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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsU.S. Gasoline Cheapest Since Mid-May After Rout at Pumps
by Christine Harvey
July 12, 2015 4:28 PM EDT
Drivers paid an average $2.8328 a gallon for regular gasoline at U.S. pumps over the past two weeks, the lowest since May 15, according to Lundberg Survey Inc.
Retail prices slid 1.66 cents in the period through July 10 and are down 3.34 cents since June 12. Gasoline was cheapest in Jackson, Mississippi, at $2.42 a gallon, according to the survey, which is based on information obtained at about 2,500 filling stations by the Camarillo, California-based company.
Gasoline retreated at U.S. pumps in the past month as falling crude-oil prices reduced refiners costs for producing the motor fuel. Nationwide gasoline supplies rose 1.2 million barrels to 218 million in the week ended July 3, the biggest increase since April, government data showed. Retail gasoline is almost 84 cents lower than a year ago, according to Lundberg.
The slide in crude-oil prices has been a gift to refiners, who are passing those cost cuts through the system and down to the consumer, said Trilby Lundberg, president of the survey. Its likely well see another national decline at the pump as refiners continue slashing wholesale prices for retailers and distributors.
West Texas Intermediate slipped $6.89 to $52.74 a barrel in the period covered by the survey. Gasoline futures declined 3.2 cents to $2.0165 a gallon in that same time.
more...
http://www.bloomberg.com/news/articles/2015-07-12/u-s-gasoline-cheapest-since-mid-may-after-rout-at-pumps
Wellstone ruled
(34,661 posts)we just got hit with a 25-40 cent increase here in Vegas and LA. Can you say,rigged.
Purveyor
(29,876 posts)California Crisis
A separate survey showed that California drivers paid an average $3.6073 a gallon for regular gasoline on July 11, about 12 cents higher than the previous day, according to Lundberg.
Southern California markets are experiencing a supply crisis because of refinery issues, Lundberg said.
Los Angeles-area refineries operated by Phillips 66, Valero Energy Corp. and Tesoro Corp. were said to be producing at reduced rates last week due to maintenance, people familiar with the matter said July 10. Exxon Mobil Corp. continued work on multiple units at its Torrance, California, site, including a fluid catalytic cracker that was damaged in an explosion in February.
hack89
(39,171 posts)due to their environmental laws. California gas is refined just in California - they cannot import refined gas from other states. Foreign oil companies had slowed down crude exports to California because prices had fallen and there were more lucrative markets. Now that prices are rising, imports of crude will rise.
http://abc7.com/business/why-are-gas-prices-spiking-in-socal/846867/
Wellstone ruled
(34,661 posts)Most of our Fuel here in the Valley is sourced out of Salt Lake City Refineries. And if you go to Reno area it comes out of the Sac area refineries and the pricing in and east of Reno are 25-30cents cheaper. This B.S. about Refinery outages is just that. It is all about the Refined Product Price set in Chicago and New York. Your are saying Cali has a different blend formula than say Oregon our any other place,not,it is all blended fuel using Ethanol and that is usually 10% with various Name Brands adding their propitiatory additives. As far as Crude,Cali Refineries are now allowed to buy Alaskan crude,in saying that,Japan and Korea as well as China must be full up. It is all about fleecing the public.
hack89
(39,171 posts)especially the part about crude imports falling due to falling prices in California
Wellstone ruled
(34,661 posts)Cali crude source now includes Alaskan Crude which was embargoed form West Coast Refineries previously. And what we are seeing is a so called manufactured short fall,I call it price fixing and that is being used as leverage to relax EPA rules. Price Fixing my friend.
hack89
(39,171 posts)Wellstone ruled
(34,661 posts)Sucks when you have to question the original article Author. Our news media has zero morals or honesty. All about I got the money.
Wellstone ruled
(34,661 posts)any stringent EPA rules or Laws.. We are a BUSINESS friendly State. Just a dumping ground for anything anytime anywhere. We now are a Libertarian Utopia.
hack89
(39,171 posts)Nevada has to meet federal Clean Air Act standards - here is the EPA site listing all specific things Nevada has to do regarding air quality.
http://www.epa.gov/region9/air/actions/nv.html
From the California government web site listing Motor fuels consumed in California:
http://energyalmanac.ca.gov/gasoline/types_of_gasoline.html
Wellstone ruled
(34,661 posts)ethanol blended with Regular Fuel. And yes they are required to use cleaner crude,in saying that,most of the Refineries have installed the latest Cracking Tower Technology for cleaner refined product. Refined fuels are a fungible product. Once it is on the Road,that load can be bought and sold many times before it hits it's final end user. And it could end up in any state. Doubt me,ask the Guy unloading fuel at your local Gas Station sometime. What one really has to watch for is the blending of ethanol and water in your fuel supply. Common Summertime crap in the Midwest.
MindPilot
(12,693 posts)SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County rose 15.2 cents Sunday to $3.902 after increasing 16.7 cents on Saturday and 8.4 cents on Friday.
http://www.cbs8.com/story/29529949/san-diego-gas-prices-continue-to-rise
hack89
(39,171 posts)it therefore has its unique laws of supply and demand that may not be in synch with the rest of the country.
http://abc7.com/business/why-are-gas-prices-spiking-in-socal/846867/
MindPilot
(12,693 posts)But every year it seems like that fact catches the producers by surprise. And it didn't cost 16 cents more per gallon to make it on Saturday than it did on Friday which apparently cost 8 cents more than on Thursday.
"Different Formula" is a bullshit excuse.
hack89
(39,171 posts)as foreign oil suppliers shifted their crude to more lucrative markets? California gas is refined only in California and depends on oil imports.
Wellstone ruled
(34,661 posts)attempt to destroy Environmental Laws. Has less to do with supply or demand,we are seeing a crisis created by Big Oil to jack the consumer into thinking,no more EPA. If the Wholesalers are bringing product from out of State,then if this article fails to tell us they will be selling illegal product. Yes.
hack89
(39,171 posts)the article specifically states that crude imports dropped due to low prices but now crude suppliers are rushing product to California to take advantage of the rise in prices. Things will stabilize and prices will drop in relatively short order.
olddots
(10,237 posts)We complain but do nothing about it.
hack89
(39,171 posts)your gas is unique to California. What we need is for all of America to adopt California's clean air standards.
yeoman6987
(14,449 posts)hack89
(39,171 posts)The USC Childrens Health Study measured lung development between the ages of 11 and 15 and found large gains for children studied from 2007 to 2011, compared to children of the same age in the same communities from 1994-98 and 1997-2001.
The gains in lung function paralleled improving air quality in the communities studied and across the Los Angeles basin, as policies to fight pollution took hold.
Local, state and federal regulations have achieved large reductions in pollutants in the Los Angeles basin. In 2011, the concentration of NO2 was below the federal standard throughout the basin. PM2.5 was below the federal standard over most of the basin and near the standard in a small area straddling Riverside and San Bernardino counties. However, the federal standard was lowered in 2012, leaving the five communities in the study at or slightly above the new standard.
https://news.usc.edu/76761/las-environmental-success-story-cleaner-air-healthier-kids/
MindPilot
(12,693 posts)Why are you so adamant about countering the opinions of people who have lived in CA for decades?
Yes, CA law requires a seasonal blend change, and yes air in LA is cleaner that it has been pretty much since most of us can remember, but none of that changes the fact that we get this same dog and pony show every damn year. This time, it is "refinery capacity" , net time, it will be "transportation costs". All oil company bullshit.
hack89
(39,171 posts)and how do you know that I didn't live in California for an extended period - I did spend 20 years in the Navy after all.