Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Demand pulling U.S. gasoline prices higher
by Daniel J. Graeber
Washington (UPI) Apr 26, 2016


disclaimer: image is for illustration purposes only

Consumer demand for gasoline is pushing the price at the pump higher for Americans, though it remains low historically speaking, retail analysis finds.

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.14, about 1.4 percent higher than last week and more than 5 percent than this time in March. At this time last year, the national average was $2.53 per gallon.

Retail prices typically elevate during the spring as refiners switch from a winter to a summer blend of gasoline, which is more expensive to make. Drivers, meanwhile, look to break cabin fever by hitting the roads and both factors influence the balance between supply and demand.

In a separate statement emailed to UPI, Will Speer, an analyst with retail price watchdog group GasBuddy, said gasoline demand is higher than in previous years.

"Leading the demand surge has been gasoline, where the Energy Information Administration shows year-to-date demand to be up 3.4 percent from last year and up 7.4 percent from 2014," he said.

AAA forecasts that refiners, however, are working to keep pace with demand, though that could present maintenance issues because of the strain on equipment and overall operations. A string of refinery issues in Midwest states last year pushed regional gas prices above the $3 mark, well above the national average at the time.

Nevertheless, AAA said that, by summer, U.S. drivers should see the lowest prices at the pump in more than a decade. The "mystery," it added, was where prices are headed for crude oil, which accounts for a large percentage of the price at the pump. With U.S. oil production in decline, and overseas producers considering holding their levels steady, oil prices are rallying strongly from lows below $30 per barrel earlier this year. If prices recover too strongly, AAA notes, U.S. oil production could start to recover.

"As a result of this dynamic, the global oil market is expected to remain well supplied, keeping the price at the pump relatively low compared to previous years," it said in its weekly retail market report.


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


.


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






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

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

Previous Report
OIL AND GAS
Some BG Group offices to close
London (UPI) Apr 25, 2016
Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. British energy company BG Group became a unit within the corporate structure of Royal Dutch Shell in early February. The $7 billion tie-up was the largest of its kind since Exxon and Mobil joined forces in the 1990s. Royal Du ... read more


OIL AND GAS
Global leaders agree to set price on carbon pollution

German power supplier RWE warns of 'horror scenario' for sector

Economic development does mean a greater carbon footprint

Study shows best way to reduce energy consumption

OIL AND GAS
China produces key component for nuclear fusion facility

Cleaning up hybrid battery electrodes improves capacity and lifespan

New method enlists electricity for easier, cheaper, greener chemistry

Tesla and other tech giants scramble for lithium as prices double

OIL AND GAS
Making biodiesel with used cooking oil and a microwave

Major advance in synthetic biochemistry holds promise for biofuels

Recyclable, sugar-derived foam as renewable alternative to polyurethanes

Enzyme leads scientists further down path to pumping oil from plants

OIL AND GAS
France's EDF to decide on UK nuclear project in September

EDF shares dive 11 percent on news of capital injection

Advances in extracting uranium from seawater announced in special issue

Africa turning to nuclear to meet growing energy needs

OIL AND GAS
Canada must step up efforts to cut CO2 emissions: watchdog

Climate change: Is the 1.5C target a mirage?

From Paris to New York, climate pact to cross next hurdle

India says 330 million people suffering from drought

OIL AND GAS
Lithium War Heats Up After Epic Launch Of Tesla Model 3

More carmakers caught in VW engine-rigging scandal

Exploding hoverboards on EU list of 'made in China' horrors

China's Tesla BYD has electric dreams

OIL AND GAS
IS suicide attack kills eight at Iraq Shiite mosque

Russia delivers ground support aircraft to Iraq

Iraq speaker suspends parliament 'until further notice'

US to deploy more forces to back Iraq's anti-IS war

OIL AND GAS








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.