Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
U.S. fuel prices near month ago levels, unlikely to change
by Renzo Pipoli
Washington (UPI) Jan 29, 2019

Average fuel prices in the United States were as of the start of the week $2.26 per gallon showing little change compared with the previous month or week, and likely to remain nearly flat.

"With gasoline stocks sitting at their highest level on record, 259.1 million barrels, coupled with colder-than-normal weather forecasted for much of the Midwest and East Coast, motorists are likely to see demand drop and gas prices decrease or hold steady this week," said AAA spokesperson Jeanette Casselano.

Gasoline prices as of Monday were on average just one cent higher than a week earlier, and only three cents lower than in the previous month, the driver's organization said. Prices are 33 cents below a year ago.

The Great Lakes and Central region saw some of the biggest weekly increases with drivers in Ohio, Michigan and Indiana paying on average between 10 and 8 cents more per gallon than a week earlier. However, all other states in this area saw prices decline or hold steady.

The AAA said that retailers may have increased prices ahead of winter storms as motorist wanted to stock up. However, gasoline stocks in that region at their highest level since 2016 prevented increases.

In the South and Southeast, Georgia led increases with a 7 cents per gallon average price rise, followed by Texas and Alabama, both 5 cents per gallon higher. However, other states like Florida and New Mexico saw small drops.

The AAA described gasoline stocks in the South and Southeast as "hefty" and helping to keep price increases moderate.

In the Rockies, "drivers continue to see some of the largest" gasoline price decreases in the country with Utah leading declines with a 5 cent per gallon average drop. Gasoline stocks in the region were flat from a week earlier, the AAA said.

As for the Mid-Atlantic and Northeast, North Carolina led price increases with a 5 cent per gallon rise. Most states, however, saw prices lower with Vermont, Connecticut, Massachusetts, New York, New Hampshire and Rhode Island seeing average drops between 2 and 3 cents per gallon.

The AAA described the region's gasoline stocks as "staggering" which minimizes fluctuations.

In the West Coast, where prices are the highest in the nation in part due to stricter pollution controls, "prices are falling with all state averages moving lower." Alaska, where fuel prices declined 5 cents per gallon, saw the biggest drop.

The West Coast gasoline stocks built by 900,000 barrels during the recent week but are still 2.2 million barrels lower than a year ago.

Fuel sold in service stations across most of the United States is a combination of either RBOB, Reformulate Gasoline Blendstock for Oxygenate Blending, or CBOB, Conventional Blendstock for Oxygenate Blending. Some states use RBOB and others CBOB. California mandates a special formula named CARBOB.

These blendstock products are all naphtha obtained from crude oil. The naphtha is in most cases later mixed with about 10 percent ethanol, which is an oxygenate added so that the ending emission is cleaner.

RBOB gasoline futures for February delivery were quoted Tuesday morning at $1.34 per gallon. This compares with $1.39 per gallon on January 15 for February delivery, according to CME Group data.

Ethanol, which is alcohol that in the United States is mostly derived from corn, was quoted early Tuesday at $1.26 for February delivery, lower than $1.29 per gallon for February delivery on January 15.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
EU's Iran payments vehicle ready - but stuck
Brussels (AFP) Jan 28, 2019
A payment mechanism the EU hopes will save the Iran nuclear deal by bypassing US sanctions is ready, diplomats said Monday, but is held up by disagreements among European countries. The "Special Purpose Vehicle" is being put together by Germany, France and Britain, the European signatories to the 2015 accord that curbed Tehran's nuclear ambitions in return for sanctions reilef. The entity, to be based in France with German governance and finance from all three countries, will allow Iran to recei ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
A powerful catalyst for electrolysis of water that could help harness renewable energy

From toilet to brickyard: Recycling biosolids to make sustainable bricks

Scientists turn carbon emissions into usable energy

Researchers create 'shortcut' to terpene biosynthesis in E. coli

OIL AND GAS
Self-assembling nanomaterial enable cheaper more efficient solar power

New water splitting catalyst could make it easier to generate solar fuel

US underwent a quiet clean energy revolution last year

Mesoporous nickel could help to expand capacity of hydrogen engines and solar cells

OIL AND GAS
Major companies, cities buying into Texas' green energy boom

EON achieves successful commercial operation and tax equity financing for Stella wind farm

Lidar lights up wind opportunities for Tilt in Australia

US Wind Inc. agrees to sell its New Jersey offshore lease to EDF Renewables North America

OIL AND GAS
Framatome companies and Joint Ventures in China are renamed

Hitachi wants nationalisation of UK nuclear project: report

Britain's AECOM, AWE announce nuclear waste storage partnership

Framatome receives $49 million grant to accelerate enhanced accident tolerant fuel development

OIL AND GAS
'We are losing the race' on climate change: UN chief

2018 was fourth hottest year on record: researchers

Ancient climate change triggered warming that lasted thousands of years

UN chief warns 'we are losing the race' on climate change

OIL AND GAS
Apple puts brakes on car team but keeps eye on road

Boeing flying car prototype completes first test flight

Ford reports 4Q loss on weakness in China, Europe

Tesla recalls 14,000 cars in China over Takata airbags

OIL AND GAS
Iraq parliament approves 2019 budget, one of largest ever

In Iraq, political wrangling spawns debate over US troops

Iraqi PM makes first visit to protest-hit Basra

Iran FM says Tehran wants to rebuild Iraq after IS fight

OIL AND GAS
Harris receives $72M contract for Air Force space and missile systems

Iran plans to carry out new satellite launch soon

Russia wheels out key missile in bid to save US arms treaty

German FM says up to Russia to save missile treaty









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.