• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 5 hours Governments that wasted massive windfalls
  • 19 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 2 hours Let’s take a Historical walk around the Rig
  • 16 hours Trump has changed into a World Leader
  • 5 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 4 hours Here is Why People Lose Money Trading Natural Gas
  • 1 day Beijing Must Face Reality That Taiwan is Independent
  • 2 days Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 hours US Shale: Technology
  • 7 hours 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 13 hours Trump capitulated
  • 2 days Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)

Breaking News:

Brazil Decides Against Joining OPEC

U.S. Gasoline Prices Surprisingly Rise In Late-Summer Week

Gasoline

In one of the rare recent increases for a late-summer week, U.S. retail gasoline prices unexpectedly rose in the week to August 22, by US$0.044 to US$ 2.193 per gallon, according to data by the U.S. Energy Information Administration (EIA).

Gasoline prices have dropped during this particular week in eight of the past ten years, and last week saw the biggest increase for this week since a US$0.062 rise in 2005.

In the previous two August weeks, U.S. average gasoline prices had stood at US$2.150 in the week to August 8 and at US$2.149 in the week to August 15.

In the week to August 22, gasoline prices rose in all regions, with the East Coast increasing by US$.051, and New England up by US$ 0.062.

U.S. on-highway diesel fuel prices also increased in all regions last week, with the average national price rising to US$2.370, up by US$ 0.060 from the week of August 15.

In its Short-Term Energy Outlook, the EIA said earlier this month that U.S. regular gasoline retail prices this summer, between April and September, were expected to average US$2.19/gallon, US$0.06/gal lower than what it had forecast in the previous outlook, and US$0.44/gal lower than last summer. For full-2016, U.S. gasoline prices are projected to average US$2.06/gal and to rise to an average US$2.26/gal in 2017.

Related: Boom, Balance Or Bust: What's Next For Oil?

In the same energy outlook, the EIA also forecast that motor gasoline consumption would increase by 150,000 b/d, or 1.7 percent, to 9.31 million b/d in 2016, which would be the highest annual average gasoline consumption on record, beating the previous all-time high from 2007.

Last week EIA said in its weekly update on inventories that gasoline stockpiles were down in the week to August 12 by as much as 2.7 million barrels but, like crude, too high for the season.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage


Leave a comment
  • Larry Evans on August 23 2016 said:
    How can a website called oilprice.com miss the fact that a major refinery was shut down in LA due to flooding?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play