Solar Energy News  
OIL AND GAS
Low demand, high production means cheap gasw
by Daniel J. Graeber
Washington (UPI) Jun 20, 2017


Tepid consumer demand for gasoline and high levels of oil production from OPEC members means low prices at the pump, AAA said.

The motor club reported a national average retail price for a gallon of regular unleaded gasoline at $2.29, down a fraction of a percent from Monday, 1.8 percent lower than last week and 2 percent, or nearly 5 cents per gallon, less expensive than this date last year.

AAA said the drop in gasoline prices came in response to an increase in oil production from Libya and Nigeria, two members of the Organization of Petroleum Exporting Countries exempt from a multilateral agreement to stem output, and a drop off in consumer demand since the long Memorial Day holiday weekend.

"At 56 percent of gas stations nationwide, consumers can find gas for less than $2.24, which is below today's national average gasoline price of $2.29 per gallon," the motor club said in its weekly retail market report. "Across the country, gas prices dropped in all but four states on the week."

The national average price for gasoline has declined for 18 days in a row.

The West Coast remains the most expensive market in the country, though AAA said prices there are moderating, with California drivers seeing gasoline prices dip below the $3 mark. The motor club attributed the decline in gas prices to higher gasoline inventories and a surge in imports, noting prices could continue to decline if those trends continue.

The Great Lakes market remains the most volatile, in part because of the high concentration of refineries in the area. Ohio, for example, had a state average price at $2.11 per gallon for Tuesday, lower than last week by 4.5 percent and 15 percent, or 38 cents, less than this date in 2016.

"Growing inventory and mediocre demand will allow consumers to continue to reap the benefit of cheap gas prices," the motor club said of the region.

A federal report from June 6 predicted a national average price during the summer driving season, which runs from April through September, of $2.46 per gallon, compared with $2.23 per gallon last season. The higher forecast was because the government expected higher oil prices, though oil prices are 2.3 percent less than they were on the date of the federal report.

OIL AND GAS
Balance assurances give modest lift to oil prices
Washington (UPI) Jun 19, 2017
Crude oil prices edged slightly higher in early Monday trading after the Saudi oil minister injected a note of optimism into an otherwise lackluster market. Crude oil prices moved under $50 per barrel in early June on signs that supply-side strains were easing slower than expected. Some of the pressure has come from weak demand for consumer fuels like gasoline in the United States, the ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Scientists make plastic from sugar and carbon dioxide

Turning car plastics into foams with coconut oil

Scientists use new technique to recycle plant material into stock chemicals

Splitting carbon dioxide using low-cost catalyst materials

OIL AND GAS
Facebook gives bots ability to negotiate, compromise

Apple wants to rock the market with HomePod, faces challenges

Autonomous machines edge towards greater independence

AI gets so-so grade in Chinese university entrance exam

OIL AND GAS
It's a breeze: How to harness the power of the wind

ADB: Asia-Pacific growth tied to renewables

GE Energy Financial Services Surpasses $15 Billion in Renewable Energy Investments

U.S. states taking up wind energy mantle

OIL AND GAS
China's Mobike raises $600 mn to fund bike-sharing expansion

Scientists inch closer to wirelessly charging moving electric vehicles

Wireless charging of moving electric vehicles overcomes major hurdle in new Stanford study

Prized Hong Kong parking space sold for record $664,000

OIL AND GAS
Clean energy stored in electric vehicles to power buildings

Battery improvements spark HEV EV market breakthrough

Batteries from scrap metal

Scientists propose new method to correct common power problem in microgrids

OIL AND GAS
S. Korea to scrap all plans to build new nuclear reactors

Russia sells stake in Akkuyu nuclear plant project in Turkey

Japan court clears way for nuclear reactor restarts

AREVA-EWN consortium to dismantle the Reactor Pressure Vessel at Brunsbuttel

OIL AND GAS
Low-carbon trajectory is the only option, European leaders say

Divestment streak continues for British energy company Centrica

New ultrathin material for splitting water could make hydrogen production cheaper

Keeping the hydrogen coming

OIL AND GAS
Tropical peat forests risk turning from carbon "drains" to emitters

Activists block logging in Poland's ancient forest

Decomposing leaves are surprising source of greenhouse gases

Forensic analysis of wood's chemical signatures could curb illegal logging









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - 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. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. 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. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.