Gas prices traditionally take a dive come winter, as demand cools faster than the daily temperature and producers switch to the cheaper "winter blend" of gas. That, however, doesn't account for the precipitous fall in prices, with 2014's nationwide average $3.69 high point, to last week's average of just $2.79. In fact, prices are expected to dive even further in the coming weeks.
U.S. Energy Secretary Steven Chu said the federal government will continue to emphasize finding alternative forms of transportation energy sources over merely trying to find ways to cut gas prices, Politico is reporting, citing Chu's comments at a Washington, D.C., House appropriations hearing earlier this week.
While walking through the displays at major auto shows, we often think about what we'd recommend to our readers. As we study the dozens of new vehicles ranging from hybrid sedans to full-size SUVs, we realized our recommendations needed to factor in future fuel prices.
41Friedman: How China's electric vehicle industry is going to rocket past the U.S. - and everyone else
The debate rages on as to whether gas prices in America are too low, and we could be looking at a very different picture if things don't change drastically here soon. For an example of what might be, check out New York Times columnist Thomas Friedman, who paints a picture of where the electric vehicle (EV) industry could be going if gas prices stay where they are. In his words, "you'll import your new electric car from China just like you're now importing your oil from Saudi Arabia."
Speaking at a symposium on electric vehicles (EVs) in Toronto, the vice president of Magna E-Car Systems, Dave Pascoe, admitted that even though numerous automakers have committed to producing EVs, the likelihood that these vehicles will have broad appeal depends almost entirely on the price of gasoline. Pascoe believes that high up-front costs will restrict sales of battery-powered vehicles unless the cost of gasoline tops C$1.36 per liter ($5 a gallon U.S. at the current exchange rate.)
According to the American Petroleum Institute's (API) Monthly Statistical Report, U.S. gasoline deliveries for the first half of 2010 averaged 8.88 million barrels per day, 0.6 percent lower than the corresponding period a year ago. Though the drop in demand is minuscule, it does provide us with an indication that despite low gas prices and a rebounding economy, U.S. demand for gas continues to wane.
Gasoline consumption across the U.S. has steadily declined during the last decade. Analysts have chalked up the drop in gas usage over the last ten years to the rise in more efficient technologies, better public transportation, the stalled economy and steadily increasing gas prices.
We all love to see high fuel prices, right? Well, some of us might, but the majority of us would rather not pay through the roof for a gallon of gas. There's definitely a consensus that high gas prices are good for the environment in many ways, but few of us are willing to foot the bill to help out Mother Nature's cause.
In the summer of 2008, we saw Americans respond pretty quickly to gas that cost $4 a gallon (or more). Now that we've had time to adjust to average prices a little bit north of $2.50 in most parts of the country for the last half year or so, what will it take to get people to say, "Hey, gas costs a lot again and we should think seriously about fuel efficient cars and driving behavior"? According to consumer data that Edmunds.com looked at, even the cost going up to around $3.50 isn't going to be
It's still awful cold in most parts of the country, and the DOE's Energy Information Administration (EIA) is looking ahead to summer. What do they see? $3 gallons of gas in the U.S. This isn't much of a jump from today's national average – and it's quite a drop from the highs of summer 2008 – but it could forecast some tough times ahead for people with gas-hungry vehicles. For all of 2010, the EIA's "Short-Term Energy Outlook" is predicting that gas will cost $2.84 per gallon. In 201
In case you fill up your gas tank so infrequently that you hadn't noticed (lucky you!), fuel prices here in the United States are on their way back up. According to a recent Kelley Blue Book study, 87-percent of new-car shoppers said they thought gas prices would go much higher. Seems like the obvious choice to us, too.
Another year, another record profit statement from Exxon Mobil, the world's largest publicly traded oil company. The specific mind-numbingly large figure is $45.2 billion, which translates to $8.69 per share. While this figure handily beats the previous record of $40.6 billion that had been set by Exxon Mobil in 2007, these huge profits were recorded mostly in the second and third quarters of 2008 when fuel prices were at record levels in much of the world. Fourth quarter earnings fell by 27%, t
var digg_url = 'http://digg.com/autos/Can_You_Handle_the_Truth_About_High_Gas_Taxes'; People have always had something of an aversion to hard truths. Most Americans say they want their country to get off foreign oil or help the environment, but when it comes to the bottom line, they want cheap fuel. And when the prices on gas pumps start to dip, consumer interest in smaller more efficient vehicles tends to go out the window. Understandably, drivers everywhere tend to make vehicle purchasing d
While overall new vehicle sales are still in the tank, there is some good news for you if you're trying to sell big trucks. With the ever-declining price of gasoline, truck and SUV sales are seeing a rebound and will make up 51 percent of the total this month. This isn't great news for those of us who think downsizing is the way to go, but when gas prices shoot up again (and they will), we'll see who's smiling.
It's the same old story, people say one thing, yet do another. The price of fuel has fallen to the point that it's no longer financially ruinous to fill the tank on a full-size pickup, so looks like truck sales will eclipse cars in December. Despite the public's rhetoric about smaller and more fuel efficient vehicles, the populous has seemingly gone back for another feed at the truck trough. Winter tends to remind people of the things that SUVs and trucks are good for, like plowing and effortles