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Oil Costs

All articles tagged with #oil costs

business2 years ago

"Record-breaking Gas Prices Hit Los Angeles, Soaring Near $6 per Gallon"

Gas prices in the Los Angeles area have surged to almost $6 per gallon, with the average price reaching $5.92. This is a 5-cent increase from the previous day and nearly 40 cents higher than a week ago. The national average is $3.88 per gallon. High oil costs, with prices hovering around $90 per barrel, are keeping gas prices elevated, although demand is lower. Prices may gradually decline as fall approaches, according to AAA. However, they still have a way to go before reaching the record highs of $6.49 per gallon seen a year ago.

via KTLA Los Angeles|
#aaa#business#gas-prices
economy2 years ago

San Diego County Gas Prices Surge by 12.7 Cents

The average price of a gallon of self-serve regular gasoline in San Diego County has spiked by 12.7 cents, reaching its highest amount since October 2021. The average price has been on the rise for 51 out of the past 55 days, increasing by a total of 87 cents. The national average price also rose slightly, with oil costs putting upward pressure on pump prices, although demand remains lower.

via ABC 10 News San Diego KGTV|
#aaa#economy#fuel-demand
energy2 years ago

Rising Gas Prices: Causes, Impacts, and Regional Variations

Gas prices in the United States have reached a 10-month high, with the national average price for a gallon of unleaded gasoline at $3.87. The increase is attributed to rising oil costs since June, a slowdown at refineries due to extreme heat, and concerns over hurricane season. If a hurricane hits Gulf refineries, supply could be curtailed, leading to further price increases. Analysts warn that gas prices nearing $4 per gallon could impact budgets and contribute to inflation.

via USA TODAY|
#energy#gas-prices#hurricane-season
energy2 years ago

Record-breaking heat drives gas prices to highest level of the year

Gas prices in the United States have reached their highest level in nine months due to rising oil costs and heat-induced refinery production cuts. The average price for a gallon of regular-grade gas is now $3.80, 26 cents higher than a month ago. Refineries scale back production during heat waves as a safety and efficiency measure, and much of the country's refinery capacity is located in areas where temperatures have exceeded 95 degrees. While analysts expect gas prices to ease by October, hurricane season could lead to further price hikes, especially in South Florida where water temperatures have exceeded 100 degrees.

via The Washington Post|
#energy#gas-prices#heat-wave