Mexican Media Brands
U.S. Gasoline Prices Soar
Americans are paying an average of $3.73 per gallon nation for gasoline, up 14 cents in the past week and 43 cents higher than a month ago, according to AAA Daily Fuel Gauge Report.
#economics
Share
Americans are paying an average of $3.73 per gallon nation for gasoline, up 14 cents in the past week and 43 cents higher than a month ago, according to AAA Daily Fuel Gauge Report.
The current pump price is 17 cents higher than a year ago.
Gasoline prices usually rise in the spring when refiners switch to producing their summer blends. Pump prices peaked last year at $3.93 in early April.
Analysts say speculators are anticipating the tighter supplies caused by the changeover by bidding up gasoline prices now. Gasoline futures closed last Friday at $3.13 on the New York Mercantile Exchange, up more than 3% for the week.
The U.S. Energy Information Administration predicts gasoline prices will average $3.55 per gallon this year, down from $3.63 in 2012.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.