Summer Gasoline Prices Expected to be Highest in Four Years

Brent Crude

Brent Crude

EIA expects US motor gasoline consumption for summer 2018 to average 9.6 million b/d, up slightly (0.2%) from last summer.

The U.S. Energy Information Administration forecast a almost 14% year-over-year rise in summer gasoline prices on the back of expectations for higher crude oil prices, according to a report released Tuesday. It's at $2.67 per gallon of regular unleaded.

"Gas prices are only a penny away from topping the $2.67 high of 2017", said Jeanette Casselano, AAA spokesperson.

Harvest Management LLC Increases Position in Nxp Semiconductors Nv (NXPI)
On Thursday, October 26 the stock of NXP Semiconductors N.V. (NASDAQ: NXPI ) has "Hold" rating given by Drexel Hamilton. A low number in the 1-2 range typically indicates a Buy, 3 represents a Hold and 4-5 indicates a consensus Sell rating.

The lowest prices are forecast to be along the Gulf Coast region at an average of $2.45 a gallon, while the West Coast region is expected to see the highest, at $3.22 a gallon.

According to information from GasBuddy, the continued surge as the pump can be attributed to oil prices rising to $67 per barrel, the highest mark since 2014. WTI took a hit alongside the equities market in the U.S. According to EIA reports, crude exports hit a record high of 15.2 million barrels last week.

Pump prices expected to continue to rise as spring arrives.

May mulls Syria action despite cautious mood in UK
May has chose to call her top team to London "to discuss the response to events in Syria", a Downing Street spokeswoman told AFP. Pictures of the victims evoked a strong response from European leaders and the US President Donald Trump.

The average price is much higher in Bellingham. The state average Sunday was $2.46, 15 cents higher than one month ago and 32 cents higher than the same time previous year.

Seven gas stations tied for the lowest price of $2.47, including Gate and Walmart Neighborhood Market on North Green Street, Ingles Gas Express and Quality Plus on Carbon City Road, Murphy Express on West Fleming Drive, Raceway on Burkemont Avenue and Speedway on West Union Street. Summer highway travel is projected to increase by 1.3%, but its effect on motor gasoline use will be partially offset by a 1.2% increase in fleet-wide fuel efficiency.

During the summer, the EIA expects prices across different U.S. regions to diverge noticeably, with the average price of regular summer grade gasoline forecast to average $2.45/gal in PADD III, the Gulf Coast, compared with $3.22/gal in PADD V, the West Coast.

SPDR MSCI Taiwan StrategicFactors ETF (QTWN) Declines 4.4248% for April 12
The Dow Jones industrial average closed down almost 219 points, or 0.9%, at 24,189, after rising almost 429 points the day before. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.