First quarter fuel demand jumps 1.4% in the first quarter, according to the Energy Information Administration. By Brian L. Milne, Energy Editor, Schneider Electric Preliminary data from the Energy Information Administration (EIA) shows gasoline demand in the U.S. ending the first quarter 1.4% higher than during the same three months in 2012, although down 1.2%…
U.S. Gasoline Prices Pause Ascent—Renewed Advance Awaits
By Brian L. Milne, Energy Editor, Schneider Electric For the first time since the middle of December, the U.S. average price for regular grade gasoline moved lower according to the Energy Information Administration’s (EIA) weekly survey, pressured by worries over economic growth and the effect on fuel demand, along with lower asking prices by suppliers…
Gasoline Prices Stirred Higher on Optimism
By Brian L. Milne, Energy Editor, Schneider Electric The American Petroleum Institute (API), the Washington, DC-based trade organization for the oil and gas industry, on Jan. 18 said at 8.7 million bpd U.S. gasoline deliveries in 2012 fell to their lowest level in 11 years, while down 0.4% compared with 2011. During 2012, gasoline demand…
Wholesale Gasoline Costs Slide as Supply Tightness Eases
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were lower in most metropolitan markets across the U.S. coming into the final full week of October, pressured by rebuilding gasoline supply as refinery processing ramps up after a series of unexpected outages had propelled gasoline costs sharply higher. The total domestic gasoline inventory…
Pain at the Pump Hits Californians
Brian L. Milne, Refined Fuels Editor, Telvent DTN The odd pairing of weak demand for gasoline while supply is tight has been a running theme in the U.S. for much of 2012, while unplanned refinery outages have had a more dramatic effect on certain regional markets, the latest in California. On the heels of a…
Wholesale Gasoline Costs Mixed in Late September
Wholesale gasoline costs moved mixed in very choppy trading during the third week of September, with the benchmark futures contract slumping to a six-week low at one point before rebounding on renewed optimism for the global economy amid central bank stimulus measures. A huge build in crude stocks reported by the Energy Information Administration for…
Gasoline Prices in Uptrend Through Labor Day
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices made sharp gains in late July, early August, and there’s more upside left in the cash market, which will filter through to retail outlets across the U.S. Absent a steep selloff, retail gasoline prices are poised to move higher in most U.S. metropolitan…
Murphy Oil Corp. Announces Executive Management Changes
President and CEO retires after 17 years with Murphy Oil. The Board of Directors of Murphy Oil Corp. has announced the appointment of Steve Cossé as president and CEO, effectively immediately. David Wood, the company’s current president, CEO and member of the Board of Directors, will retire after a 17-year career at the company…
Retail Gasoline Prices Seen Sliding Again
by Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration (EIA) should report its tenth consecutive weekly decline in the U.S. national average for regular grade gasoline sold at retail outlets Monday (6/11), with the previous average of $3.612 gallon on June 4 a nearly four-month low. The EIA’s average shows gasoline…
More Downside for Retail Gasoline Prices
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were mixed in metropolitan markets across the U.S during the final week of April, but retail gasoline prices should continue moving lower in early May. At $3.87 gallon on April 23, the Energy Information Administration’s US average for retail gasoline prices was at…