Mexican Media Brands
U.S. Gasoline Prices Ease
The average price of gasoline in the US. has slipped 5 cents per gallon since last week to $3.70 per gallon for gasoline nationwide, according to the AAA Daily Fuel Gauge Report.
#economics
Share
The average price of gasoline in the US. has slipped 5 cents per gallon since last week to $3.70 per gallon for gasoline nationwide, according to the AAA Daily Fuel Gauge Report.
Analysts attribute the dip to lower crude oil prices and increases in refinery output. Gasoline prices jumped about 45 cents year over year in the past five weeks as refiners made the switch to summer-grade fuel.
The U.S. Energy Information Administration says the country's weekly average gasoline price has declined for the first time since mid-December. The agency says pump prices surged 53 cents during that period to as high as $3.78 per gallon.
The EIA predicts U.S. gasoline prices will remain near their February average of $3.67 per gallon. The agency expects pump prices to average $3.55 this year compared with $3.63 in 2012.
Crude oil futures rose 48 cents on the New York Mercantile Exchange on Tuesday to close at $92.54 per barrel, down from nearly $98 at the beginning of February.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.