Forums: Gasoline

So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics. (AP Photo) During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent. When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon,...

Paying $4 per gallon at the gas station is painful, and analyst Patrick DeHaan has some bad news: Get used to it. "People have this expectation that they will be paying $1 or $2 per gallon again," said Mr. DeHaan, a senior petroleum analyst at GasBuddy.com, a fuel-price tracking website based in Minnesota. "And that's unrealistic." Mr. DeHaan's outlook for 2012 gas prices is enough to send anyone to the nearest bus stop (or even shoe store). A combination of international tensions and state regulations have analysts expecting Pennsylvania gas prices to peak this year at $4.15 per gallon by...

For the first time in six decades, the U.S. is exporting more gasoline and diesel fuel than it imports. That, if you believe the critics, shows that the Keystone XL pipeline, which would ship crude oil from Canada to Gulf Coast refiners, is an export scam. In other words, the oil that Keystone would bring in will simply be refined and shipped out again, so the whole project is nothing more than a ploy in which U.S. refiners boost profits by tapping lucrative foreign markets. Gasoline exports, though, have little to do with the Keystone pipeline and America’s long-term energy...

Gasoline prices could approach $5 a gallon by Memorial Day and stay a record levels for much of the summer, according to a forecast by GasBuddy.com. Gas prices always spike in the summer, but the 2012 Gasbuddy.com Price Outlook predicts this summer will break records. "It looks like it might be the most painful year at the pump that we have ever seen," senior analyst Patrick DeHaan said. By Memorial Day, gasoline in the Chicago area could rise to between $4.60 and $4.95 a gallon–more than a dollar above the current average. DeHaan says there are several factors that will...

<p>Maybe you'll want to start salting away money for 2012 fuel costs now. Get ready to see $4-a-gallon gasoline in various parts of the U.S. sometime this spring, according to one prediction. Another prediction says that some of the nation's biggest cities -- such as Chicago, Los Angeles and New York -- will see record Memorial Day averages of $4.55 to $4.95 for a gallon of regular gasoline.</p>

Snips from Excerpt Only Website: Senators from both sides of the aisle are warning that looming EPA regulations on gasoline could impose billions of dollars in additional costs on the industry and end up adding up to 25 cents to every gallon of gas.  Citing the nearly $3.40-a-gallon average price of gas and the state of the economy, the senators said "now is not the time for new regulations that will raise the price of fuel even further." 

Gas prices are continuing to move upward with a gallon of regular at $3.38, up 8 cents from a week ago, the Energy Department’s U.S. Energy Information Administration said today. The weekly national average increased almost 30 cents from a year ago, and rose for the third consecutive week, adding to predictions that 2012 might be an uncomfortably expensive year for drivers across the country. Last year was a record year for gas prices but 2012 is forecasted to surpass its annual average. The real annual average for a gallon of regular gas last year hit $3.56, up from $2.90...

Northeastern states are slated to lose half of their regional capacity for fuel production by midyear as financial woes push refineries there to idle, a trend likely to increase the region’s dependency on Gulf Coast supply. A Houston-to-New York pipeline is making major expansions to accommodate growing demand to transport gasoline and other fuels up north from the Gulf Coast to fill the potential supply void. The Gulf already supplies about half of the Northeast’s demand for petroleum products, said Mindi Farber-Deanda, head of the liquid fuels market team for the U.S. Energy Information Administration. But the shutdown of production...