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Gasoline Prices

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Goldman Sachs warns US diesel export ban would spike gasoline prices
energy12 days ago

Goldman Sachs warns US diesel export ban would spike gasoline prices

Goldman Sachs analysts warn that a potential 90-day US ban on diesel exports would initially lower diesel prices by $0.25 per gallon weekly but would eventually drive gasoline prices up by $0.30 per gallon weekly as storage fills. The bank notes that diesel, gasoline, and jet fuel are produced together, meaning a ban would disrupt refinery runs. While President Trump is seriously considering the move to lower record-high domestic diesel costs ahead of November midterms, industry groups and European officials argue it would worsen global supply shortages and raise prices abroad.

via Crude Oil Prices Today | OilPrice.com|
#diesel-export-ban#energy#gasoline-prices
UK Inflation Surges to 3.1% on Fuel and Energy Costs
economy24 days ago

UK Inflation Surges to 3.1% on Fuel and Energy Costs

UK annual inflation rose to 3.1% in August, led by a sharp jump in motor fuels as energy bills climbed and oil stayed above $100 a barrel; analysts say the move looks energy-shock driven rather than broad inflation, keeping the Bank of England in a holding pattern for now while gilt yields fall and the pound stays flat ahead of the central bank’s policy decision.

via cnbc.com|
#bank-of-england#diesel-prices#economy
August CPI Jump Keeps Fed on Track for 25bp Hike
economy29 days ago

August CPI Jump Keeps Fed on Track for 25bp Hike

August CPI rose 0.4% for the month (3.4% year over year) while core CPI gained 0.3% (2.4% YoY); energy costs, especially gasoline, helped drive the increase, with shelter also up 0.3%. The data solidify expectations of a quarter-point Fed rate hike at the upcoming meeting, with markets pricing roughly 90% odds of a move as energy prices and inflation trends influence policy.

via cnbc.com|
#cpi#economy#energy-prices
Trump accuses oil giants of gouging drivers, urges DOJ probe into pump prices
politics3 months ago

Trump accuses oil giants of gouging drivers, urges DOJ probe into pump prices

Former President Donald Trump accused ExxonMobil, Chevron, Shell and BP of price gouging drivers, claiming wholesale oil costs have fallen and pump prices should be about $2.25 per gallon; he asked the DOJ to immediately investigate, while the oil industry group API disputed the characterization and officials noted that geopolitical events and supply dynamics influence gasoline prices.

via Yahoo Finance|
#doj-investigation#gasoline-prices#oil-companies
Moscow Braces for Fuel Shortages as Ukrainian Drone Attacks Hit Russian Refineries
war-in-ukraine3 months ago

Moscow Braces for Fuel Shortages as Ukrainian Drone Attacks Hit Russian Refineries

Ukrainian drone strikes on Russia’s oil infrastructure have forced refinery shutdowns, notably Gazprom Neft’s Moscow plant, removing about 600,000 barrels per day from domestic refining and risking a 28% seasonal capacity drop. Moscow is enforcing fuel rationing, prices are rising, and Russia is importing gasoline from Asia while considering regulatory changes and an end-of-July export ban to redirect inventories and bolster state needs.

via UNITED24 Media|
#gasoline-prices#gazprom-neft-moscow-refinery#moscow-fuel-shortage
Hormuz bottleneck could trigger fresh oil-price spikes this summer
energy-and-climate4 months ago

Hormuz bottleneck could trigger fresh oil-price spikes this summer

Oil prices face renewed upside risk as the Strait of Hormuz disruption and thinning inventories erode buffers; analysts warn that if the strait stays closed by Labor Day, Brent could jump to about 130–150 per barrel, with gasoline prices likely to rise as U.S. and global stockpiles approach critical minimums, despite SPR releases and other buffers.

via Axios|
#energy-and-climate#gasoline-prices#inventories
Trump weighs federal gas tax holiday as U.S. pump prices approach $5
politics5 months ago

Trump weighs federal gas tax holiday as U.S. pump prices approach $5

With U.S. gas prices climbing toward $5 a gallon, Trump has floated suspending the 18-cent federal gas tax—a move that would require Congress. NBC News’s analysis shows that even a complete pause on all state and federal taxes would leave prices about 35% higher than they were at the war’s start. The average driver pays roughly 51 cents per gallon in taxes and fees, of which 18 cents go to the federal government; Georgia has already paused its own tax, and a broader pause would affect highway and transit funding via the Highway Trust Fund.

via NBC News|
#energy-policy#federal-tax#gas-tax
Gas price volatility: why pumps jump fast and drift slow in oil shocks
business5 months ago

Gas price volatility: why pumps jump fast and drift slow in oil shocks

Economists describe the ‘rocket-and-feathers’ phenomenon: retail gasoline prices spike quickly when crude oil rises but fall slowly as crude retreats, driven by forward-looking replacement costs, slim retailer margins, and competitive dynamics at the pump. Consumer search behavior intensifies price increases but wanes as prices drop, while regional market structures—especially California—can magnify the effect. Media coverage and supply-chain constraints also play roles, and even if tensions with Iran ease, pump relief is unlikely to come promptly.

via Los Angeles Times|
#business#consumer-search#crude-oil
US Gas Prices Jump Toward 2022 Peak as Hormuz Turmoil Bites
energy5 months ago

US Gas Prices Jump Toward 2022 Peak as Hormuz Turmoil Bites

U.S. average gasoline prices topped $4.50 a gallon (per GasBuddy), the highest since mid-2022, with California well over $6 in many spots, as ongoing Strait of Hormuz disruptions and the Iran conflict push crude higher and tighten fuel inventories; analysts warn the summer driving season could bring further gains, with overall prices about $0.50 below the 2022 all-time high.

via Crude Oil Prices Today | OilPrice.com|
#energy#gasbuddy#gasoline-prices
California Braces for Supply Gap as Gulf Crude Reaches Long Beach
energy5 months ago

California Braces for Supply Gap as Gulf Crude Reaches Long Beach

California’s last Persian Gulf crude cargo has landed in Long Beach, highlighting the state’s growing reliance on foreign oil as it faces the potential loss of about 200,000 barrels per day if the Strait of Hormuz remains blocked; with aging fields and constrained refinery capacity, California may need to source crude from Canada, Brazil, Ecuador and other regions, while inventories and state planning cushion near-term risk and analysts warn prices could rise without stronger demand-side relief.

via Los Angeles Times|
#california#energy#gasoline-prices