Gas prices higher on average because of regional issues by Daniel J. Graeber Washington (UPI) Jan 10, 2017
Refinery issues for western U.S. states and higher crude oil prices pushed the national average price for gas to its highest point since June, retail data show. Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.37, an increase of about 2 cents from last week and 16 cents, or 7 percent, higher than one month ago. The West Coast continues its streak as the most expensive market in the United States and, according to motor club AAA, a series of refinery issues over the past week have added to the pressure for consumers. Phillips 66 has continued or ongoing issues with its facilities and Chevron's operations are planning maintenance, which may be limiting gasoline supplies for the region. California has the highest state average price in the nation, after Hawaii, with $2.81 reported for Tuesday. That's a 5 percent increase from the previous month and highlights the state's center as a regional refiner. The Great Lakes region continues as the most volatile market in the country and 2017 started with new fuel taxes in several states, making the area now one of the more expensive as well. Indiana was among the states in the area that posted the largest weekly decline in gas prices, with the state average price of $2.31 a 3 percent decline from the previous week. Ohio, meanwhile, saw its state average increase nearly 2 percent from last week to $2.36 For the region, federal data show gasoline supplies are abundant and all refineries are running as expected, suggesting the retail market may be behind the curve with its posted prices. South Carolina has the lowest state average in the country at $2.14 per gallon. The national average on this date last year was $1.97 per gallon. The price as the pump loosely mirrors movements for crude oil prices, which have been on a steady rise since a November agreement by members of the Organization of Petroleum Exporting Countries to limit production. Retail gasoline prices, according to AAA, have increased 41 of the past 43 days in response to oil markets. The rise in crude oil prices, however, has brought some operators back to the more expensive shale basins in the United States and markets turned sharply lower Monday following a report from oilfield services company Baker Hughes showing an increase in exploration and production activity in North America.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
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. |