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Crude Oil

Tuesday, April 3, 2012

Crude Oil Prices Increase

In Pennsylvania, today’s average price of self-serve gasoline is $3.932 up 15.5 cents from a month ago and 29.2 cents higher than a year ago.

  From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation: According to AAA’s Fuel Gauge Report, West Texas Intermediate crude oil prices increased $2.21 per barrel to settle at $105.23 yesterday. The increase was attributed to investment dollars entering the market on the first day of formal trading to begin the second quarter.  Gasoline prices across the U.S. continue to rise as tight supplies and refinery concerns keep upward pressure on prices.  The current national average retail price for a gallon of self-serve regular gasoline is $3.923 up 15.9 cents from last month. In Pennsylvania, today’s average price of self-serve gasoline is $3.932 up 15.5 cents from a month ago and 29.2 cents …

Ms Nasty

7:18 pm on Wednesday, April 4, 2012

TOM B PUTS ISSUE DRIVEN ASLEEP W/ HIS HAND!!!!! TOM B, WHAT DO U PAY FOR VASOLINE?   more ›

Wednesday, March 28, 2012

Obama: Tensions With Iran, Increased Demand Pressure Crude Oil Prices

In Pennsylvania, today’s average price for a gallon of self-serve gasoline is $3.890 - that's 33.4 cents higher than a year ago.

  From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation According to AAA’s Fuel Gauge Report, crude oil prices were largely flat to begin the week as West Texas Intermediate prices increased 16 cents per barrel to settle at $107.03 yesterday. This marks $1.06 week-over-week decrease from the settlement price to begin last week.   Last Thursday, AAA had an opportunity to sit down and talk to President Obama and he outlined the two key issues that have pressured prices higher this year: tensions with Iran and increasing global demand for crude oil. Bearish developments for oil prices on both of these issues last week were seen as the primary stories pressuring prices lower. President Obama …

Tom Bartman

1:44 pm on Thursday, March 29, 2012

Demand is hardly the issue. Yes, Iran is part of the reason (sanctions) but it is important to also cite the policies of this administration as the reason. Understand how to the oil market works: The price you pay for gasoline today, is based on what the market thinks supply will be in the distant future. For instance, the closing of oil refineries such as those along the east coast, due to …   more ›

Wednesday, March 7, 2012

Gas Prices Impacted More By Future Uncertainty Than Supply And Demand

In Pennsylvania, today’s average price of self-serve gasoline is $3.774, up 21.6 cents from a month ago and 27.6 cents higher than a year ago.

  From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation: According to AAA’s Fuel Gauge Report, West Texas Intermediate crude went up two cents per barrel yesterday to settle at $106.72. Following a week that saw crude prices move lower, even as tension with Iran remained a central story, yesterday’s price movement continued to reflect concerns regarding the strength of global economies, especially as high crude prices weigh on global economic outlooks.  The market prices for both crude oil and gasoline have been pressured higher by future uncertainty in the market rather than supply and demand fundamentals. While analysts and traders continue to discuss the level of speculation in the …

Thursday, March 1, 2012

Crude Oil Price Increase Is Third Largest Since Start Of 2009

Despite weekly reports of anemic demand, gas prices at the pump continue to rise and have now increased for 32 consecutive days.

  From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation: According to AAA’s Fuel Gauge Report, West Texas Intermediate crude oil fell by $1.21 per barrel yesterday to settle at $108.70. Despite only four trading days due to the Presidents’ Day holiday, last week’s increase in crude prices was the third largest since the start of 2009 and the largest since the first week of March 2011, when prices surged above $100 per barrel for the first time since 2008.  Despite weekly reports of anemic demand, gas prices at the pump continue to rise and have now increased for 32 consecutive days. As gas prices have risen in 2012, it has not been an even increase across all regions. Those in the center of…

Wednesday, February 22, 2012

Crude Oil Reaches 'Highest Settlement Price Since May'

In Pennsylvania, today’s average price of self-serve gasoline is $3.675, up 17.5 cents from a month ago and 47.2 cents higher than a year ago.

  From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation: According to AAA’s Fuel Gauge Report, West Texas Intermediate crude oil increased by $2.60 per barrel yesterday to settle at $105.84. This is the highest settlement price since May 4, 2011. Crude prices were driven higher yesterday by bullish news overseas. An improving economy overseas would be expected to consume more oil, which exerts upward pressure on prices. Currently, refineries in the center of the country have access to relatively cheaper WTI crude products and refineries near the coast must purchase crude at more expensive global prices. This disparity is subsequently reflected in the price that motorists are paying at the …

Tuesday, February 14, 2012

Crude Oil Price Increases

In Pennsylvania, today’s average price of self-serve gasoline is $3.616 up 14.6 cents from a month ago and 44.7 cents higher than a year ago.

  According to AAA’s Fuel Gauge Report, West Texas Intermediate crude oil increased Monday. WTI settled at $100.91 per barrel, which was up $2.24 on the day and above $100 per barrel for the first time since January 19. Crude prices were pressured higher as Greek lawmakers approved austerity measures necessary for the country to receive the second round of bailouts needed avoid defaulting on its debt obligations.  At a national level, the price of gasoline at the pump has continued to rise. The current national average retail price for a gallon of self-serve regular gasoline is $3.513 up 12.5 cents from last month. In Pennsylvania, today’s average price of self-serve gasoline is $3.616 up 14.6 cents from a month ago and 44.7 cents higher …

Wednesday, December 21, 2011

Crude Oil Increase Attributed To 'Weaker U.S. Dollar'

In Pennsylvania, today’s average price of self-serve gasoline is 22.4 cents higher than a year ago.

  From AAA East Central, East Penn Region:  According to AAA’s Fuel Gauge Report, West Texas Intermediate crude oil was up 35 cents yesterday, settling at $93.88. Yesterday’s slight price increase was attributed to a weaker U.S. dollar. As the dollar weakens relative to currencies abroad, the effective purchasing power of those holding foreign currencies increases, while this happens oil futures become a more attractive investment, which exerts upward pressure on prices.  As crude oil prices dropped last week, the price of gasoline at the pump continued to decline and is now at the lowest point since February 23. This is largely due to the substantial demand destruction that continues to weigh on the market.  The current national average …

Friday, November 25, 2011

Gas Demand Sluggish Due To Weak Economy

In Pennsylvania, today’s average price of self-serve gasoline is $3.410 -- down nine cents from a month ago -- and 41.7 cents higher than a year ago.

  From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation: According to AAA’s Fuel Gauge Report, crude oil prices declined in yesterday’s trading, driven by increasing fears of global recession and the possible downgrade of sovereign European countries, as well as a stronger U.S. dollar. While West Texas Intermediate oil prices have increased substantially over the last several months, the price of gasoline at the pump has decreased. WTI prices have increased more than $20 per barrel from $75.67 to begin October to $96.92 yesterday, as the gap between WTI and Brent crude - the traditional global benchmark product - has closed dramatically. During this same period, gasoline demand has remained…

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