CNBC Gasoline prices are expected to be the highest for a Memorial Day weekend in seven years, and prices could stay elevated all summer, as Americans take to the road in a post-pandemic driving spree. The current average price for a gallon of unleaded gasoline of $3.04 per gallon, 16 cents more than a month ago and $1.08 per gallon
CNBC This weekend’s Memorial Day holiday could be a test for the gasoline market, depending on whether drivers in reopening states hit the road and then keep on driving. Gasoline demand is about 30% below where it was before states shut down in March. As the economy reopens, analysts are looking at traditional measures of supply and demand, but also
CNBC Where gasoline goes, ethanol follows, and both have been on a path to unprofitability. Ethanol prices have collapsed as gasoline demand dropped by half due to COVID-19 shutdowns. That because ethanol —a biofuel derived from corn — makes up about 10% of the gas in your tank. So imagine you’re the guy right now who founded the world’s largest
EIA expects retail gasoline prices to rise over the coming months As of this Memorial Day Weekend, the national average price for regular gasoline is hovering around $2.85 per gallon, just slightly below last year’s average price of $2.92. The EIA forecasts that current prices will reach the $2.92 mark in the coming months, however, as the summer season of
Today’s natural gas inventory report put the storage levels down by 209 Bcf for the week ended 12/16/2016, according to EIA’s Weekly Natural Gas Storage Report. This was roughly in line with expectations of a 204 Bcf draw. Current gas stocks currently stand at 3,597 Bcf, 5.9% below stocks a year ago and roughly in line with the five year average
Survey of Energy Industry Executives and Investment Professionals Focused on the Oil & Gas Industry In December, Oil & Gas 360® conducted a survey of industry executives and investors. We asked respondents to predict commodities pricing for 2016, as well as U.S. CapEx, global demand and U.S. production for the year ahead. Who are the respondents? 50% are executives from E&P,
If you look at the number of jobs lost, company market value lost, and the growing numbers of oil patch bankruptcies, 2015’s continued commodities price fall led to a lot of bangs and bruises in the oil and gas industry. 2015 was also a year in which readers of Oil & Gas 360® kept up with industry developments, company news
The California Senate removed requirements for a 50% reduction in petroleum use from SB 350 The California legislature passed a law today setting higher renewable energy use and fuel standards, but without a portion of the bill that would have called for a 50% reduction in petroleum use by 2030. The bill, Senate Bill 350, prompted a backlash from the
We’re determined to get the gas out: Netanyahu The Israeli Finance Ministry will adhere to demands from Noble Energy (ticker: NBL) and Delek to increase the price of gas from its offshore operations near the country. The two large exploration and production companies have been at odds with the government regarding resource prices and the monopolization of certain projects. The agreement from
Listed below are gas prices for the Denver, Houston and New York metropolitan areas for 2014. All have dropped roughly $1.00 on a year-over-year basis, with prices in Denver and Houston dropping by roughly 33% compared to last December and as much as 45% since the summer. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom,
