Posts Tagged ‘Oil Prices’

ORLANDO, Fla., April 12, 2006

Average gasoline prices are nearly 40 cents higher than one year ago today with self-serve, regular gasoline now costing an average of $2.687 per gallon, AAA’s daily, online Fuel Gauge Report (www.aaafuelgaugereport.com) shows. 

Troy GreenAAA, the nation’s largest organization for motorists, said prices are being driven higher by increasing tension between the United States and Iran, rising demand for gasoline in the United States and a domestic refining industry that has been falling behind in rebuilding depleted gasoline inventories.

AAA said tensions between Iran and the United States are pushing oil prices higher, even as demand for gasoline in the United States is continuing to rise by a slight 1.5 percent over last year. Adding more upward pressure to pump prices are U.S. refineries that appear to be having a difficult time managing a switch from fuel blended with MTBE to gasoline combined with ethanol. This is evidenced by several weeks of declines in US gasoline inventories as reported by the US Department of Energy.

According to AAA, Hawaii has the highest average gas price in the nation at $2.969 per gallon. Washington, D.C. and California have the next highest average prices at $2.866 per gallon and $2.86 per gallon; respectively.

The lowest state-wide average gasoline price in the nation is in Utah at $2.339 per gallon. Wyoming has the next lowest average price at $2.372 per gallon, and Idaho has the third lowest price at $2.382 per gallon.

Nationwide, the price of self-serve, mid-grade gasoline averages $2.853 per gallon, an increase from $2.506 per gallon in the middle of last month, and up from $2.416 one year ago. Self-serve premium averages $2.995 per gallon, up from $2.597 per gallon one month ago, and up from $2.504 one year ago.

The national average prices for self-serve regular unleaded gasoline for AAA’s mid-April survey for the last five years are: 2005, $2.360; 2004, $1.78; 2003, $1.595; 2002, $1.411; and 2001, $1.587.

AAA’s Fuel Gauge Report is based on data from Oil Price Information Service, the nation’s most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation’s largest motoring and leisure travel organization, AAA provides nearly 49 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.

ORLANDO, Fla., March 14, 2006

Gasoline prices are at their hightest levels since last November 9 with the current nationwide average prices of self-serve, regular gasoline at $2.363 per gallon, AAA’s daily, online Fuel Gauge Report shows. 

Troy GreenAAA, the nation’s largest organization for motorists, said the high prices are partly due to oil prices near $64 per barrel, as well as seasonal maintenance being preformed at gasoline refineries which temporarily limits gasoline production.

AAA said current prices are somewhat puzzling, however, since domestic gasoline inventories are near year-ago levels when a gallon of self-serve regular averaged $2.032 per gallon; or 33 cents less expensive than today.

Hawaii has the highest price in the nation at $2.729 per gallon. California and New York have the next highest average prices at $2.573 per gallon and $2.471 per gallon; respectively.

The lowest state-wide average gasoline price in the nation is in New Jersey at $2.163 per gallon. South Carolina has the next lowest average price at $2.22 per gallon, and Wyoming has the third lowest price at $2.231 per gallon. Nationwide, the price of self-serve, mid-grade gasoline averages $2.509 per gallon, an increase from $2.443 per gallon in the middle of last month, and up from $2.157 one year ago. Self-serve premium averages $2.599 per gallon, up from $2.531 per gallon one month ago, and up from $2.236 one year ago.

The national average prices for self-serve regular unleaded gasoline for AAA’s mid-March survey for the last five years are: 2005, $2.032; 2004, $1.72; 2003, $1.702; 2002, $1.215; and 2001, $1.435.

AAA’s Fuel Gauge Report is based on data from Oil Price Information Service, the nation’s most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation’s largest motoring and leisure travel organization, AAA provides nearly 49 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.

ORLANDO, Fla., February 14, 2006

Motorists have little to love about the cost of fuel, but prices at the pump are falling this Valentine’s Day, AAA’s daily, online Fuel Gauge Report (www.aaafuelgaugereport.com) shows. 

Troy GreenAAA, the nation’s largest organization for motorists, said the nationwide average price of gasoline is down five cents per gallon from one week ago to $2.286. This the lowest price since January 6 when gasoline cost $2.266 per gallon.

AAA said declining gasoline prices are a result of sharply lower oil prices. In recent weeks, oil had been trading near $70 per barrel on geopolitical fears. Prices have come down substantially in the last two weeks, however, trading close to $61 per barrel today.

Despite these recent positive developments, today’s gasoline price remains 40.2 cents higher than one year ago.

Statewide average prices are above $2.00 in every state with Hawaii having the highest price in the nation at $2.863 per gallon. California and New York have the next highest average prices at $2.56 per gallon and $2.54 per gallon; respectively.

The lowest state-wide average gasoline price in the nation is in Missouri at $2.091 per gallon. Ohio, Minnesota and Kentucky have the next to lowest average prices. Motorists are paying $2.136 in Minnesota, $2.137 in Ohio and $2.139 in Kentucky.

Nationwide, the price of self-serve, mid-grade gasoline averages $2.429 per gallon, a decrease increase from $2.47 per gallon in the middle of last month, and up from $2.01 one year ago. Self-serve premium averages $2.515 per gallon, down from $2.569 per gallon one month ago, and up from $2.06 one year ago.

The national average prices for self-serve regular unleaded gasoline for AAA’s mid-February survey for the last five years are: 2005, $1.894; 2004, $1.643; 2003, $1.605; 2002, $1.12; and 2001, $1.492.

AAA’s Fuel Gauge Report is based on data from Oil Price Information Service, the nation’s most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation’s largest motoring and leisure travel organization, AAA provides nearly 49 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.

WASHINGTON, DC., January 10, 2006

Study Confirms EPA Heading in Right Direction in Revising Process for New Car Fuel Economy Labeling 

Troy GreenAAA today released a new report conducted by the Automobile Club of Southern California’s Automotive Research Center (ARC) that confirms the need to revise testing procedures for fuel economy labeling so that consumers can make informed decisions when they purchase new vehicles. The study also demonstrates that at least one existing Environmental Protection Agency test — known as the USO6 emissions certification test — comes closer to reflecting real world driving conditions and more accurately estimates fuel economy.

The release of the report coincides with EPA’s announcement of proposed new fuel economy labeling procedures and confirms that the agency is taking an important step in committing to change the way it calculates fuel economy. The existing testing procedures for fuel economy labeling are 30 years old.

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“From AAA’s perspective, it’s about one simple truth: Consumers want to know that the information they see on a government-sanctioned label reasonably reflects what they will experience on the road,” said Robert L. Darbelnet, AAA President and CEO. “The government can do a better job to achieve that objective, and we can do it without creating an entirely new testing system.”

Using their state-of-the-art emissions and vehicle test laboratory, the Auto Club’s ARC technicians gathered owner miles per gallon data from 41 vehicles (see attached chart), representing 18 models that include the most popular vehicles on the road today. These data were collected through a series of rigorous scientific tests that included: gathering motorists’ actual mileage over at least a one-month period, testing at least one of each model in the laboratory, and measuring fuel economy by driving the cars tested in the lab over a 100-mile standardized loop.

The results show that 90 percent (36 out of 41) of the vehicles experienced mileage worse than the current EPA estimate – by an average of four mpg and an average deviation of 15.7 percent. ARC researchers then conducted a series of tests using an existing EPA test typically used for monitoring emissions called the “USO6” test. This test simulates aggressive driving, congestion and high speeds. The results show that the USO6 test resulted in only a one mpg, or a 4.4 percent deviation, from the “real world” test.

“Our research confirms the current testing system EPA uses to determine mpg ratings in many instances significantly over estimates real world mpg ratings because it does not account for the way we drive today,” said Steven Mazor, Manager of the Automotive Research Center of the Automobile Club of Southern California. “The USO6 test does a better job of estimating mpg and it can be done without requiring manufacturers to create a new and costly testing system.”

Last year, AAA joined leaders in Congress to call on the EPA to address the disparity between the EPA sticker rating and the mileage motorists were actually getting on the road. The proposal announced by the EPA Administrator today demonstrates a willingness on the part of the agency to try a new approach that will lead to more accurate information for consumers, according to AAA.

“Purchasing a new vehicle is an expensive investment that consumers take very personally and make with great care,” said Darbelnet. “Many factors contribute to the decision, with vehicle fuel economy becoming increasingly important as consumers experience higher fuel prices.”

AAA says this research also illustrates that the way a person drives directly impacts the mileage they are likely to see, and drivers can play a crucial role in achieving the best mileage possible from their vehicles. MPG varied significantly with the same models when vehicles were driven differently, according to the Auto Club’s ARC test.

“Motorists should know that there will never be a perfect test for determining your mileage,” said Darbelnet. “However, if we want to maximize our mileage and be sensitive to our environment, we must remember that how we maintain our vehicle and how we choose to drive significantly contributes to saving money at the gas pump and conserving fuel.”

Vehicle tests were performed at the Automotive Research Center of the Automobile Club of Southern California located in Diamond Bar, Calif. The Auto Club is the southern California AAA affiliate and has been performing emissions testing since the early 1970s. The ARC features state-of-the-art facilities and equipment operated by highly qualified Auto Club research technicians.

As North America’s largest motoring and leisure travel organization, AAA provides its nearly 49 million members with travel, insurance, financial and automotive-related services, as well as member-exclusive savings. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.

ORLANDO, Fla., January 10, 2006

The nationwide average price of gasoline is sharply higher with the start of the new year and could go higher in the next week or two, according to AAA, the nation’s largest organization for motorists. 

Troy GreenThe nationwide average price of self-serve regular gasoline is $2.322 today, AAA’s daily, online Fuel Gauge Report (www.aaafuelgaugereport.com) shows. This is 15.1 cents higher since the middle of December 2005, and 55 cents higher than one year ago.

AAA said gas prices shot up 9.8 cents per gallon in just the last week, as crude oil prices also increased to near $64 per barrel. AAA said most of the increase in gasoline prices can be traced to higher prices for both crude oil and wholesale gasoline.

Unfortunately motorists that were feeling good about gasoline prices falling in December, now face the prospect of higher prices in the new year, AAA said. Although 2006 prices may not revisit the highs reached after Hurricane Katrina, wise consumers will begin budgeting now for higher fuel costs in 2006. This is because prices typically increase in the Spring with the start of seasonal refinery maintenance, and even a modest series of price increases could easily take the price of gasoline near $2.50 per gallon later this year, AAA said.

Statewide average prices are above $2.00 in every state with Hawaii having the highest price in the nation at $2.695 per gallon. States in the Mid-Atlantic and Northeast regions have the next highest average prices. In New York the price is $2.534 today. In West Virgina the price is $2.445 and in Connecticut gasoline is averaging $2.437. Gasoline prices in California, which are often among the nation’s highest, are averaging $2.356.

The lowest state-wide average gasoline prices in the nation are in Utah at $2.082 per gallon, followed by Idaho at $2.134 per gallon, and Wyoming at $2.149.

Nationwide, the price of self-serve, mid-grade gasoline averages $2.465 per gallon, an increase from $2.304 per gallon in the middle of last month, and up from $1.881 one year ago. Self-serve premium averages $2.554 per gallon, up from $2.338 per gallon one month ago and $1.950 higher than one year ago.

The national average prices for self-serve regular unleaded gasoline for AAA’s mid-January survey for the last five years are: 2005, $2.276; 2004, $1.840; 2003, $1.558; 2002, $1.346; and 2001, $1.449.

AAA’s Fuel Gauge Report is based on data from Oil Price Information Service, the nation’s most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.

As the nation’s largest motoring and leisure travel organization, AAA provides nearly 49 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com.

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