OilPrice.com | Energy | Gas Prices

OilPrice.com | Energy | Gas Prices Analysis of gas price movements and gas price forecasts. Learn how gas prices are determined and what effect gas prices have on the economy. http://oilprice.com/ Wed, 08 Feb 2012 20:13:26 GMT Oilprice.com (info@oilprice.com) Peak Oil's Affect on Gasoline Prices in 2012 http://oilprice.com/Energy/Gas-Prices/Peak-Oils-Affect-On-Gasoline-Prices-In-2012.html In recent days there has been much discussion in the press about what might happen to gasoline prices in the coming year. Cognizant of the fact that retail gasoline is currently running nearly 30 cents per gallon higher than it was in January 2008 the year when prices topped out at a national average of $4.11 and that gasoline futures have risen by 30 cents a gallon in the last few weeks, there is reason for concern. Typical of the stories is one from the Los Angeles Times that quotes Tom Kloza, long-time chief analyst for the Oil Price Information…

]]> postcarbon@oilprice.com (Post Carbon) Wed, 11 Jan 2012 23:27:50 GMT http://oilprice.com/Energy/Gas-Prices/Peak-Oils-Affect-On-Gasoline-Prices-In-2012.html New Report Shows Motorists How to Spend Less Money on Gasoline http://oilprice.com/Energy/Gas-Prices/New-Report-Shows-Motorists-How-To-Spend-Less-Money-On-Gasoline.html For many the idea that operating a motor vehicle can be much cheaper is a non-starting idea. Their real world experience won’t support the facts because their situation is most likely urban – or they’ll just lazy about taking care of their machines. Hypermilers, a term for those working at every inch of travel from every drop aren’t going to get a lift from what follows, but the folks at the University of Michigan have put real research into the basics that hypermilers use to go very far and the rest of us can use to save a bunch of money…

]]> james@pokemoncard.info (Brian Westenhaus) Mon, 12 Sep 2011 12:39:59 GMT http://oilprice.com/Energy/Gas-Prices/New-Report-Shows-Motorists-How-To-Spend-Less-Money-On-Gasoline.html Bachmann's $2 Gas Price Promise - Naive or Dishonest? http://oilprice.com/Energy/Gas-Prices/Bachmanns-2-Gas-Price-Promise-Naive-Or-Dishonest.html Like many of you, I am often unhappy with our political leaders. One thing that annoys me the most is that many will say or do just about anything to get elected. By now, you have surely heard the news that Republican presidential hopeful Michele Bachmann has promised a return to $2/gallon gasoline if she is elected president: GOP candidate Michele Bachmann: I’ll bring back $2 gas NEW YORK (CNNMoney) — President Michele Bachmann has a promise: $2 gas. “Under President Bachmann you will see gasoline come down below $2 a gallon again,” Bachmann…

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]]> pir@oilprice.com (Robert Rapier) Thu, 25 Aug 2011 13:22:31 GMT http://oilprice.com/Energy/Gas-Prices/Bachmanns-2-Gas-Price-Promise-Naive-Or-Dishonest.html Oil Price Drop offering No Relief for Motorists as Gas Prices Remain Unchanged http://oilprice.com/Energy/Gas-Prices/Oil-Price-Drop-Offering-No-Relief-For-Motorists-As-Gas-Prices-Remain-Unchanged.html The Reuters Jefferies CRB Index is down 8% so far in May with almost every single commodity in the index registering red. Even the ongoing geopolitical tension in the Middle East and North Africa has not been able to shield the ever bullish crude oil from the commodity rout. Both Nymex WTI and ICE Brent suffered heavy losses. In the two weeks ending Friday, May 13, Brent dropped about 10% to close at $113.83 a barrel on ICE, while WTI plunged 12% to $99.65 a barrel at Nymex, and RBOB gasolne futures for June also lost 8% to around $3.0766 a gallon.…

]]> chuld@oilprice.com (Dian L. Chu) Sun, 15 May 2011 0:07:42 GMT http://oilprice.com/Energy/Gas-Prices/Oil-Price-Drop-Offering-No-Relief-For-Motorists-As-Gas-Prices-Remain-Unchanged.html Rising Gas Prices and Political Scapegoats http://oilprice.com/Energy/Gas-Prices/Rising-Gas-Prices-And-Political-Scapegoats.html Summer is approaching, and that typically means rising gas prices. And when gas prices rise, our political leaders generally start looking around for someone to blame. Over the past few years it has become a regular ritual that as gas prices rise, the CEOs of our biggest oil companies will be marched to Washington D.C. for a public shaming that involves Congress grilling them on why they are doing such horrible things to the American public. Inevitably, we will spend tax dollars investigating the matter. And as was the case after Hurricane Katrina,…

]]> pir@oilprice.com (Robert Rapier) Tue, 26 Apr 2011 14:19:06 GMT http://oilprice.com/Energy/Gas-Prices/Rising-Gas-Prices-And-Political-Scapegoats.html Gasoline Prices and the Oil Supply Problem http://oilprice.com/Energy/Gas-Prices/Gasoline-Prices-And-The-Oil-Supply-Problem.html I paid $50 to fill my tank at a gas station in Maine this morning, at a cost of almost $4 a gallon. When the Actress muttered some comment of protest, I told her that she had better get used to the price, because it is hard to see any normal reason for a decline in that price in the near future. The EIA TWIP today was discussing the transportation fuel market this summer, and begins by noting: Regular-grade gasoline retail prices, which averaged $2.76 per gallon last summer, are projected to average $3.86 per gallon during the 2011 driving season.…

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]]> summersd@oilprice.com (Dave Summers) Fri, 15 Apr 2011 14:09:08 GMT http://oilprice.com/Energy/Gas-Prices/Gasoline-Prices-And-The-Oil-Supply-Problem.html Pinched By $4 Gasoline? Blame The Big Banks http://oilprice.com/Energy/Gas-Prices/Pinched-By-4-Gasoline-Blame-The-Big-Banks.html Yes, that's right! The same Big Banks that taxpayers bailed out during the financial crisis are now jacking up oil and gasoline prices (Fig. 1), thus making consumers pay yet once again at the gas pump. Don`t buy into the hype fed to the media by the Big Banks about impending global oil supply crisis due to the unrest in the MENA (Middle East and North Africa) region. It All Started With Jackson Hole…. This run-up in oil prices started with Fed Chairman Bernanke`s Jackson Hole speech where the big banks realized they were going…

]]> chuld@oilprice.com (Dian L. Chu) Thu, 07 Apr 2011 12:05:26 GMT http://oilprice.com/Energy/Gas-Prices/Pinched-By-4-Gasoline-Blame-The-Big-Banks.html What is Really Driving Gas Prices up? And What Can be Done About it? http://oilprice.com/Energy/Gas-Prices/What-Is-Really-Driving-Gas-Prices-Up-And-What-Can-Be-Done-About-It.html This past week I had an article published in the Washington Post called Five Myths about Gas Prices. I will discuss each particular myth in detail below, but the five myths I addressed were: 1. Fighting in Libya is sending gas prices higher.2. Tapping the Strategic Petroleum Reserve is a smart way to reduce gas prices.3. Oil companies produce less in the spring to make gas prices increase.4. The Obama administration is driving up gas prices.5. Americans can’t live without cheap gas. Because such articles go through an editing process and…

]]> pir@oilprice.com (Robert Rapier) Thu, 31 Mar 2011 10:05:34 GMT http://oilprice.com/Energy/Gas-Prices/What-Is-Really-Driving-Gas-Prices-Up-And-What-Can-Be-Done-About-It.html Floating Crude and Shipping Rates Could Trigger $4 Gas http://oilprice.com/Energy/Gas-Prices/Floating-Crude-And-Shipping-Rates-Could-Trigger-4-Gas-.html Is $4 Gas in the Next few Months a Foregone Conclusion For years there has been a large supply of crude floating on big oil tankers. A significant portion of this is not under contract and does not have a specific delivery date. Typically these vessels head for Asia or the Americas. They do it at slow speed. They wait for contact from the owners that the crude has been sold and a delivery date has been set. When that happens the ship picks up speed and heads to the intended port. It is my understanding from talking to some shippers that this is…

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]]> krastingh@oilprice.com (Bruce Krasting) Wed, 23 Feb 2011 13:28:42 GMT http://oilprice.com/Energy/Gas-Prices/Floating-Crude-And-Shipping-Rates-Could-Trigger-4-Gas-.html Gas Prices Hit Record Levels for February http://oilprice.com/Energy/Gas-Prices/Gas-Prices-Hit-Record-Levels-For-February.html U.S. gasoline prices have jumped to the highest levels ever for the middle of February. The national average hit $3.127 per gallon on Friday, about 50 cents above a year ago. The price is about 6 percent higher than on this date in 2008. The next day, pump prices began a string of 32 gains over 34 days. They rose 39 percent over five months, eventually hitting an all-time high of $4.11 per gallon in July. Although gas prices are expected to rise, most experts aren't expecting a reprise of 2008, when the price spike forced many drivers to join car…

]]> bizinsi@oilprice.com (Business Insider) Tue, 15 Feb 2011 14:02:35 GMT http://oilprice.com/Energy/Gas-Prices/Gas-Prices-Hit-Record-Levels-For-February.html How much are gasoline prices weighing on consumers? http://oilprice.com/Energy/Gas-Prices/How-Much-Are-Gasoline-Prices-Weighing-On-Consumers.html On Friday Reuters reported: Rising gasoline prices beat down U.S. consumer sentiment in early January, overshadowing an improved job outlook and passage of temporary federal tax breaks, a survey released on Friday showed. A year-end surge in gasoline prices ratcheted up consumer inflation expectations to their highest in more than two years, according to the latest data from Thomson Reuters and the University of Michigan. The surveys' preliminary January reading on the overall consumer sentiment slipped to 72.7, below 74.5 in December. It fell…

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]]> flybiggles555@yahoo.com (James Hamilton) Wed, 19 Jan 2011 18:37:08 GMT http://oilprice.com/Energy/Gas-Prices/How-Much-Are-Gasoline-Prices-Weighing-On-Consumers.html Why Qatar is a Threat to Natural Gas Prices http://oilprice.com/Energy/Gas-Prices/Why-Qatar-Is-A-Threat-To-Natural-Gas-Prices.html The world is seeing an unprecedented build-out in liquified natural gas (LNG) capacity. Look at the chart below, from energy advisors Point Carbon. In 2009, worldwide LNG export capacity rose by 170,000 cubic meters per day (6 million cubic feet per day). In 2010, it's slated to jump another 115,000 cubic meters daily (4 million cubic feet per day). And yet global gas prices are generally falling. U.S. prices are mired below $5/mcf. And a "moveable feast" of LNG imports has also depressed European spot gas prices (although they're recently up a…

]]> dforest@oilprice.com (Dave Forest) Thu, 25 Nov 2010 17:32:57 GMT http://oilprice.com/Energy/Gas-Prices/Why-Qatar-Is-A-Threat-To-Natural-Gas-Prices.html Gas Producers Go to the Dark Side http://oilprice.com/Energy/Gas-Prices/Gas-Producers-Go-To-The-Dark-Side.html It's finally happening. Gas producers are starting to crack. With the natural gas to oil price ratio running at a nearly-unprecedented 21-to-1 ($86.80 per barrel for crude versus $4.12 per mcf for gas), gas producers are throwing in the towel. And switching over to the "dark side". Oil exploration. Up until now, many die-hard gas producers had been sticking to their guns and continuing to drill gas plays. Particularly shale gas, where producers claimed economics are still attractive. Even at current depressed gas prices. But times are changing.…

]]> dforest@oilprice.com (Dave Forest) Wed, 07 Apr 2010 0:00:00 GMT http://oilprice.com/Energy/Gas-Prices/Gas-Producers-Go-To-The-Dark-Side.html Shell's China Connection Grows Stronger with Another New Gas Venture http://oilprice.com/Energy/Gas-Prices/Shells-China-Connection-Grows-Stronger-With-Another-New-Gas-Venture.html Royal Dutch Shell further intensified its relationship with China in a new 30-year accord to appraise and develop tight gas reserves in the Sichuan basin. The new project in the 4,000-square-kilometer Jinqiu block is Shell’s third venture in unconventional gas development with the China National Petroleum Corp. in the past six months. The new deal marks once again China’s resolve to secure both domestic and foreign energy resources to supply its rapidly growing economy. Chinese oil and gas companies have announced deals in Argentina, Uganda…

]]> editor@oilprice.com (Darrell Delamaide) Thu, 25 Mar 2010 20:27:20 GMT http://oilprice.com/Energy/Gas-Prices/Shells-China-Connection-Grows-Stronger-With-Another-New-Gas-Venture.html Shell, PetroChina bid for Australian coal gas producer as Asia seeks energy resources http://oilprice.com/Energy/Gas-Prices/Shell-PetroChina-Bid-For-Australian-Coal-Gas-Producer-As-Asia-Seeks-Energy-Resources.html PetroChina joined with Royal Dutch Shell in a bid for Australian coal-seam gas producer Arrow Energy as Asian countries scramble for a stake in the vast energy resources at their doorstep in Australia. The initial bid of A$3.3 billion (US$3 billion) valued Arrow’s shares at $4.45, a 28% premium on last week’s close of $3.48. But investors quickly bid up the shares even higher in anticipation of a sweetened bid. Australia has vast reserves of coal-bed methane and has attracted some A$20 billion (US$18 billion) in foreign investment over the…

]]> editor@oilprice.com (Darrell Delamaide) Wed, 10 Mar 2010 8:08:09 GMT http://oilprice.com/Energy/Gas-Prices/Shell-PetroChina-Bid-For-Australian-Coal-Gas-Producer-As-Asia-Seeks-Energy-Resources.html Chevron to Seek Shale Gas in Poland as Europe Focuses on Unconventional Reserves http://oilprice.com/Energy/Gas-Prices/Chevron-To-Seek-Shale-Gas-In-Poland-As-Europe-Focuses-On-Unconventional-Reserves.html Chevron has acquired exploration rights for four shale gas concessions in southeastern Poland, the U.S. oil giant said in a recent SEC filing, joining other international companies in the hunt for unconventional gas reserves in Europe in the hopes of duplicating the production boom in the U.S. The need in Europe to reduce dependence on imported gas, especially from Russia, is spurring efforts to tap shale gas and coal-bed methane using new technologies that have proven successful in U.S. production. ExxonMobil, ConocoPhillips and Marathon Oil also…

]]> editor@oilprice.com (Darrell Delamaide) Tue, 09 Mar 2010 4:01:31 GMT http://oilprice.com/Energy/Gas-Prices/Chevron-To-Seek-Shale-Gas-In-Poland-As-Europe-Focuses-On-Unconventional-Reserves.html Gazprom Finally Accepts that Shale Gas Has Changed the World http://oilprice.com/Energy/Gas-Prices/Gazprom-Finally-Accepts-That-Shale-Gas-Has-Changed-The-World.html The Russian gas giant this week said it will allow up to 15% of its gas sales to Europe to be sold at spot gas prices on the continent. This is a big shift for Gazprom. Previously, the major insisted on selling gas to European users under long-term contracts. With gas prices linked to prevailing oil prices. It's long been usual practice in Europe to sell gas using an oil-linked price structure. Decades ago, when gas was just coming into widespread use, players in the industry decided that the fuel should be priced according to value of the other…

]]> dforest@oilprice.com (Dave Forest) Wed, 03 Mar 2010 23:46:06 GMT http://oilprice.com/Energy/Gas-Prices/Gazprom-Finally-Accepts-That-Shale-Gas-Has-Changed-The-World.html Exxon's Built in Escape Hatch From the Shale Gas Game http://oilprice.com/Energy/Gas-Prices/Exxons-Built-In-Escape-Hatch-From-The-Shale-Gas-Game.html ExxonMobil's buyout of XTO Energy was the story of December. It might be the story of 2009. But equally important are the details now emerging about the deal. Particularly the "escape hatch" that Exxon built in. Exxon is buying XTO to get into the shale gas game. Shale gas is one of the true revolutions we've seen across the commodities space over the last decade. And XTO has the expertise Exxon needs to quickly become a heavyweight in this arena. But not everyone is convinced shale gas is a boon. Particularly environmentalists, who fear that the…

]]> dforest@oilprice.com (Dave Forest) Wed, 30 Dec 2009 2:36:42 GMT http://oilprice.com/Energy/Gas-Prices/Exxons-Built-In-Escape-Hatch-From-The-Shale-Gas-Game.html EIA Data Points to a Bullish Gas Market http://oilprice.com/Energy/Gas-Prices/EIA-Data-Points-To-A-Bullish-Gas-Market.html Last week the Energy Information Administration released their ‘EIA-914’ report on natural gas production in the U.S. for the month of July. Production decreased 0.7 bcf/day from the previous month—a relatively bullish report. It was the fifth month in a row that production declined, reflecting the fact that the U.S. natural gas drilling rig count has fallen by over half from the highs last fall. Canadian rig counts are also down by over half from year ago levels. After over twenty-four months of volumes slowly moving upward the…

]]> dancyjo@oilprice.com (Joseph Dancy) Sat, 17 Oct 2009 20:19:34 GMT http://oilprice.com/Energy/Gas-Prices/EIA-Data-Points-To-A-Bullish-Gas-Market.html What Affects Gas Prices http://oilprice.com/Energy/Gas-Prices/What-Affects-Gas-Prices.html Gas prices have changed significantly over the past year as a number of factors have affected the price of crude oil which directly impacts the price at the pump. Many Americans complain of high gas prices, however it is important to understand that pricing differs all over the world and in both Canada and Europe gas is significantly more expensive than in the United States. Understanding what affects gas prices can sometimes be a complex matter as there are numerous factors that go-into determining the final price of gasoline. Crude Oil Production…

]]> admin@oilprice.com (Editorial Dept) Fri, 24 Jul 2009 12:48:57 GMT http://oilprice.com/Energy/Gas-Prices/What-Affects-Gas-Prices.html