Posts Tagged ‘Gulf Coast’

Christmas gasoline price lowest in 5 years

December 23rd, 2008

WASHINGTON (Reuters) - U.S. drivers are paying the lowest gasoline prices in five years heading into a Christmas holiday week, the government said on Monday.
The national price for regular unleaded gasoline is $1.65 a
gallon, down just over half a cent from the previous week and $1.33 less than a year ago, the federal Energy Information [...]

Oil prices fall on demand concerns

October 22nd, 2008

OIL prices retreated from the previous day’s gains in New York as the market’s attention shifted back to the weak economy.
Light, sweet crude for November delivery expired at $US70.89 a barrel, down $US3.36, or 4.5 per cent on the New York Mercantile Exchange. Trading was light in the expiring contract, with heavier activity seen in [...]

Lower Demand and Falling Oil Prices Unlikely to Prompt OPEC Action: Abraham Energy Report

October 7th, 2008

By Tom Doggett
WASHINGTON, Oct 6 (Reuters) - U.S. retail gasoline prices fell 15 cents a gallon over the last week, dropping below an average $3.50 a gallon for the first time in six months, the government said on Monday.
The national price for regular unleaded gasoline is $3.48 a gallon, up 71 cents from a year [...]

Gas shortage will fade slowly

October 2nd, 2008

Oil from petroleum reserve released for Georgia
By JAMIE GUMBRECHT
The Atlanta Journal-Constitution
Wednesday, October 01, 2008
Another 900,000 barrels of crude oil from the U.S. Strategic Petroleum Reserve are headed toward Gulf Coast refineries that help supply Atlanta’s gasoline.
But don’t expect it to help cut lines at filling stations this week.
The U.S. Department of Energy announced Wednesday it [...]

Michael Peltier: Oil ban lapse won’t affect Gulf, for now

September 29th, 2008

By MICHAEL PELTIER (Contact)
TALLAHASSEE — A decision by Congressional Democrats to allow a federal oil-drilling ban to expire this week may not immediately affect a moratorium on exploration off Florida’s Gulf coast, but the wisdom of that decision depends on with whom you speak.
Congressional Democratic leaders announced late last week they would allow a federal [...]

Manic market pushes gas prices down

September 20th, 2008

Philadelphia Business Journal
The region’s gasoline prices, which appeared headed for an upswing on Monday, have instead dropped, pushed down by this week’s tumultuous market and Hurricane Ike doing less damage to oil industry infrastructure than feared, according to AAA Mid-Atlantic.
Gas prices, which had shot up by double digits in most areas by the start of [...]

Gas Price Gouging Complaints Flood Georgia Investigators

September 20th, 2008

Reported By: Paul Yates
Edited By: Leigha Baugham
ATLANTA (MyFOX ATLANTA) – Georgia investigators received hundreds of complaints about gasoline price gouging after Hurricane Ike battered the Gulf Coast and sent gasoline prices soaring. Even without gouging, Georgia still remains one of the highest in the country when it comes to pump prices.
Action against gas gouging [...]

Futures oil prices rise again

September 18th, 2008

Gregory Meyer
CRUDE oil futures leaped more than $US6 a barrel yesterday shaking off recent weakness after US stockpiles slumped.
Light, sweet crude for October delivery settled up $US6.01 or 6.6 per cent, at $97.16 a barrel on the New York Mercantile Exchange.
November Brent crude on the ICE futures exchange finished up at $US5.62, or 6.3 per [...]

Drilling for oil in U.S. won’t help gas prices

September 18th, 2008

Athens Banner-Herald
Just when the sting of filling up at the gas station had begun to ease after the summer price spike, drivers once again are having to dig deep at the pump. Gasoline prices skyrocketed to new highs Sunday because of concerns about hurricane damage to Gulf Coast oil rigs and refineries and a surge [...]

Oil prices fall —gasoline prices jump

September 16th, 2008

Submitted by WW4 Report on Tue, 09/16/2008 - 02:54.
The price of crude oil dropped below $100 per barrel for the first time in six months Sept. 15, closing at $95.71 on the New York Mercantile Exchange. With Lehman Bros. heading into bankruptcy and Merrill Lynch agreeing to a buyout, the market reacted to fears that [...]