Gasoline prices hit lowest point in 12 years Low crude oil prices continue to have wide reaching effects as the EIA predicts average gasoline prices this summer will be at their lowest point since 2004. The forecast price for summer 2016, which runs from April through September, is $0.59 per gallon lower than the average price last summer at just
Thanksgiving represents one of the heaviest travel times in the United States The cost of gasoline across the United States is averaging $2.09 per gallon, as of November 23—that’s 73 cents lower than a year ago, and the lowest level ahead of Thanksgiving since 2009, according to the Energy Information Administration (EIA). Over the course of the last six Thanksgiving
Supply from India, Russia and the UK Heading to the West Coast Gasoline prices in California has historically been among the highest in the United States, and the drop in supply after a refinery shutdown earlier this year is not helping. The Energy Information Administration (EIA) reports gasoline imports to California increased tenfold in the five months following a refinery
U.S. drivers hitting the road for the holiday weekend will save some extra cash at the pump, the Energy Information Administration reports current gasoline prices are the lowest since 2004. Average prices on August 31 were $2.51 per gallon – $0.95 lower than one year ago. The Gulf Coast is currently enjoying average prices below $2.20, while California drivers are
EIA lowers its price expectations The Energy Information Administration (EIA) lowered its price expectations for West Texas Intermediate (WTI) this week. The EIA’s new price deck expects WTI to average $49 per barrel for 2015, and $54 per barrel in 2016. The EIA’s updated price expectations are $6/barrel lower for 2015, and $8/barrel lower for 2016, than the administration’s previous
The EIA’s Short-Term Energy Outlook shows declining production as prices drop The U.S. Energy Information Administration (EIA) released its July Short-Term Energy Outlook (STEO) today, showing lower production in the month of July as prices continue their downward trend. The EIA reported that U.S. crude oil production declined by 100 MBOPD in July compared with June. Production is expected to
California gas prices $0.95 above national averages Nationally, the average price of a gallon of gas is just $2.77. But the average price in California is $3.72, with average prices in the L.A. area even higher at $4.05/gal, the Automobile Club of Southern California told the LA Times. Problems with refining, along with California’s stricter rules for gasoline, have sent
