We've been hearing for a while that the steady drop in US fuel prices are hurting sales of fuel-efficient cars like hybrids and plug-ins. As far as driving habits, though? Lower prices are the pump are having little impact on how much people are behind the wheel, according to the US Energy Information Administration (EIA).
Gasoline in the US continues its weeks-long descent with prices down about 13 cents a gallon over last week to $2.544, which is lower by around 69 cents/gallon from this time last year, according to the US Energy Information Administration. Many drivers are welcoming the lower bills at the gas station as a fantastic holiday gift, but Ford investors are somewhat spooked over the potential sales implications for the 2015 F-150.
Tesla's stock price was down to around $206 earlier today, but it's back up to over $216 now. Friday, it closed at over $223. Some stock blogs are saying the price could go as low as $165 in the not-too-distant future. What's behind these wild swings that CNBC's Phil LeBeau calls, "the worst seven-day trading period ever for shares of Tesla"? One potential culprit is today's low gas prices.
Naval warfare, aerial warfare, logistical warfare, cyber warfare. There are as many ways to wage war as there are stars in the sky, but economic warfare is perhaps one of the most misunderstood. It's rarely as overt as bombing factories or sinking freighters, featuring more subtle, domestic maneuvers.
It's almost impossible not to notice that it's a lot cheaper to fill up at the gas station in the latter portion of this year. As of December 1, the US Energy Information Administration said the average cost of a gallon of gas was $2.778, down almost 50 cents from a year ago. In general, fuel prices have been on the decline for much of 2014, and the effects have started showing themselves with people seemingly more willing to buy lower efficiency vehicles.
Low Gas Prices Might Actually Create Buying Opportunity
It's been a rough year for green car manufacturers. To many consumers, it appears that so-called green vehicles cost more and are more challenging to operate (limited range, low availability of "exotic" fuels, etc.) And with gasoline prices plummeting, American consumers are much less likely to spend more for a green vehicle.
U.S. consumers could save $61 billion on gas this year
In a dramatic shift from previous forecasts, the Energy Department predicted Wednesday that the average price of gasoline in the U.S. will be $2.94 a gallon in 2015. That is a 44-cent drop from an outlook issued just a month ago.
It took more than the high cost of gas to kill off the Hummer brand, but the military/civilian vehicle's near-endless need for fuel didn't help sales when gas prices started to climb. Turns out, there is still a thirst for the gas-devouring vehicle in the US. The evidence is anecdotal at best, but since we know prices at the pump can change car shopping behavior in America, the idea that more people want a Hummer now than they have these past few years doesn't surprise us at all.
If you haven't noticed, it has been a little cheaper to fill up at the gas station for the last few weeks. According to the US Energy Information Administration, the current national average cost for a gallon of gasoline is $3.299. That's down about a nickel from the previous week and around seven cents lower than this time last year. It doesn't look like this is just a temporary blip either because there's a strong possibility that Saudi Arabia may compel OPEC for lower oil prices for the near
Cheap crude and cold weather blends driving down fuel prices
AAA's predictions of cheap gas for the coming fall season are already being realized. The cheapest average price for the whole year was beat Wednesday, as the average cost of a gallon of unleaded hit $3.27, beating February's price of $3.29.
It's not hard to understand, when gas prices go up, Americans sometimes drive less on national holidays. This year, though gas prices are lower than they have been right before Labor Day since 2010, and that means the American Automobile Association (AAA) is predicting that the number of people taking a road trip of more than 50 miles is expected to rise compared to last year. AAA says that 35 million people will make a 50+ mile trip this year, the highest number since 2008 and up 1.3 percent fr
Okay, okay, okay – it's not as bad as that headline says it is. First of all, even if we did only have 53.3 years of oil left, it'd represent a 1.1-percent improvement over last year's estimate, to 1.69 trillion barrels of oil left. But more importantly, we probably have a hell of a lot more oil left than that. Of course, a lot of it comes from shale, which means fracking, which isn't exactly great for the environment. So, it's not all roses here.
Planning a road trip over the Independence Day weekend? After reading this, you may want to just stay home. Experts say drivers will endure heavy traffic, high gas prices and high numbers of traffic fatalities on the nation's roadways throughout the July 4 weekend.
The real way to keep your milage high and fuel costs low this summer
The summer road trip season is here, and according to AAA, we can expect gas prices to soar. Barring natural disasters or geopolitical problems, consumers can expect to see prices to hover around last summer's high of $3.55 and $3.70 per gallon. How can you have your fun in the sun while avoiding pain at the pump?
APTA says the biggest savings are available to NYC residents
Looking to line your pockets with some extra cash? Perhaps it's time to give up driving. A sobering report from the American Public Transportation Association (APTA) says that people using public transit in the 20 cities with the most riders save an average of $848 dollars a month, or $10,181 a year. Riders in New York see the greatest benefit, saving an average of $15,041 from January to December.
AAA predicts pre-recession numbers of Americans will travel this weekend
More Americans are going to shake off the winter blues with a refreshing spring road trip over the upcoming Memorial Day weekend. AAA is predicting a post-recession high of 36.1 million Americans traveling 50 miles or more over the holiday weekend.