Tag

Gasprices

All articles tagged with #gasprices

environment1 year ago•11 min saved

California's New Fuel Standards Set to Increase Gas Prices

The California Air Resources Board approved new clean air standards expected to raise gas prices, sparking criticism from lawmakers over transparency and environmental groups for insufficient pollution reduction. The updated Low Carbon Fuel Standard aims to cut transportation emissions by 30% by 2030, adding costs to oil refiners likely passed to consumers. Despite concerns over affordability and transparency, the standards are seen as crucial for transitioning to electric vehicles, with ongoing oversight promised to address potential negative impacts.

via KCRA Sacramento|

#airresourcesboard #california #cleanair

energy1 year ago•2 min saved

Trump's Potential Impact on Oil Prices and Market Uncertainty

The re-election of former President Trump could benefit oil companies by rolling back regulations, but may also lead to higher gas prices if he imposes stricter sanctions on Iran, affecting global oil supply. Analysts suggest that while US refining capacity has not returned to pre-pandemic levels, potential geopolitical tensions could cause price spikes. However, gas prices are expected to remain around $3 per gallon, with possible decreases by the end of the year.

via New York Post |

#energy #gasprices #oilcompanies

economy2 years ago•3 min saved

"U.S. Gas Prices Dip Below $3 as Fuel Costs Continue to Decrease Nationwide"

Gas prices in the U.S. have dropped below $3 a gallon at the majority of stations, a level not seen since May 2021. This decrease is influenced by seasonal factors such as weak post-holiday demand and is expected to last until refineries begin maintenance and switch to costlier blends. Despite brief oil market disruptions due to tensions in the Red Sea and Houthi rebel attacks, oil prices remain subdued, with Brent crude around $76.54 a barrel and U.S. crude at $70.96. The current low gas prices, including diesel falling below $4 a gallon, are beneficial for the economy by reducing shipping costs. However, prices are anticipated to rise again by Memorial Day, potentially increasing by 35 to 85 cents per gallon.

via CBS News|

##economy #energy

energy-and-environment2 years ago•1 min saved

"Analysts Forecast Continued Decline in Gas Prices into 2024 Amidst EV Rise and Surging Fuel Stocks"

The U.S. Energy Information Administration forecasts that electricity generation from solar and wind will surpass coal for the first time in 2024, with solar expected to see a 39% increase from 2023. This shift towards renewable energy sources is set to reduce the carbon footprint of electric vehicles (EVs), making them even more environmentally friendly. Concurrently, Gas Buddy predicts that U.S. gas prices will average $3.38 per gallon in 2024, a decrease from the 2023 average, potentially saving Americans $32 billion in fuel costs. However, the impact on EV drivers is uncertain due to recent electricity price hikes, which could affect the cost advantage of EVs over gasoline vehicles despite the anticipated drop in gas prices.

via Green Car Reports|

##electricvehicles #energy-and-environment