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Gas Prices Continue Dropping
U.S. motorists are paying an average price at the gasoline pump today of $2.10 per gallon) that is more than 40% lower than the 2014 peak of $3.70 reached on April 28. Continue reading
DOT and EPA Issue Record 54.5 MPG Fuel Economy Standards
Realistically, the fuel economy average will likely be in the 38-40 mpg range. Therefore, your mileage not only can vary but will vary from big numbers being touted in a closely contested Presidential election year. This, by the way, is where European fuel economy is right now, so if you want to know what the roads will look like a decade hence, travel to Spain or Italy whose governments desperately need tourist revenues to cover their massive deficits. Continue reading
President Obama Unveils 54.5 MPG Fuel Economy Regulation for 2017-25. Will it Alter Vehicle Choices and Increase Costs?
In a thirteen minute speech in Washington this morning, President Obama revealed his proposal for doubling the fuel economy of vehicles sold in the U.S. by 2025. This proposal, which will apply to cars and light trucks sold during model years 2017 to 2025, establishes a global warming pollution standard of 163 grams of CO2 per mile per new vehicle by 2025—the equivalent of 54.5 mpg if all the improvements are met through actual increases in fuel-efficiency. Continue reading
OPEC to Keep Oil Production Even. Prices Likely to Stay High as U.S. Economic Recovery Stalls and Unemployment Grows
OPEC’s decision to keep oil production levels constant is the latest setback for the stumbling U.S. economy. Since there has been no change in the way oil is produced or traded – as a fungible commodity – there is no reason speculators cannot keep oil prices moving up toward the record $147 a barrel that it hit in July of 2008. In fact, some analysts warn oil prices won’t stop there this time. Continue reading
Gasoline Prices Rising. Another Roller Coaster Ride Underway?
At the end of December 2010 gasoline prices in the United States rose above $3 a gallon for the first time since October of 2008. The difference this time around is that in 2008 the pricing trend was downward, having … Continue reading
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Gasoline Demand Dropping, Pump Prices Flat
“Tis the season for lower gas prices as demand drops and gas stations make the switch to winter-blend gasoline which is cheaper to produce. Crude oil supply remains robust as OPEC+ – a group of oil-producing countries – is likely to announce in the coming days another production increase in November. That surplus coupled with weaker demand is keeping pump prices down, even as some U.S. refineries are expected to go offline this month for seasonal maintenance,” said AAA. Continue reading →