Medical and Hospital News  
OIL AND GAS
U.S. gas prices holding steady
by Daniel J. Graeber
Chicago (UPI) Feb 21, 2017


disclaimer: image is for illustration purposes only

Weak consumer demand is offsetting volatility with oil prices and leaving retail gasoline markets relatively unchanged in the United States, analysis finds.

Consumer price-watcher GasBuddy.com reports a national average retail price for a gallon of regular unleaded gasoline at $2.28, relatively unchanged from one week ago. Their analysis from last week, however, found this may be the seasonal bottom for retail gasoline prices.

"Even as oil prices continue their seemingly confused sideways price pattern, weaker domestic gasoline demand and refiners moving to liquidate winter gasoline inventories in advance of their gradual switchover to summer blends sets the stage for higher prices in the weeks ahead," petroleum analyst Dan McTeague said in a statement.

Refiners during winter months use a blend of gasoline that's cheaper to make because fewer environmental safeguards are necessary during colder weather. That reverses during the summer and, coupled with increased vacation travel, pushes the price at the pump higher.

The West Coast remains the most expensive market in the region, with California holding the distinction of the state in the Lower 48 with the most expensive gas at $2.90 per gallon. With refineries in preparation for the shifting blends for summer, the region also saw some of the largest increases.

On the other hand, the Great Lakes states continued their streak of volatility, with Michigan leading the pack with a decline in retail gasoline prices of 6.8 cent to $2.29 per gallon. That regional pattern could indicate refiners are unloading their winter stockpiles and GasBuddy reported that gasoline supplies in the region are moving lower.

Oil prices, which account for slightly more than half of what consumers see at the gasoline pump, are trading still in the range of $55 per barrel. That could in part explain the relative stability for consumer gas prices. Oil prices are balanced by competing trends as members of the Organization of Petroleum Exporting Countries trim production to balance the market, which because of the subsequent gain in oil prices is bringing more producers to expensive areas like U.S. shale.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
US-led coalition expects to stay in Iraq after Mosul
Baghdad (AFP) Feb 20, 2017
The commander of the US-led coalition fighting the Islamic State group said Monday he expected its forces would be allowed to stay in Iraq after Mosul is recaptured. "I don't anticipate that we will be asked to leave by the government of Iraq immediately after Mosul," Lieutenant General Stephen Townsend said. The US commander was speaking at a press conference in Baghdad wrapping up a br ... read more


OIL AND GAS
'Scorpion' robot mission inside Fukushima reactor aborted

Bringing satellites to users can improve public health and safety

Free hairdos to boost confidence of displaced Iraqi women

Myanmar jade mine landslide kills 9: official

OIL AND GAS
GLONASS station in India to expedite 'space centric' warfare command

Australia and Lockheed field 2nd-Gen sat-based augmentation system

UK may lose access to EU Galileo GPS system after Brexit

Falsifying Galileo satellite signals will become more difficult

OIL AND GAS
Study: The human brain always has a backup plan

Study links working remotely to more stress, insomnia

Chimpanzee feet allow scientists a new grasp on human foot evolution

Humans subconsciously perceive words as 'round' or 'sharp'

OIL AND GAS
Indonesian orangutan brutally killed and eaten

Scientists find surprising harmony among cats and dogs in India

Geneticists reveal how parenting rewires the beetle brain

How evolution alters biological invasions

OIL AND GAS
Bird-flu deaths rise in China, shutting poultry markets

Test can detect HIV within a week of infection: researchers

At least five infected with HIV at Chinese traditional medicine hospital

West Nile virus epidemics made worse by drought: study

OIL AND GAS
Villagers glorify their children in China festival

Hong Kong police jailed over attack on democracy protester

Struggle against evil sparks China ritual

Ex-VP of China's top court jailed for life over graft

OIL AND GAS
Philippines seeks US, China help to combat sea pirates

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.