• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 11 mins Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 3 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 1 day IMO 2020 could create fierce competition for scarce water resources
  • 3 hours Total nonsense in climate debate
  • 1 day IMO2020 To scrub or not to scrub
  • 3 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 15 hours Theresa May to Step Down
  • 1 day Devastating Sanctions: Iran and Venezuela hurting
  • 6 hours Will Canada drop Liberals, vote in Conservatives?
  • 3 hours Apple Boycott in China
  • 1 day Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 7 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 7 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
Alt Text

Asian LNG Prices Hit Three-Year Lows

Spot prices for LNG in…

Alt Text

Are Natural Gas Prices Set To Spike?

Natural gas inventories have plunged…

Alt Text

The World’s Cheapest Natural Gas

Associated gas production in the…

Daniel J. Graeber

Daniel J. Graeber

Daniel Graeber is a writer and political analyst based in Michigan. His work on matters related to the geopolitical aspects of the global energy sector,…

More Info

Trending Discussions

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 24th straight day of increases.

Michael Green, a spokesman for AAA, told Oilprice the extreme winter season is keeping many drivers off the road and thereby suppressing demand.

Related Article: This Week's 3 Most Important Numbers in Energy

"Many people drive less when the weather is cold and the roads are dangerous, which means not as much gasoline is needed to meet market demand," he said. "The winter weather has helped to delay significant price spikes and helped to alleviate problems resulting from refinery maintenance and decreased production."

Last week, the U.S. Energy Information Administration said the brutal cold this year impacted refinery and pipeline operations in the country.  Refineries in the U.S. Midwest closed down briefly in January when the so-called polar vortex brought sub-zero temperatures to the region and the National Oceanic and Atmospheric Administration reports temperatures in the eastern half of the United States should stay at least 30 percent below normal for most of the first week of March.  Despite winter's slow fade, Green said there have been no recent problems at refineries in the Great Lakes region, where gasoline prices tend to be more vulnerable to downstream issues than the rest of the country.

On the geopolitical front, Russian President Vladimir Putin said he was protecting his national interests by sending troops toward Crimea, something NATO Secretary-General Anders Fogh Rasmussen said violated the charter of the United Nations. Green said crude oil prices were "jumping" Monday in response to the crisis because of Russia's influential energy presence.

Related Article: Four Countries that Could Send Oil Prices Up

AAA said gasoline prices in the United States ended February with the largest on average increase since July. The lingering cold weather, along with regular maintenance at the nation's refineries, means it may be April before prices start to come back down for U.S. consumers. For Green, the situation overseas could make what's normally one of the costliest seasons for gasoline prices even worse for U.S. consumers. Gasoline futures have increased "significantly," he said, because of the potential that oil prices will increase further in response to the Ukrainian crisis.

"Those higher prices will reach consumers at the pumps soon if the situation remains unchanged," he said. "There is a good chance that average gas prices will rise above $3.50 per gallon this week."

By. Daniel Graeber of Oilprice.com




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • William Marshall on March 11 2014 said:
    Prices in the great lakes are vulnerable because of the retailers, specifically Speedway, playing their price cycling games. Every week, 20 - 50 cent spikes.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News