fuel prices

Business, Fuel

Diesel Profits Near Record With Supplies Dwindling Into Winter

truck being filled with diesel A driver fills the tank of his truck with diesel. (Mark Renders/Bloomberg News)

Diesel supplies are so tight heading into winter that profits for producing the heating and trucking fuel are nearing a record high.

October 7, 2022
Government, Business

Diesel Sheds 5.3¢ to Reach $4.836 a Gallon

Fuel delivered to a service station (JohnnyH5/Getty Images)

The national average price for diesel fell another 5.3 cents Oct. 3 to reach $4.836 a gallon, according to the Energy Information Administration.

Roger Gilroy | Senior Reporter
October 3, 2022
Business, Fuel

Gasoline’s 98-Day Slide Ends With Modest Price Hike

A fuel nozzle in a car at a Chevron station in Pinole, Calif. A fuel nozzle in a car at a Chevron station in Pinole, Calif. (David Paul Morris/Bloomberg News)

Retail gasoline prices in the U.S. have posted their first increase — albeit very modestly — after a 98-day streak of declines, suggesting consumers won’t get much more relief at the pump. Prices now stand at $3.681 a gallon, according to auto club AAA.

Ilena Peng | Bloomberg News
September 21, 2022
Government, Business, Fuel

Oil Reserves Could Be Tapped to Head Off Winter Crisis

President Joe Biden President Joe Biden by Samuel Corum/Bloomberg News

Officials within President Joe Biden’s administration are hunting for ways to head off a feared spike in oil prices later this year, including the possibility of an additional release from the nation’s emergency crude reserves.

Saleha Mohsin | Bloomberg News
September 8, 2022
Government, Business, Fuel

Biden Administration Urges Fuel Export Cuts to Restock Northeast

President Joe Biden

The Biden administration is warning refiners that it may take “emergency measures” to address fuel exports as stockpiles of gasoline and diesel fuel remain near historically low levels in the Northeast.

Ari Natter | Bloomberg News
August 26, 2022
Government, Business, Fuel

Diesel Pinch Looms as World Seeks Relief From Pricey Natural Gas

A diesel fuel pump sits in a cradle at a gas station in Tiskilwa, Ill. A diesel fuel pump sits in a cradle at a gas station in Tiskilwa, Ill. (Daniel Acker/Bloomberg News)

The global diesel market looks set to get even tighter as power generators and industrial users seek relief from surging natural gas prices.

August 26, 2022
Government, Business, Fuel

Gas Prices Fall for 70 Straight Days

gas fillup Luke Sharrett/Bloomberg News

Gasoline prices in the U.S. have fallen for 70 days straight, the longest down streak since January 2015.

August 23, 2022
Government, Business, Fuel

OPEC+ Boosts Oil Output by Slower Pace Than Previous Months

OPEC headquarters in Vienna, Austria OPEC headquarters in Vienna, Austria. (Lisa Leutner/Associated Press)

The OPEC oil cartel and its allies decided Aug. 3 to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia’s war in Ukraine.

Cathy Bussewitz | Associated Press
August 3, 2022
Government, Business, Fuel

White House Expects More Saudi Oil After Biden’s Mideast Trip

President Biden greets Saudi Crown Prince Mohammed bin Salman President Biden greets Saudi Crown Prince Mohammed bin Salman with a fist bump after his arrival in Jeddah, Saudi Arabia, July 15. (Bandar Aljaloud/Saudi Royal Palace via AP)

The White House said it expects further oil supply increases from Saudi Arabia after President Joe Biden met with the kingdom’s rulers.

July 15, 2022
Government, Business, Fuel

The World Can’t Get Enough of US Diesel as Exports Surge

Chart showing volume of U.S. diesel exports

The U.S. is exporting diesel at the fastest ever rate as the global market’s thirst for fuel remains insatiable.

Chunzi Xu | Bloomberg News
July 15, 2022