Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
US fuel prices see biggest Jan-Feb rise in 4 years
by Staff Writers
Washington DC (UPI) Mar 07, 2019

illustration only

Average gasoline prices at service stations across the United States saw the biggest rise since 2015 for a January-February period, with an additional three cents per gallon added in just the last week, the AAA said.

Currently at $2.42 per gallon, gasoline prices are three cents higher than last week, but as much as 17 cents more than a month ago, according to the AAA drivers' organization.

Oil prices saw gains in the first two months of the year, reaching their highest level in late February. Both gasoline and crude prices are lower than a year ago.

In addition to trailing crude oil gains, part of the price increase is seasonal, as refineries make changes to produce a more expensive gasoline mix that is sold in the warmer weather.

"Motorists can expect gas prices to continue to increase as refineries gear up for spring gasoline production and maintenance season," said Jeanette Casselano, AAA spokesperson.

Florida saw the biggest weekly price change as prices increased 13 cents per gallon, followed by 11 cents per gallon in Alabama, with Mississippi and Louisiana both seeing an 8-cents-per-gallon increase.

"Florida, at $2.47 per gallon, has seen a huge jump and carries the most expensive average in the South and Southeast," the AAA said.

The South and Southeast have seen a large draw in gasoline inventories including a "staggering 2.1 million barrel" draw.

In contrast, the Rockies saw relatively little change in prices this week, with Colorado seeing a 5-cent-per-gallon rise.

Drivers in the Mid-Atlantic and Northeast saw moderate price increases on the week. Gasoline prices saw an average as high as $2.64 per gallon in Pennsylvania and as low as $2.20 per gallon in Virginia.

Gasoline inventories "built by a healthy 1 million barrels to 68.6 million barrels," but refinery utilization continues to trend down -- it was at 60 percent on Monday, down from near 88 percent at the start of the year, due to maintenance.

In the Great Lakes and Central region, gasoline prices increased in most states anywhere from 1 to 10 cents. However, Indiana average prices saw a 10-cents-per-gallon decline. Inventories indicated a weekly draw of 911,000 barrels.

In the Rockies, there was "moderate" fluctuation. Colorado saw a 5-cents-per-gallon increase. Prices were flat in other areas like Wyoming, Utah and Idaho.

In the West Coast region, which also includes Hawaii, California and Hawaii had the highest prices of all states at $3.29 per gallon.

The state with the lowest fuel prices in this region was Arizona, at $2.42 per gallon. Gasoline inventories only fell slightly on the week, the AAA said.

California and some neighboring states have stricter emission control policies compared with other parts of the United States.

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 April delivery were quoted Tuesday morning at $1.76 per gallon. This compares with $1.57 per gallon on Feb. 26, and $1.34 per gallon on Feb.5, both for March delivery, according to CME Group data.

Ethanol, which is alcohol that in the United States is mostly derived from corn, was quoted Tuesday at $1.34 for March delivery, up from $1.31 per gallon on Feb. 26, and from $1.33 per gallon on Feb. 5.

Looking ahead, Patrick DeHaan, analyst at GasBuddy which estimated gasoline prices at $2.43 per gallon on average as of March 4 while average prices of diesel were $3 per gallon, said prices will increase.

"We may see another 20 cent hike or so over the next two months, or perhaps greater if there are any refinery kinks that arise. We'll still be in good shape for summer gas prices to be under their year-ago levels, so all is not lost," he said.


Related Links
Oil and Gas News
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
New Zealand joins Solomons oil spill response
Wellington (AFP) March 1, 2019
New Zealand joined an international effort Friday to limit damage from oil spilling out of a ship that ran aground near World Heritage-listed waters in the Solomon Islands almost a month ago. The MV Solomon Trader became stranded on a coral reef on February 5 while loading bauxite at remote Rennell Island, about 240 kilometres (150 miles) south of the capital Honiara. Efforts to salvage the 225-metre bulk carrier have so far failed and experts estimate about 75 tonnes of heavy fuel oil has leake ... 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
Turning algae into fuel

Capturing bacteria that eat and breathe electricity

Climate rewind: Scientists turn carbon dioxide back into coal

How power-to-gas technology can be green and profitable

OIL AND GAS
Layering titanium oxide's different mineral forms for better solar cells

Dynamic Energy brings solar power to Galloway factory

Solar Payback Trends 2019

Trina Solar selected for first project with low carbon bifacial dual-glass modules in France

OIL AND GAS
Ingeteam commissioned over 4GW of wind converters in 2018

Sulzer Schmid's new technology platform slashes cost of drone-based rotor blade inspections

Major companies, cities buying into Texas' green energy boom

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

OIL AND GAS
Framatome delivered ATRIUM 11 reload fuel assemblies to Olkiluoto 1

IEA: Nuclear energy set for risky, significant decline

Framatome modifies Loviisa nuclear power plant's control rod systems

EU clears RWE takeover of EON electricity generation assets

OIL AND GAS
Plants' drought alert system has unlikely evolutionary origin: underwater algae

Targeting climate change, Washington governor joins Democratic race

Where's winter? Western Europe basks in record temperatures

Earth may be 140 years away from reaching carbon levels not seen in 56 million years

OIL AND GAS
How hacked self-driving cars would affect New York City traffic

Lyft races ahead of Uber to Wall Street listing

Volvo unveils driverless electric bus in Singapore

Tesla's Chinese rival NIO scraps factory plan after losses

OIL AND GAS
Once-bustling Baghdad boulevard dallies in disrepair

Iraq doctors say vendettas threaten their lives as they save others

Iraq saves France thorny repatriations of IS jihadists

Bodies found after 12 people abducted in Iraq

OIL AND GAS
Putin suspends INF arms treaty with US

NATO chief says bloc preparing for more Russian missiles

White House security chief calls Trump-Kim summit 'success'

N. Korea, US vow to keep talking after Hanoi summit collapse









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.