(Oil Price) – U.S. gasoline prices have resumed their uptrend, with AAA reporting the national average at $3.161 per gallon of regular compared to $3.139 a week ago and $3.115 a month ago. The national average price of diesel has increased 0.8 cents and now stands at $3.632 per gallon. “The national average has inched higher, driven primarily by sharp gas price increases
CNBC Widespread flooding from Hurricane Ida and power outages on Tuesday slowed efforts by energy companies to assess damages at oil production facilities, ports and refineries. Nearly all of Louisiana lost electrical power on Monday after one of the most powerful hurricanes to hit the region downed transmission lines and flooded communities, leaving more than 1 million customers without power.
Reuters Trade groups representing U.S. public power and natural gas companies urged President Joe Biden to declare a gas emergency for last week’s extreme weather and authorize the secretary of energy to cap the price of gas. In a Feb. 19 letter to Biden, the American Public Power Association (APPA) and the American Public Gas Association (APGA) said the recent
EIA Disruptions to crude oil and condensate production from members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries have risen considerably since last year. These outages have contributed to reduced liquid fuel supply and, along with crude oil production declines agreed to among OPEC and partner countries (OPEC+), have contributed to global liquid fuels inventory draws since June.
Reuters Power prices in the U.S. West soared to record highs for a second day during a brutal heat wave as California utilities urged consumers to keep conserving energy to avoid more rotating outages with demand expected to hit an all-time high on Tuesday. On Friday and Saturday, the California ISO, which operates the grid for most of the state,
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