• 4 minutes Will Libya Ever Recover?
  • 9 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 13 minutes What Can Bring Oil Down to $20?
  • 16 minutes Venezuela continues to sink in misery
  • 1 day Alberta govt to construct another WCS processing refinery
  • 12 hours Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 16 hours Instead Of A Withdrawal, An Initiative: Iran Hopes To Agree With Russia And Turkey on Syrian Constitution Forum
  • 17 hours Water. The new oil?
  • 1 hour Anti-pipeline activism isn't generating more investment in renewable energy
  • 45 mins Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 11 mins "Brothers" in Arms: Kremlin Presses On With Turkey Missile Contract
  • 13 hours Storage will in time change the landscape for electricity
  • 1 day Let's Just Block the Sun, Shall We?
  • 16 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 2 days U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
North Korean Oil Smugglers Elude U.S. Military

North Korean Oil Smugglers Elude U.S. Military

North Korea continues to skirt…

Libya’s NOC Won’t Pay ‘Ransom’ For Biggest Oil Field

Libya’s NOC Won’t Pay ‘Ransom’ For Biggest Oil Field

Libya’s National Oil Corporation said…

Gasoline and Oil Prices Down from this Time last Year

According to Gasbuddy.com (see graph at bottom), gasoline prices are down slightly over the last few days to a national average of $3.66 per gallon. One year ago for the week of Memorial Day, prices were at $3.67 per gallon, and for the same week two years ago prices were $3.85 per gallon.

According to Bloomberg, WTI oil is at $94.15 per barrel, and Brent is at $102.64 per barrel.  Last year on Memorial Day, Brent was at $107.86 per barrel, and two years ago Brent was at $114.85.

Using the calculator from Professor Hamilton, and the current price of Brent crude oil, the national average should be around $3.40 per gallon. That is about 26 cents below the current level according to Gasbuddy.com, however I think there is a seasonal factor that isn't included in the calculator.

Click here to read the full article.



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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