Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[What price makes gas too expensive?]]>http://www.autoblog.com/2013/05/02/what-price-makes-gas-too-expensive/http://www.autoblog.com/2013/05/02/what-price-makes-gas-too-expensive/http://www.autoblog.com/2013/05/02/what-price-makes-gas-too-expensive/#commentsFiled under:

gas price sign

Gas prices are substantially lower than they were a year ago, but according to a new gas-price index released by AAA, about 61 percent of those polled said that prices are too high when gas is above $3.50 per gallon - the current national average for regular gasoline is $3.51 per gallon. Forty-six percent of those polled felt that anything above $3.00 per gallon is too high, but as Robert L. Darbelnet, president and CEO of AAA, points out, prices have been around $3.00 for more than two years so this price is likely the "new normal."

In total, AAA interviewed just over 1,000 adults to find their gas-price breaking point and what they do to offset high prices. According to the study, 86 percent said they would drive less, 54 percent said they would drive a more fuel-efficient car and 33 percent said they would carpool more. Almost half of all those polled who were between the ages of 18 and 34 said they are more willing to cut fuel expenses by using public transportation or working closer to home.

Of course, maybe the answer is just to buy more bicycles like the Italians? Head on over to AAA for the full results of the study.

What price makes gas too expensive? originally appeared on Autoblog on Thu, 02 May 2013 08:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>expensive gasgas pricesThu, 02 May 2013 08:30:00 EST http://www.autoblog.com/feed/20549132/article-comments.xml http://www.autoblog.com/feed/2013/05/02/what-price-makes-gas-too-expensive/20549132/article-detail.xml 20549132 http://www.blogcdn.com/www.autoblog.com/media/2013/04/gas-prices-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/gas-prices-628.jpg <![CDATA[US families spent an average of nearly $3,000 on fuel last year]]>http://www.autoblog.com/2013/02/05/us-families-spent-an-average-of-nearly-3-000-on-fuel-last-year/http://www.autoblog.com/2013/02/05/us-families-spent-an-average-of-nearly-3-000-on-fuel-last-year/http://www.autoblog.com/2013/02/05/us-families-spent-an-average-of-nearly-3-000-on-fuel-last-year/#commentsFiled under: ,

gasoline pump nozzle

Does it feel like more of your paycheck is going to pay to fuel up your vehicle? According to the US Energy Information Administration, it is. Last year, the average US household paid $2,912 for gasoline, which represents almost four percent of the average household annual income. The government agency notes that this is the highest percentage of household income spent on fuel in almost 30 years (save 2008, when the numbers were similar).

Oddly enough, US gas consumption fell to its lowest level since 2001, but gas prices have risen dramatically over the last couple of years to take a bigger bite out of our paychecks - 26.1 percent alone in 2011 and another 3.3 percent in 2012. Last year's 3.3 percent fuel price increase was slightly more than the 2.9 percent increase in household income. The one thing we can't blame this on is modern cars. Despite the fact the average US household's travel has increased "significantly" since the '80s, vehicles are now more efficient than ever.

US families spent an average of nearly $3,000 on fuel last year originally appeared on Autoblog on Tue, 05 Feb 2013 13:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>average household fuel expensefuel pricesgas pricegas pricesgasoline pricespain at the pumpus energy information administrationus fuel expensesus fuel priceTue, 05 Feb 2013 13:31:00 EST http://www.autoblog.com/feed/20449028/article-comments.xml http://www.autoblog.com/feed/2013/02/05/us-families-spent-an-average-of-nearly-3-000-on-fuel-last-year/20449028/article-detail.xml 20449028 http://www.blogcdn.com/www.autoblog.com/media/2013/02/fuel-pump-nozzle-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/02/fuel-pump-nozzle-628.jpg <![CDATA[How this summer's drought might affect your car's gasoline]]>http://www.autoblog.com/2012/11/14/how-this-summers-drought-might-affect-your-cars-gasoline/http://www.autoblog.com/2012/11/14/how-this-summers-drought-might-affect-your-cars-gasoline/http://www.autoblog.com/2012/11/14/how-this-summers-drought-might-affect-your-cars-gasoline/#commentsFiled under: ,

Corn farm

In 2007, then-president George Bush signed a law that required increased production of ethanol. Swelling ethanol demand for fuel combined with this past summer's drought has driven the price of corn (used to make ethanol) up. In fact, prices have swollen some 400 percent in the last seven years. That's comforting for corn growers, who are dealing with much smaller yields than normal. But it's not comforting for livestock producers, poultry farmers and grocery shoppers.

Under the law, the amount of ethanol used in gasoline is supposed to increase to 15.2 billion gallons this year, up from five billion in 2007. The Environmental Protection Agency can decide to delay the increase, however, and it has until Tuesday to consider the circumstances. According to The Detroit News, governors from eight states have asked the EPA to waive the ethanol requirements to prevent corn prices from going any higher. They join almost 200 members of Congress, top United Nations officials, two dozen scientists and scores of poultry farmers in opposing the boost in ethanol production. Governors of poultry-producing states Maryland and Delaware say without a waiver, thousands of jobs could be lost.

On the other side are corn-producing states and the farmers who live there. They argue a waiver would harm their agricultural income and, in turn, harm their state economies.

If a waiver is granted, gas formulations might not be affected at all. E10 gasoline (10-percent ethanol) would still be sold at fuel stations across the nation, but an increase in ethanol production would be delayed. If a waiver is not granted, corn growers will see a demand in their product. And since all that new ethanol has to go somewhere, drivers may see more pumps serving E20 E15 gasoline (20 15-percent ethanol) which cannot be used in pre-2001 vehicles.

How this summer's drought might affect your car's gasoline originally appeared on Autoblog on Wed, 14 Nov 2012 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>corncorn pricese10e15e20e20 gasolineenvironmental protection agencyepaethanolfarmingfuel pricesgas pricesgasolineWed, 14 Nov 2012 18:30:00 EST http://www.autoblog.com/feed/20380041/article-comments.xml http://www.autoblog.com/feed/2012/11/14/how-this-summers-drought-might-affect-your-cars-gasoline/20380041/article-detail.xml 20380041 http://www.blogcdn.com/www.autoblog.com/media/2012/11/drought-ethanol-gasoline-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/11/drought-ethanol-gasoline-628.jpg <![CDATA[Italians buy more bikes than cars for the first time since WWII]]>http://www.autoblog.com/2012/10/04/italians-buy-more-bikes-than-cars-for-the-first-time-since-wwii/http://www.autoblog.com/2012/10/04/italians-buy-more-bikes-than-cars-for-the-first-time-since-wwii/http://www.autoblog.com/2012/10/04/italians-buy-more-bikes-than-cars-for-the-first-time-since-wwii/#commentsFiled under: , ,

Monica Bellucci on bicycle

In the midst of economic turmoil in Europe, more Italians are turning to bikes as their preferred mode of transportation. Such is the bicycle's popularity in Italy that purchases of the pedal-powered two wheelers have eclipsed automobile sales for the first time since World War II.

According to The Christian Science Monitor, last year 1.75 million bikes were sold in Italy, compared to 1.748 million motor vehicles. Contributing to this trend are rising fuel prices and hefty costs associated with keeping a car on the road. Gas prices recently hit €2 a liter ($9.50 a gallon), and the average cost of ownership is estimated at around €7,0000 ($9,000) a year.

There is also the sheer congestion associated with driving in many parts of Italy. Narrow roads and a high level of automobile ownership (6 in 10 own cars, one of the highest rates in the world), have made for cramped streets in many Italian cities. The author of the report notes that a several-mile journey in the heart of Rome is quicker by bike than taxi.

Fiat boss Sergio Marchionne is among those feeling the heat from this trend, admitting "Anyone operating in the automotive sector in Europe today is experiencing varying degrees of unhappiness. The European car market is a disaster." Fiat released industry figures that showed September auto sales down 25 percent compared to the same period in 2011.

Antonio Della Venezia, president of the Italian Federation of Bike Lovers told Italian paper La Republica, "People who have only ever driven cars are changing their thinking. I don't think Italy will go back to the levels of car sales that we saw before 2008."

He may be right. Many families are downsizing to just one car, participating in carpool groups, and purchasing bicycles as alternatives to the rising costs of automobile ownership. It is estimated that around 200,000 old bikes have been restored for regular use. The inexpensive and convenient mode of transportation has once again caught on in Italy - just ask Monica Bellucci.

Italians buy more bikes than cars for the first time since WWII originally appeared on Autoblog on Thu, 04 Oct 2012 15:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bicyclebicyclingcyclingeuropefuel pricesgasgas pricesItalymonica bellucciromesergio marchionneThu, 04 Oct 2012 15:45:00 EST http://www.autoblog.com/feed/20341755/article-comments.xml http://www.autoblog.com/feed/2012/10/04/italians-buy-more-bikes-than-cars-for-the-first-time-since-wwii/20341755/article-detail.xml 20341755 http://www.blogcdn.com/www.autoblog.com/media/2012/10/monica-bellucci-bicycle_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/monica-bellucci-bicycle.jpg <![CDATA[Why gas stations in NJ, PA are selling $8/gallon gas in protest]]>http://www.autoblog.com/2012/09/12/why-gas-stations-in-nj-pa-are-selling-8-gallon-gas-in-protest/http://www.autoblog.com/2012/09/12/why-gas-stations-in-nj-pa-are-selling-8-gallon-gas-in-protest/http://www.autoblog.com/2012/09/12/why-gas-stations-in-nj-pa-are-selling-8-gallon-gas-in-protest/#commentsFiled under: ,



Over 50 gas stations across New Jersey and Pennsylvania have raised the price of their fuel to more than eight dollars a gallon. They are all Lukoil stations, and their owners have raised prices in protest of practices by Lukoil North America that they say leave individual gas station owners at a competitive disadvantage.

According to a report by the Huffington Post (full disclosure: HP is also owned by Autoblog parent AOL), the protest is a response to the high prices that Lukoil apparently charges its franchise owners for fuel. The owners of the gas stations contend that they are paying more for delivery than what competing stations are charging to the public.

Sal Risalvato is a member of the New Jersey Gasoline, Convenience, Automotive Association, and is one of the owners frustrated with Lukoil. "They essentially sell the very same gasoline to stations in close proximity of each other at different prices in order to game the market and compete with other gasoline brands," says Risalvato. The result of this practice, he claims, is pricing that may differ by as much as 25 cents a gallon between a given Lukoil station and a nearby competitor. In a business where some people drive miles out of the way for the cheapest gas prices, the effects of that disparity can be massive.

Protesting Lukoil franchise owners have upped their gas prices to eight dollars a gallon and beyond to raise awareness for these practices. Lukoil, Russia's second-largest oil producer, first arrived in the U.S. in 2003. Today there are more than 500 stations throughout the Northeast and Mid-Atlantic regions.

Why gas stations in NJ, PA are selling $8/gallon gas in protest originally appeared on Autoblog on Wed, 12 Sep 2012 13:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fuelfuel pricesgasgas priceshigh gas priceshuffpolukoilpain at the pumpprotestsal risalvatoWed, 12 Sep 2012 13:31:00 EST http://www.autoblog.com/feed/20321763/article-comments.xml http://www.autoblog.com/feed/2012/09/12/why-gas-stations-in-nj-pa-are-selling-8-gallon-gas-in-protest/20321763/article-detail.xml 20321763 http://www.blogcdn.com/www.autoblog.com/media/2012/09/gas-pump-nozzle_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/09/gas-pump-nozzle.jpg <![CDATA[You think gas prices are bad here, Italians are paying $9.50/gal]]>http://www.autoblog.com/2012/09/06/you-think-gas-prices-are-bad-here-italians-are-paying-9-50-gal/http://www.autoblog.com/2012/09/06/you-think-gas-prices-are-bad-here-italians-are-paying-9-50-gal/http://www.autoblog.com/2012/09/06/you-think-gas-prices-are-bad-here-italians-are-paying-9-50-gal/#commentsFiled under: , , ,

Gas station in Italy

Drivers in certain parts of Italy are currently shelling out a staggering $9.50 per gallon of gasoline, according to Bloomberg. The hefty fuel prices are largely the result of the European debt crisis. Italy has hiked fuel taxes in an attempt to get a handle on the country's public debt, which has the dubious honor of being the fourth-highest in the entire world. Of course, the jump in fuel costs has only hurt consumer spending in the country, sending Italy even farther into a recession that continues to damage Fiat earnings.

Fuel prices have increased by around 20 percent versus the same time period last year, and that jump has caused new car sales to slacken by 20 percent through the first seven months of 2012. Meanwhile, gasoline and diesel consumption has fallen by around 9.7 percent through June.

According to analysts, with gas at these prices the average Italian family is spending more on fuel than it is on food. Ouch.

You think gas prices are bad here, Italians are paying $9.50/gal originally appeared on Autoblog on Thu, 06 Sep 2012 08:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>debt crisiseuropean debt crisisfiatfuel pricesgas pricesitaly fuel pricesThu, 06 Sep 2012 08:28:00 EST http://www.autoblog.com/feed/20313950/article-comments.xml http://www.autoblog.com/feed/2012/09/06/you-think-gas-prices-are-bad-here-italians-are-paying-9-50-gal/20313950/article-detail.xml 20313950 http://www.blogcdn.com/www.autoblog.com/media/2012/09/gas-station-italy_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/09/gas-station-italy.jpg <![CDATA[Rising fuel prices got you down? Blame Twitter]]>http://www.autoblog.com/2012/08/07/rising-fuel-prices-got-you-down-blame-twitter/http://www.autoblog.com/2012/08/07/rising-fuel-prices-got-you-down-blame-twitter/http://www.autoblog.com/2012/08/07/rising-fuel-prices-got-you-down-blame-twitter/#commentsFiled under: , , ,

Woman fuels up at a Gulf station

The power of social media has revealed itself today in the form of fluctuation in fuel prices based on a false tweet.

According to The Wall Street Journal, a Twitter account claiming to be Russian Interior Minister Vladamir Kolokoltsv tweeted that Syrian president Bashar al-Assad had been injured or killed. That tweet which occurred at 9:59 AM EST, was followed by two more tweets alleging the confirmation of al-Assad's death.

In the hour following that tweet, light, sweet crude prices rose from $90.82 to $91.99, and the jump took place in between 10:15 and 10:45. According to the Reuters report, the Russian ministry denies firing off the tweets and denies any connection to the account.

Price Futures Group analyst Phil Flynn pointed out "a well-placed story can move the market, and that looks like what happened." Though Syria itself is not a major oil producer, it is feared that Iran would react to the news because of their connection to and support of Assad

In the wake of sanctions imposed due to their continued participation in a nuclear weapons program, Iran has threatened to close off the Straight of Hormuz, a major throughway for ships carrying crude oil to the rest of the world.

Because of the hypersensitivity of the international tensions in the Middle East, and those trading in oils who follow the area closely, the rumor of Assad's demised spread like wildfire. The combination of Mideast unrest, and the spread of information through texts and tweets means it's unlikely this is the last time something like this will happen.

Rising fuel prices got you down? Blame Twitter originally appeared on Autoblog on Tue, 07 Aug 2012 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bashar al-assadfuelfuel pricesgas pricesmiddle eastmiddle east conflictpeak oilprice futures grouptwittervladamir kolokoltsvTue, 07 Aug 2012 17:30:00 EST http://www.autoblog.com/feed/20295094/article-comments.xml http://www.autoblog.com/feed/2012/08/07/rising-fuel-prices-got-you-down-blame-twitter/20295094/article-detail.xml 20295094 http://www.blogcdn.com/www.autoblog.com/media/2012/08/fueling-up-at-gulf-station_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/08/fueling-up-at-gulf-station.jpg <![CDATA[The U.S. is exporting oil products, so why is the price of gas still high?]]>http://www.autoblog.com/2012/06/07/the-u-s-is-exporting-oil-products-so-why-is-the-price-of-gas-s/http://www.autoblog.com/2012/06/07/the-u-s-is-exporting-oil-products-so-why-is-the-price-of-gas-s/http://www.autoblog.com/2012/06/07/the-u-s-is-exporting-oil-products-so-why-is-the-price-of-gas-s/#commentsFiled under: ,



It has always been the habit of the party that doesn't occupy the White House to blame various ills on the party that does. Especially in the past few years when it has come to gas prices, the party-in-waiting has blamed the POTUS for "pain at the pump." We're not taking sides here - Republicans are doing it to Obama now, just like Democrats did it to Bush. Unfortunately for their arguments, the President has about as much control over the price of oil as he does over the price of bread; if you saw what it took to get either to the retail outlet, the enormity of intricacies would make it plain.

Case in point: In 2008, the U.S. began exporting oil products like gas and diesel for the first time in decades and, according to a report in Fortune, even though the U.S. is producing more oil than any time in the past eight years, the price of gas is still high. Part of the issue is the bottleneck in transportation: Two pipelines carry the black gold to the nation's major clearinghouse for oil in Cushing, Oklahoma, where the president can be seen in the image above, and there aren't enough pipelines to get it from there to refiners. One analyst called Cushing "the 'Roach Motel' for crude" because it could get in but not really get out.

On top of this, domestic gas demand has dropped. That has added to the glut of oil awaiting shipment, which drove down the price of our own benchmark oil, West Texas Intermediate (WTI), by double digits compared to its European counterpart, Brent crude. Obviously, oil-market traders - whose contracts set the price for oil - couldn't let that continue, so they essentially walked away from WTI, a move that had the effect of setting the benchmark price at the higher Brent crude price. Put simply, they asked "Why sell a cheap commodity when I can sell the same commodity for more money?" And as we know, more expensive oil means more expensive gasoline.

That's the gist, but naturally this is a huge simplification. For instance, there are more than 100 kinds of oil traded on the markets and we've only mentioned two, and middlemen between drillers and the gas station can number in the dozens. But the point is that when you want to know what's up with gas prices, don't look at toward the White House - no matter who is in office - look at traders who will work to get the best prices they can, at refiners who can idle facilities to support prices and at the minutiae of production. The U.S. doesn't even own the oil drilled here - companies purchase drilling rights from the government and the oil they find belongs to them; they can sell it to anyone anywhere. Once they get it out of Cushing, that is. And if you think the much disputed Keystone Pipeline might help, some analysts believe it will make the price of oil rise.

The U.S. is exporting oil products, so why is the price of gas still high? originally appeared on Autoblog on Thu, 07 Jun 2012 19:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>brent crudegasgas pricesoiloil pricespain at the pumpprice of gaswest texas intermediateThu, 07 Jun 2012 19:00:00 EST http://www.autoblog.com/feed/20236130/article-comments.xml http://www.autoblog.com/feed/2012/06/07/the-u-s-is-exporting-oil-products-so-why-is-the-price-of-gas-s/20236130/article-detail.xml 20236130 http://www.blogcdn.com/www.autoblog.com/media/2012/06/141709219_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/06/141709219.jpg <![CDATA[Values of small used cars fall in lockstep with gas prices]]>http://www.autoblog.com/2012/05/31/values-of-small-used-cars-fall-in-lockstep-with-gas-prices/http://www.autoblog.com/2012/05/31/values-of-small-used-cars-fall-in-lockstep-with-gas-prices/http://www.autoblog.com/2012/05/31/values-of-small-used-cars-fall-in-lockstep-with-gas-prices/#commentsFiled under: , , ,

Used Mini Coopers for sale

The Detroit News reports used small-car prices are plummeting right along with fuel prices. The news comes courtesy of a National Automobile Dealers Association study, which says gas prices have dropped an average of 3.5 percent compared to last year. In yet another shocking reminder of just how short buyers' memories can be, analysts predict light trucks will take home the largest share of car sales this month. Even so, used car sales in general are expected to fall off by around two percent. Truck sales, meanwhile, will likely only see a 1 percent dip.

Compare that to used compact and mid-sized models, which are expected to see their values drop by 2.4 percent. Dealers may have a hard time selling used hybrids in the coming months. That's good news for buyers who've been waiting to jump into a more fuel efficient model. After all, it's not a question of if gas prices will climb back up, but when.

Values of small used cars fall in lockstep with gas prices originally appeared on Autoblog on Thu, 31 May 2012 09:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>car salesdealersfuel pricesgas priceslight trucksnadanational automobile dealers associationused car pricesused car salesused carsThu, 31 May 2012 09:15:00 EST http://www.autoblog.com/feed/20247749/article-comments.xml http://www.autoblog.com/feed/2012/05/31/values-of-small-used-cars-fall-in-lockstep-with-gas-prices/20247749/article-detail.xml 20247749 http://www.blogcdn.com/www.autoblog.com/media/2012/05/used-mini-cooper-for-sale_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/used-mini-cooper-for-sale.jpg <![CDATA[ABC: Thousands of rejected/condemned gas pumps in use, could cost you $$$]]>http://www.autoblog.com/2012/05/22/abc-thousands-of-rejected-condemned-gas-pumps-in-use-could-cos/http://www.autoblog.com/2012/05/22/abc-thousands-of-rejected-condemned-gas-pumps-in-use-could-cos/http://www.autoblog.com/2012/05/22/abc-thousands-of-rejected-condemned-gas-pumps-in-use-could-cos/#commentsFiled under: ,

gas pump measurement

Most of us likely assume that the gas pump that is providing petrol is giving you the fuel that you pay for - no more or less. While that may be true in most cases, ABC News in Baltimore, Maryland proves that sometimes pumps do bad things to good people.

The report details Maryland state gas station inspections that have revealed over 4,000 defective pumps over the last four years. In all, that's between five and six percent of the 40,000 gas pumps in Maryland, or way too many error-prone pumps for our tastes.

While our primary concern is that customers aren't getting what they pay for, it seems the gas station owners are more likely to get the short end of the stick. The report claims that station owners are three times more likely to lose money than the customer. Scroll down to watch the ABC News report.

Continue reading ABC: Thousands of rejected/condemned gas pumps in use, could cost you $$$

ABC: Thousands of rejected/condemned gas pumps in use, could cost you $$$ originally appeared on Autoblog on Tue, 22 May 2012 09:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>abc newsgasgas pricesmarylandpumpvideoTue, 22 May 2012 09:59:00 EST http://www.autoblog.com/feed/20241247/article-comments.xml http://www.autoblog.com/feed/2012/05/22/abc-thousands-of-rejected-condemned-gas-pumps-in-use-could-cos/20241247/article-detail.xml 20241247 http://www.blogcdn.com/www.autoblog.com/media/2012/05/gas-measure_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/gas-measure.jpg <![CDATA[Analyst suggests gas prices may have peaked at $3.92/gal]]>http://www.autoblog.com/2012/04/11/analysts-suggest-gas-prices-may-have-peaked-at-3-92-gal/http://www.autoblog.com/2012/04/11/analysts-suggest-gas-prices-may-have-peaked-at-3-92-gal/http://www.autoblog.com/2012/04/11/analysts-suggest-gas-prices-may-have-peaked-at-3-92-gal/#commentsFiled under: ,

Mobil gas prices signage

High gas prices burning through your checking account faster than a Bugatti Veyron through premium? At least one analyst says the pressure might drop soon. Patrick DeHaan, senior analyst for gasbuddy.com thinks fuel prices have peaked for the year, with the national average sitting at $3.92 for the last week. According to USA Today, DeHaan expects average national gas price to fall to $3.70 before May.

If you're the type to send Thank You cards, keep in mind all those Toyota Prius owners who have sacrificed driving pleasure for greater fuel economy, and the leadership in Iran who have kept things kind of quiet over there for a few days. Depending on your political bent, you can also thank either the Democrats and/or Republicans for fostering a slow economy. All those elements contributed to lower oil prices and, in turn, lower gas prices. In contrast, the Federal Energy Administration is still predicting a $4.01/gal peak next month.

Either way, don't rush out and buy that gas-guzzling supercar just yet. Any number of factors could send fuel prices flaring. Meanwhile, enjoy your cheap, $3.92/gal regular while it lasts.

Analyst suggests gas prices may have peaked at $3.92/gal originally appeared on Autoblog on Wed, 11 Apr 2012 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fuelfuel pricesgas pricesgasbuddy.commpgpain at the pumppatrick dehaanWed, 11 Apr 2012 11:30:00 EST http://www.autoblog.com/feed/20213119/article-comments.xml http://www.autoblog.com/feed/2012/04/11/analysts-suggest-gas-prices-may-have-peaked-at-3-92-gal/20213119/article-detail.xml 20213119 http://www.blogcdn.com/www.autoblog.com/media/2012/04/mobil-gas-chicago-price-4-6-12opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/mobil-gas-chicago-price-4-6-12opt.jpg <![CDATA[Shell struggles to pay $1B oil bill to Iran due to sanctions]]>http://www.autoblog.com/2012/03/27/shell-struggles-to-pay-1b-oil-bill-to-iraq-due-to-sanctions/http://www.autoblog.com/2012/03/27/shell-struggles-to-pay-1b-oil-bill-to-iraq-due-to-sanctions/http://www.autoblog.com/2012/03/27/shell-struggles-to-pay-1b-oil-bill-to-iraq-due-to-sanctions/#commentsFiled under: ,

Shell oil

With the price of a barrel of oil beyond $100 per drum, global oil powerhouse Royal Dutch Shell is raking in some serious coin. But while Shell is bringing in the big bucks, it still cannot pay one very important client.

Bloomberg is citing four sources who claim that Shell is finding it difficult to pay Iran about $1 billion due to financial sanctions put in place by the United States and Europe. The bill is reportedly the result of about eight million barrels of oil. On January 23, the European Union placed the ban on oil from Iran, but gave companies until July to wind down business with the world's second-largest producer of oil.

Shell is in a tough spot because it is stuck between obeying sanctions aimed at forcing Iran to scrap its nuclear program and paying the National Iranian Oil Co, which supplies about 100,000 barrels of crude daily. But while Shell is at risk of angering Tehran, other oil companies stopped getting oil from Iran months ago.

It doesn't appear that it will be easy for Shell to pay its bill, but there may be a way. Bloomberg reports that the oil giant could approach the British government to help settle the debt.

Shell struggles to pay $1B oil bill to Iran due to sanctions originally appeared on Autoblog on Tue, 27 Mar 2012 10:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>gas pricesiraniran sanctionsnuclear programoilroyal dutch shellsanctionsshelltehranTue, 27 Mar 2012 10:29:00 EST http://www.autoblog.com/feed/20200643/article-comments.xml http://www.autoblog.com/feed/2012/03/27/shell-struggles-to-pay-1b-oil-bill-to-iraq-due-to-sanctions/20200643/article-detail.xml 20200643 http://www.blogcdn.com/www.autoblog.com/media/2012/03/shell-oil_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/03/shell-oil.jpg <![CDATA[Pentagon report says U.S. pays $400/gal for gas in Afghanistan [w/video]]]>http://www.autoblog.com/2011/12/06/pentagon-report-says-u-s-pays-400-gal-for-gas-in-afghanistan/http://www.autoblog.com/2011/12/06/pentagon-report-says-u-s-pays-400-gal-for-gas-in-afghanistan/http://www.autoblog.com/2011/12/06/pentagon-report-says-u-s-pays-400-gal-for-gas-in-afghanistan/#commentsFiled under: , , ,

fuel airdrop in afghanistan

Fed up with the price of gas? We feel your pain. Depending on what state you live in, gas is likely to be found for somewhere between three and four dollars per gallon - and make no mistake, that figure is enough to amount to a sizable chunk of the average American's monthly paycheck.

A new Pentagon report obtained by The Wall Street Journal suggests that American motorists should consider themselves lucky to have such affordable fuel: U.S. military operations stationed in Afghanistan are paying a lot more than that... up to $400 per gallon of fuel delivered to troops on the ground - 100 times what we are asked to shell out. Yikes.

The astronomical cost of fuel is due in part to how it must be delivered: by parachute. Huge military cargo planes operated by the Air Force fly to a remote drop zone and send dozens of pallets to the ground, containing items like food, water and, of course, fuel.

There's more bad news. Due to the dangers of setting up ground-based supply convoys, the military fully expects that air-drops will be increasingly necessary in the coming months and years. And that means our military's fuel bill is only going to get more and more expensive.

Check out a couple of video reports explaining the issue after the break.

Continue reading Pentagon report says U.S. pays $400/gal for gas in Afghanistan [w/video]

Pentagon report says U.S. pays $400/gal for gas in Afghanistan [w/video] originally appeared on Autoblog on Tue, 06 Dec 2011 13:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>afghanistanafghanistan fuelafghanistan suppliesair dropairdropcost of fuelfuel costgas pricesmilitarymilitary fuel costmilitary suppliesTue, 06 Dec 2011 13:29:00 EST http://www.autoblog.com/feed/20121908/article-comments.xml http://www.autoblog.com/feed/2011/12/06/pentagon-report-says-u-s-pays-400-gal-for-gas-in-afghanistan/20121908/article-detail.xml 20121908 http://www.blogcdn.com/www.autoblog.com/media/2011/12/military-airdrop_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/12/military-airdrop.jpg <![CDATA[ABC News says gas prices might affect holiday spending]]>http://www.autoblog.com/2011/11/15/abc-news-says-gas-prices-might-affect-holiday-spending/http://www.autoblog.com/2011/11/15/abc-news-says-gas-prices-might-affect-holiday-spending/http://www.autoblog.com/2011/11/15/abc-news-says-gas-prices-might-affect-holiday-spending/#commentsFiled under:

gas price graphic

Americans everywhere are feeling the pinch of high unemployment and a stagnant economy. Even the gainfully employed are having a tough go of things, as wages aren't keeping up with inflation.

ABC News took a look at holiday spending, showing how much the price of a turkey dinner has changed in only one year. The big dinner is expected to cost 13 percent more than it did a year ago, and the big bird will cost about $4 more than last year. Those costs are expected to rise in line with the hike in raw materials, but gas prices are to blame as well.

Follow the jump to watch the ABC News video. Gas prices are up on average 53 cents more per gallon than last year, and some experts claim a gallon of petrol could hit $4 per gallon in time for Valentine's Day. We can hardly wait.

Continue reading ABC News says gas prices might affect holiday spending

ABC News says gas prices might affect holiday spending originally appeared on Autoblog on Tue, 15 Nov 2011 10:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>abc newsgas pricesholidaysthanksgivingturkeyvideoTue, 15 Nov 2011 10:02:00 EST http://www.autoblog.com/feed/20105654/article-comments.xml http://www.autoblog.com/feed/2011/11/15/abc-news-says-gas-prices-might-affect-holiday-spending/20105654/article-detail.xml 20105654 http://www.blogcdn.com/www.autoblog.com/media/2011/11/gas-prices-graphic_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/11/gas-prices-graphic.jpg <![CDATA[Maine gas stations ignoring penalties, shorting customers fuel to make more money]]>http://www.autoblog.com/2011/10/04/maine-gas-stations-ignoring-penalties-shorting-customers-fuel-t/http://www.autoblog.com/2011/10/04/maine-gas-stations-ignoring-penalties-shorting-customers-fuel-t/http://www.autoblog.com/2011/10/04/maine-gas-stations-ignoring-penalties-shorting-customers-fuel-t/#commentsFiled under: ,

Maine gas pump

Think you're paying too much at the pump? Perhaps you are - but not as much as those gassing up in Maine. No, the Pine Tree State doesn't have the highest gas prices in the land (that would still be Hawaii), but it does have a problem with out-of-spec gas pumps. According to state inspection officials, several stations have been found with multiple pumps delivering less fuel than customers are paying for, some of them so inaccurate that the agriculture department has had to order them immediately shut down.

Worse yet, the state lacks the resources to determine whether gas stations owners are purposefully shorting customers or these problems are just random occurrences. While officials say one out-of-spec pump that's not delivering enough fuel might be balanced by one that's flowing more freely than it should, recent inspections have discovered pumps operating up to seven times outside the allowable margin of error. Yet the state can't readily analyze the data it collects during inspections because of outdated computer systems - and a staff of only nine inspectors.

Maine politicians are understandably upset about the issue, but in these times of widespread deficits and budget slashing, it remains to be seen whether they will do anything about it. Of course, Maine is probably not unique in having an overworked weights and measures staff, so we wonder whether we might notice this issue popping up in other places around the country?

Maine gas stations ignoring penalties, shorting customers fuel to make more money originally appeared on Autoblog on Tue, 04 Oct 2011 13:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>gasgas pricesmainescamTue, 04 Oct 2011 13:31:00 EST http://www.autoblog.com/feed/20072712/article-comments.xml http://www.autoblog.com/feed/2011/10/04/maine-gas-stations-ignoring-penalties-shorting-customers-fuel-t/20072712/article-detail.xml 20072712 http://www.blogcdn.com/www.autoblog.com/media/2011/10/maine-gas-pump_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/10/maine-gas-pump.jpg <![CDATA[Americans driving less, log fewest miles since 2004]]>http://www.autoblog.com/2011/08/26/americans-driving-less-log-fewest-miles-since-2004/http://www.autoblog.com/2011/08/26/americans-driving-less-log-fewest-miles-since-2004/http://www.autoblog.com/2011/08/26/americans-driving-less-log-fewest-miles-since-2004/#commentsFiled under: ,

highway supertanker

The price of a gallon of gasoline has been a major downer so far in 2011, and data shows that it may be affecting driving habits. According to The Detroit News, the Federal Highway Administration claims that Americans drove 1.453 trillion miles in the first half of 2011. That's down 1.1 percent compared to the first six months of 2010, or an eye-popping 15.5 billion fewer miles compared to the first half of last year. In fact, the government report shows that total miles are down to the lowest level since 2004.

Traffic was down on both rural and urban roads during that time span, though the greater drop occurred outside our nation's cities. Rural roads dropped by 1.7 percent, while urban roads declined by only one percent.

There is no telling if economic woes and pricey petrol will continue to keep Americans out of their vehicles in the second half of 2011, but it's a solid bet that we'll fall short of the 3 trillion miles traveled in 2010.

Americans driving less, log fewest miles since 2004 originally appeared on Autoblog on Fri, 26 Aug 2011 09:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>economyfederal highway administrationfuelgas pricesmiles traveledFri, 26 Aug 2011 09:59:00 EST http://www.autoblog.com/feed/20026130/article-comments.xml http://www.autoblog.com/feed/2011/08/26/americans-driving-less-log-fewest-miles-since-2004/20026130/article-detail.xml 20026130 http://www.blogcdn.com/www.autoblog.com/media/2011/03/traffic_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/03/traffic.jpg <![CDATA[Presidential candidate Bachmann promises gas under $2.00/gallon if elected]]>http://www.autoblog.com/2011/08/17/presidential-candidate-bachmann-promises-gas-under-2-00-gallon/http://www.autoblog.com/2011/08/17/presidential-candidate-bachmann-promises-gas-under-2-00-gallon/http://www.autoblog.com/2011/08/17/presidential-candidate-bachmann-promises-gas-under-2-00-gallon/#commentsFiled under:



How's this for bold? Congresswoman Michell Bachmann, a candidate for the Republican presidential nomination who won the Ames Straw Poll last weekend, has just stated that one thing we'd get with a Bachmann Administration is - ready? - cheap gasoline. According to Politico she said:

The day that the president became president, gasoline was $1.79 a gallon. Look at what it is today. Under President Bachmann, you will see gasoline come down below $2 a gallon again. That will happen.

Today, said the average price for a gallon of gas is $3.58 per gallon, says the American Automobile Association.

The devil, of course, is in the details, and Bachmann did not explain how she would get the price of fuel down. She's a supporter of drilling in Alaska's Arctic National Wildlife Refuge, but doesn't seem to actually understand how much oil experts think is there. Then there's the fact that opening up ANWR wouldn't reduce prices as the pump quite that quickly (if at all). In 2008, the Energy Information Administration said (PDF):

Additional oil production resulting from the opening of ANWR would be only a small portion of total world oil production, and would likely be offset in part by somewhat lower production outside the United States. The opening of ANWR is projected to have its largest oil price reduction impacts as follows: a reduction in low-sulfur, light crude oil prices of $0.41 per barrel (2006 dollars) in 2026 for the low oil resource case, $0.75 per barrel in 2025 for the mean oil resource case, and $1.44 per barrel in 2027 for the high oil resource case, relative to the reference case.

Oh, and then there's this. Still, a return to $2.00/gallon probably sounds good to some voters, right?

Regardless of where you sit on this issue, you can check out Bachmann delivering her gas price pledge in a brief video after the jump.

Continue reading Presidential candidate Bachmann promises gas under $2.00/gallon if elected

Presidential candidate Bachmann promises gas under $2.00/gallon if elected originally appeared on Autoblog on Wed, 17 Aug 2011 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ames straw pollanwrarctic national wildlife refugebachmanngallon of gasgas pricesmichelle bachmannoil pricespresidential candidateWed, 17 Aug 2011 17:30:00 EST http://www.autoblog.com/feed/20020373/article-comments.xml http://www.autoblog.com/feed/2011/08/17/presidential-candidate-bachmann-promises-gas-under-2-00-gallon/20020373/article-detail.xml 20020373 http://www.blogcdn.com/green.autoblog.com/media/2011/08/michelle-bachmann-630p_thumbnail.jpg http://www.blogcdn.com/green.autoblog.com/media/2011/08/michelle-bachmann-630p.jpg <![CDATA[Are gas prices changing home buying habits?]]>http://www.autoblog.com/2011/05/25/are-gas-prices-changing-home-buying-habits/http://www.autoblog.com/2011/05/25/are-gas-prices-changing-home-buying-habits/http://www.autoblog.com/2011/05/25/are-gas-prices-changing-home-buying-habits/#commentsFiled under: ,

gas station

Rising gas prices have an affect over many aspects of our lives. Besides increasing the cost of operating automobiles, more expensive fuel leads to an increase in the cost of shipped goods, food and airline tickets. Can gas prices also create changing attitudes amongst home shoppers?

Coldwell Bankers Real Estate recently conducted a survey of real estate professionals, and it found that 75 percent reported clients reevaluating where they search for homes. Home shoppers are looking to reduce commuting distance in order to reduce fuel consumption. The survey found that 77 percent of real estate professionals saw an increase in the number of folks looking for home offices and 68 percent of that pool believe the surge is attributable to rising fuel costs.

The folks at Nielsen have a different take on the matter, however, and believe U.S. consumers have adjusted to a new "spending reality." Folks are adjusting their spending habits to conserve where possible, but Nielsen doesn't believe it's on the level of the 2008 economic freakout.

So now we're going to turn to you, dear Autoblog reader. If you're in the market for a house, have rising gas prices shaped your search in any way? Sound off in Comments.

Are gas prices changing home buying habits? originally appeared on Autoblog on Wed, 25 May 2011 18:41:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fuel costsfuel pricesgasgas pricesgas prices home buyinghome buyingnielsenreal estaterealtorWed, 25 May 2011 18:41:00 EST http://www.autoblog.com/feed/19947625/article-comments.xml http://www.autoblog.com/feed/2011/05/25/are-gas-prices-changing-home-buying-habits/19947625/article-detail.xml 19947625 http://www.blogcdn.com/www.autoblog.com/media/2011/05/abandoned-gas-station_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/05/abandoned-gas-station.jpg <![CDATA[<i>Reuters</i>: Gasoline prices begin falling, may be past 2011 peak]]>http://www.autoblog.com/2011/05/18/gasoline-prices-begin-falling-may-be-past-2011-peak/http://www.autoblog.com/2011/05/18/gasoline-prices-begin-falling-may-be-past-2011-peak/http://www.autoblog.com/2011/05/18/gasoline-prices-begin-falling-may-be-past-2011-peak/#commentsFiled under:

gas prices chart

The price of a gallon of crude may have dropped by $16 in the past month, but for the most part, gas prices haven't followed suit. In fact, the nationwide average hit $4 per gallon just last week, or $1.10 higher than it was at this time in 2010.

But while relief at the pump feels far from fruition, Reuters reports that the worst may be behind us. Gas prices have dropped to a national average of $3.96, the first decrease in eight weeks. Diesel fuel is cheaper as well, down 4.3 cents to $4.03 per gallon.

Phil Flynn of PFGBest Research in Chicago reportedly told Reuters, "I think we've turned the corner and we should expect to see substantial price drops in the coming weeks." Flynn adds that we should see a national price of $3.50 per gallon at some point in the summer. Guy Caruso of the Center for Strategic and International Studies goes a step further, speculating that we may have already seen the peak gas price for 2011.

It's hard to believe that we're looking forward to $3.50 per gallon gasoline, but even a cut of 50 cents per gallon can be a big relief on the family budget. If, for example, you drive 15,000 miles per year and your vehicle averages 25 miles per gallon in mixed driving, a per-gallon drop of 50 cents could result in another $300 in your pocket at the end of the year.

It's still early, but we're thinking that the downward trend of oil prices means that relief at the pump is relatively close. Of course, we're not likely to pay $2.50 per gallon again anytime soon, but we'll take whatever we can get.

Reuters: Gasoline prices begin falling, may be past 2011 peak originally appeared on Autoblog on Wed, 18 May 2011 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fuelgas pricesreutersWed, 18 May 2011 13:30:00 EST http://www.autoblog.com/feed/19942904/article-comments.xml http://www.autoblog.com/feed/2011/05/18/gasoline-prices-begin-falling-may-be-past-2011-peak/19942904/article-detail.xml 19942904 http://www.blogcdn.com/www.autoblog.com/media/2011/05/national-gas-prices_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/05/national-gas-prices.jpg <![CDATA[Computer glitch causes gas station to sell 8,000 gallons at $1.10]]>http://www.autoblog.com/2011/05/17/computer-glitch-causes-gas-station-to-sell-8-000-gallons-at-1-1/http://www.autoblog.com/2011/05/17/computer-glitch-causes-gas-station-to-sell-8-000-gallons-at-1-1/http://www.autoblog.com/2011/05/17/computer-glitch-causes-gas-station-to-sell-8-000-gallons-at-1-1/#commentsBSOD

When residents of Wilmington - a neighborhood of Los Angeles, California - got word that a local Valero fueling station was selling gas for the bargain price of $1.10 per gallon, almost immediately, vehicles lined up 'round the corner. This wasn't one of those promo deals on fuel, though. It was a computer glitch that lead to the station dispensing some 8,000 gallons of gas at just $1.10 each.

According to KCAL 9, it took hours for the on-duty gas station attendant to notice the glitch (didn't the line-up of cars give it away?). In the meantime, police arrived on the scene to direct traffic around the overcrowded station.

When station owner Kenny Nguyen got wind of his unintended act of kindness, he immediately shut down all of the pumps. All told, Nguyen estimates that he lost nearly $21,000 due to the glitch. Ouch.

Computer glitch causes gas station to sell 8,000 gallons at $1.10 originally appeared on Autoblog on Tue, 17 May 2011 13:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>cheap gasgasgas pricesgasolinepump pricesvaleroTue, 17 May 2011 13:29:00 EST http://www.autoblog.com/feed/19942581/article-comments.xml http://www.autoblog.com/feed/2011/05/17/computer-glitch-causes-gas-station-to-sell-8-000-gallons-at-1-1/19942581/article-detail.xml 19942581 http://www.blogcdn.com/green.autoblog.com/media/2011/05/2228633614f24352ca3co_thumbnail.jpg http://www.blogcdn.com/green.autoblog.com/media/2011/05/2228633614f24352ca3co.jpg -1 2