider slashing their fuel taxes and to ramp up pressure on the federal government to do the same.

The

Source: Reuters

U.S. gasoline markets point to bad news for Biden this summer

World Oil


(Bloomberg) –The gasoline market is painting a picture of tight supplies this summer — the last thing Joe Biden will want to see as he tries to contain high fuel prices.

On the New York Mercantile Exchange, futures …

Source: Fox Business

Biden asks FTC to investigate ‘illegal conduct’ by oil, gas companies as prices surge

Fox Business


President Biden on Wednesday called for the Federal Trade Commission to probe whether oil and gas companies are engaging in criminal conduct by profiting from artificially high prices at the pump, even as wholesale fuel costs decline.

Biden …

November 17, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Gasoline
Source: Reuters

Biden’s National Economic Council can’t settle on a plan as energy prices spike

World Oil


(Bloomberg) –One hour after U.S. government data showed on Wednesday that American inflation had soared to a 31-year high, President Joe Biden vowed to fight the surge as “a top priority.”

Key to his administration’s response, Biden said …

Source: Reuters

Putin’s pledge for more supply can’t stop Europe’s gas price surge

World Oil


(Bloomberg) –European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs.

Europe’s largest gas supplier is ramping up deliveries in line with requests from customers and …

Source: World Oil

Putin ready to send more Russian gas to Europe, blames flawed policies for shortage

World Oil


MOSCOW (Bloomberg) – Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply.

Europe’s largest gas …

Source: Yahoo Finance

Biden’s options to tame gas prices clash with his climate agenda

Bloomberg


President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions.

But he has little power to control global energy markets.

“The toolbox …

Source: Reuters

European gas prices hit all-time highs as Russian flows slump

Nasdaq


MOSCOW – European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season.

Russian gas supplies via the Yamal-Europe pipeline …

Source: NY Post

Biden demands OPEC boost oil production amid rising gas prices

NY Post


The White House is pressuring OPEC and its allies to boost oil production in a bid to tackle rising gasoline prices — despite imposing tighter restrictions on US oil companies last year.

 

Biden’s National Security Advisor Jake …

Source: World Oil

Biden suspects “unlawful” oil and gas mergers are behind higher gasoline prices

World Oil


(Bloomberg) –The Federal Trade Commission is examining ways to crack down on mergers in the oil and gas industry and investigate whether gas station franchises are driving up gas prices as part of a Biden administration effort to …

Source: Reuters

Ida’s fury hits U.S. oil production, gasoline supplies

Nasdaq


HOUSTON – Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region’s offshore wells, nearly half its motor fuel production and closing energy-export ports.

 

The storm moved into Mississippi on Monday after leaving a …

Source: Reuters

BP to take full control of Thorntons stores in U.S. retail push

Reuters


BP Plc BP.L said on Tuesday it would buy the majority share it does not already own in its Thorntons joint venture from ArcLight Capital Partners LLC to expand its presence in the U.S. fuels and convenience retail business.…

July 13, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Gasoline
Source: Reuters

White House touts EVs, but not backing gasoline-powered phase-out date

Reuters


WASHINGTON  – The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles.

“These

India’s transport fuel demand remains under pressure

India’s transport fuel demand remains under pressure

argus

Delhi, 12 October (Argus) — Indian demand for transport fuels, except for gasoline, remained lower than year-earlier levels in September despite relaxations to the country’s Covid-19 lockdown measures because of collapsing businesses and record job losses.

Sales of diesel, …

October 12, 2020 - 5:42 am Economy, Gasoline, International
A New View of the Relationship Between Oil Prices, Gasoline Prices and Inflation Expectations

A New View of the Relationship Between Oil Prices, Gasoline Prices and Inflation Expectations

Dallas Fed


It has been considered self-evident until recently that oil prices drive inflation expectations, but new evidence calls into question this conclusion.

Conventional wisdom within macroeconomics is that U.S. inflation expectations respond to the level of the price of …

September 24, 2020 - 3:00 pm Commodity Pricing, Economy, Gasoline
Saudi gasoline stocks fall to multi-year lows

Saudi gasoline stocks fall to multi-year lows

Argus


Dubai, 20 September (Argus) — Saudi Arabia’s gasoline stocks fell to more than a six year low in July as a push to keep refinery run rates low coincided with an upswing in domestic gasoline demand with the easing …

September 20, 2020 - 11:30 am Economy, Gasoline, International