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Energy / Gas Prices

  • Fluctuating Gas Prices Can’t Dent Americans’ Love Affair With Their Cars

    The national average price for a gallon of unleaded regular gasoline may be 15 cents higher than this time last year, but the fact that gasoline prices in general are trending lower has kept American drivers from reducing their time on the road, according to the American Automobile Association.AAA reported that the national average price for a gallon of regular unleaded gasoline right now is $3.67, which is a nickel higher than last week’s price and 15 cents higher year-on-year.In general, however, gasoline prices are down compared with previous years. The average price at this time in 2012 was $3.92…

  • U.S. Gas Prices Rise, but not because of Global Factors

    Global energy markets are jostling between the return of Libyan crude oil and lingering tensions over Ukraine. It's domestic supply and demand issues, however, that are weighing on U.S. gasoline prices, AAA said Monday. Prices waxed and then waned amid dueling overseas developments. Last week, Russian President Vladimir Putin warned European energy security was at risk because of Kiev's debt obligations. The state-run oil firm in Libya, however, said the port of Zawiya and associated oil infrastructure were open and operating normally after protesters there ended their blockade. West Texas Intermediate traded Monday morning at $103.74, up 0.34 cents from the previous…

  • Japan’s Uncertain Energy Future

    This column is being written later in my day than usual as I was completing a two-part interview with the NHK network, the PBS of Japan.  In two marathon sessions, their producers grilled me on every angle of energy for two one-hour documentaries they’re preparing for the end of May. The show is the Japanese version of “60 Minutes” and the most watched show in Japan.  The experience was fascinating but also focusing, because being questioned by the Japanese reminded me, if I ever forget, of the global nature of the energy question and the particular challenges that Japan faces.This…

  • U.S. Oil Boom Makes Gas Cheaper, but not by Much

    Crude oil sourced in the United States is cheaper and therefore means less pain at the pump for American drivers. When adjusted for inflation, however, the price for a gallon of regular unleaded gasoline is still high because of international dynamics, AAA said Monday. "Cheaper domestic crude has a significant effect on the price most of us pay at the pump," AAA spokesman Michael Green told Oilprice. "U.S. refineries have access to cheaper crude oil than their overseas competitors, which provides a lucrative business advantage." The U.S. Energy Information Administration said U.S. oil production should hit 9.6 million barrels per day before…

  • Spring Fever Could Lead to Increase in Gas Demand

    The national average price for a gallon of regular unleaded gasoline for Monday is the highest it's been since Sept. 11. Demand may increase along with the price at the pump for April, though a short-term plateau may be within site, AAA said. Michael Green, a spokesman for AAA, told Oilprice demand for gasoline is expected to increase as a long winter starts to ease across much of the country. "Given how cold it had been earlier in the year, it would not be surprising to see pent-up demand result in significant gasoline consumption in the coming weeks," he said. Related Article:…

  • Canada Approves LNG Exports for Project Hopefuls

    While liquefied natural gas (LNG) export terminals proposals are languishing under the measured pace of approval in the United States, Canada is approving licenses in advance for projects that don’t even have formal support from their backers yet. Seeking to become a major global supplier of LNG, the Canadian government has approved four long-term export licenses for LNG projects on the Pacific Coast in British Columbia for the export of up to 73.38 million metric tons per year for 25 years.  The proposed export terminals would potentially be sponsored by Exxon Mobil, British-based BG Group and Malaysia’s state-owned Petronas, and…

  • Energy Investing for Yield

    Energy in its many forms is traditionally fertile ground for investors that want or need regular income from their investments. Utilities have, even in the last few years of ultra low interest rates and puny returns on bonds, often offered yields around 5% and many oil exploration and production Master Limited Partnerships (MLPs) have paid even more in pass through profits to investors. To those of us who remember the 80s, this is hardly stellar, but compared to a 2.5-3% yield on the US 10 year is quite acceptable. This has provided a much needed source of income for many…

  • Relief in Sight for Gasoline Prices, AAA says

    The long, hard winter in the United States has kept demand for gasoline lower than usual, though drivers have still seen an increase in price nearly every day for more than a month. The seasonal increase in retail gasoline prices in the United States, however, may be coming to an end as refineries wrap up their maintenance activities, AAA says.AAA spokesman Michael Green told Oilprice refinery maintenance and the switch to the summer blend of gasoline is responsible for the increase, which amounts to 25 cents per gallon over the course of 38 days.AAA reported a national average retail price…

  • What Would U.S. Energy Exports do to Prices at Home?

    Lawmakers in Washington say expanded energy exports could strengthen the U.S. hand overseas while at the same time shielding the economy from overseas shocks. How that affects U.S. consumers, however, depends largely on forces at home, AAA said Monday. With Russian holding the energy cards in Eastern Europe, House Speaker John Boehner, R-Ohio, said it was time for Washington to act. In a letter to Central European leaders, the speaker said President Barack Obama should sign off "immediately" on pending export requests for liquefied natural gas to help U.S. allies overseas. At the IHS CERA Week energy conference in Houston last week,…

  • Lingering U.S. Winter and Ukrainian War Could Spark Perfect Gasoline Storm

    The extreme winter weather pounding the eastern half of the United States is keeping many drivers at home. That means less demand along with lower prices at the pump compared to last year. Unless something gives, however, geopolitical issues in Ukraine could spell trouble for consumers, AAA said Monday. AAA reported a national average price for a gallon of regular unleaded gasoline in the United States of $3.46, a price that's 17 cents higher than the same time last month but 30 cents less year-on-year. The national average price for Monday, however, is the highest since Sept. 24 and marks the…