America's LargestPosts Tagged gasoline
Gasoline Stockpile Data Lifts Oil Prices
At 9:06 am EDT, the price of crude had risen by 0.6 percent to $68.49 a barrel and the price of heating oil had gained 0.2 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.01
Morning projection (for Friday’s price per gallon): DOWN $0.01
Yesterday’s US petroleum inventory data released by the Energy [...]
Oil Prices Drop on Surprise Increases in Product Stockpiles
The price of crude lost 0.7 percent to close at $69.31 a barrel and the price of heating oil fell by 1 percent.
HEAT USA Price Report
Evening projection (for Thursday’s average retail price per gallon): DOWN $0.01
Crude and heating oil prices closed slightly lower today after government data showed large increases in stockpiles of US petroleum [...]
Fuel of the Future: Bio-Butanol from Wood as Renewable Gasoline
We have known for centuries how valuable trees are: they help us breathe, provide us with wood for shelter and can even be turned into a variety of products, like paper. But now, some investors are developing ways to turn trees into bio-butanol to help wean America off its usage of petroleum.
According to a Reuters [...]
Oil Prices Drop on Gasoline Inventory Build
At 9:25 am EDT, the price of crude had fallen by 0.5 percent to $68.87 a barrel and the price of heating oil had given up 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.04
Morning projection (for Thursday’s average retail price per gallon): DOWN $0.03
Data on US inventories of [...]
Gasoline Sell-Off Pulls Down Oil Prices
The price for a barrel of crude fell 2.3 percent to close at $69.71 and the price of heating oil dropped by 2.4 percent.
HEAT USA Price Report
Evening projection (for Monday’s average retail heating oil price per gallon): DOWN $0.04
Gasoline futures prices fell by almost seven percent today, as traders unloaded gas contracts following a major [...]
Oil Prices Dip on Build in Gasoline Supplies
At 10:36 am EDT, the price of crude had lost 1.8 percent to fall to $69.17 a barrel and the price of heating oil had dropped by 1 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: UP $0.01
Morning projection (for Thursday’s average price per gallon): DOWN $0.02
The EIA released weekly US inventory [...]
Read More »Rising Oil Prices Pose Threat of Inflation, Slowed Economic Recovery
At what point does the price of crude oil really begin to impact the average American and the US economy as a whole? Experts differ on the exact number, but whoever you ask will probably agree that we’re rapidly approaching that point again, if we’re not there already.
As reported here on The HEAT Zone, crude [...]
Senator Proposes National Reserves of Refined Petroleum Products
Writing for Reuters last week, Tom Dogget reported that Senator Jeff Bingaman (D-New Mexico), chairman of the Senate Energy and Natural Resources Committee, wants the federal government to create emergency stockpiles of specific petroleum products, such as gasoline and diesel fuel, to help offset supply disruptions such as those experienced when recent hurricanes [...]
Read More »Investors Focus on Bullish News, Oil Prices Close Higher
First the bad news: the swine flu continues to spread (claiming its first US fatality today), the US economy contracted by a whopping 6.1 percent in the first quarter of 2009, and crude inventories increased by 4.1 million barrels last week which indicates overall US oil demand is still in the dumps. On the positive [...]
Read More »Low Oil Demand and Prices Hurt Investment in Green Tech
The ongoing recession has claimed yet another victim: Investments in green energy technology. It may seem slightly paradoxical, but the sluggish demand for crude oil we’ve seen in the first quarter of 2009 translates to financial struggles for biofuel and other clean tech companies, according to an article on earth2tech.com.
The American Petroleum Institute reported on [...]
US Refineries Shut Down for Spring Cleaning, but Prices Should Stay Steady
Every spring, after the high demand for heating oil during the winter has passed and before the high demand for gasoline during the summer driving season has started, oil refineries cut back on production to perform regular maintenance of their facilities. Typically, the reduction in refinery output in the US tightens the balance between [...]
Read More »Oil Prices Surge Upward on Positive Retail Sales Report
Oil prices jumped today, boosted by a report from the US Commerce Department that showed retail sales shrunk by just 0.1 percent in February, contrary to expectations of a larger contraction. The same report showed a 3.4 percent increase in gasoline sales last month, the largest gain since 2007. Signs of increased lending in China [...]
Read More »Oil Prices Continue Climb on Expected OPEC Cuts and Rising Gasoline Demand
The price for a barrel of crude rose 6.4 percent to close at $45.22 and the price of heating oil gained 3.4 percent today, as encouraging supply and demand data stimulated the market. This morning’s announcement by the UAE’s national oil company that it will make reduced oil shipments to Asia in April continued to [...]
Read More »Oil Prices Shoot Up as Gasoline Supplies Sink and Demand Rises
After initial reactions to the EIA’s latest inventory numbers sent the price of crude up slightly and the price of heating oil down slightly, a huge decrease in gasoline stocks caused the price of both products to rise sharply in afternoon trading. The price of crude rose 6.2 percent to settle at $42.78 a barrel. [...]
Read More »Alaska Finds Economic Relief in Renewable Energy Sources
Two New York Times articles, one in the Business section and one on the “Green Inc.” page, provide a look at the burgeoning renewable energy movement in Alaska, where residents have found that renewable sources can help lower their energy bills.
Alaska possesses huge renewable energy resources. According to the Electric Power Resource Institute, the state [...]
Refining Cuts, Costly Foreign Oil Keep Gas Prices High While Crude Price Sinks
With the world economy facing a major slowdown and crude prices dropping in recent weeks, how can the retail price for gasoline be going up? Frustrated drivers around the country have been asking that question since the beginning of the year, when average retail prices of gasoline began their steady climb. The answer to that [...]
Read More »Once Tightly Linked, Crude and Heating Oil Prices Now Move More Independently
Heating oil customers who follow the price of crude oil on the commodities markets might be wondering how the price of crude could be going down while the price they pay for heating oil stays the same or even increases. Not too long ago, crude oil and heating oil prices almost always moved [...]
Read More »Experts Struggle to Explain Surge in Oil Prices
The price of crude increased by a full 6 percent in just one day last Friday, and had already gained an additional 3 percent by noon today. Such price spikes can usually be explained by a geopolitical event or economic data that affect the supply of or demand for crude oil, heating oil, or gasoline. [...]
Read More »Chávez Reclaims Political Capital by Reinstating U.S. Heating Oil program; Why Don’t American Oil Companies do the Same?
As The HEAT Zone reported yesterday, the CITGO heating oil assistance program was hastily restored after a brief two-day suspension brought on by economic concerns in the Venezuelan government as a result of slumping oil revenue. In response to the rapid policy change, Time writer Tim Padgett wrote an intriguing article wondering why American [...]
Read More »Rising Stockpiles Drive Down Oil Prices
The Energy Information Administration’s stockpile data, released this morning at 10:30 eastern time, showed increases in all three petroleum products that far surpassed forecasts, weighing heavily and crude and heating oil prices. Crude oil fell over 12% to $42.63 a barrel and heating oil closed down almost 5%.
Analysts had predicted an increase in crude stockpiles [...]
