Government, Business, Safety, Fuel

Gasoline Rises to Five-Month High on US Gulf Hurricane Threat

Gasoline futures set a five-month high in anticipation of Hurricane Laura. (Andrey Rudakov/Bloomberg News)

Crude and gasoline futures both climbed to levels not seen since before the pandemic as Hurricane Laura rattled toward a key stretch of the U.S. Gulf Coast that is home to the nation’s greatest concentration of refining capacity.

Andres Guerra Luz | Bloomberg News
August 25, 2020
Government, Business, Fuel, Logistics

US Seizes Four Iranian Tankers Carrying Fuel to Venezuela

The Iranian tanker Grace 1. The Iranian tanker Grace 1 sits silhouetted off the coast of Gibraltar in July 2019. (Bloomberg News)

The U.S. seized four tankers carrying Iranian gasoline bound for Venezuela in an unprecedented move by the Trump administration that carries the potential to destabilize global oil shipments if Iran retaliates.

August 14, 2020
Government, Business, Fuel

Gasoline’s Demand Rebound Fades at Height of US Driving Season

Gasoline Luke Sharrett/Bloomberg News

A sharp rebound in gasoline consumption that helped to drive oil prices higher appears to be running out of steam, a development that should be a cause for concern across the petroleum industry.

July 28, 2020
Business, Fuel

Gig Economy Drivers Are Fueling a US Gasoline Demand Rebound

Gig economy drivers are fueling the U.S. gasoline rebound. Gig economy drivers are fueling the U.S. gasoline rebound. (Luke Sharrett/Bloomberg News)

Gig-economy deliveries for groceries, alcohol and other goods look to be driving a nascent recovery in U.S. gasoline demand after the lowest plunge in almost 30 years.

May 19, 2020
Business, Fuel

Seven & i Scraps $22 Billion Plan for Marathon’s Speedway Gas Stations

Speedway A sign displays fuel pricing at a Marathon Petroleum Corp. Speedway gas station in Huntington, W.Va. (Luke Sharrett/Bloomberg)

Seven & i Holdings Co. scrapped plans to acquire Marathon Petroleum Corp.’s Speedway gas stations for $22 billion, according to sources familiar with the matter, ending a deal that would have been among the world’s biggest this year.

March 5, 2020
Government, Business, Fuel

Consumer Prices Up 0.4% in October; Gasoline Prices Surge

gas pump Gene J. Puskar/AP

WASHINGTON — Surging gasoline prices caused U.S. consumer prices to rise last month at the fastest pace since March.

Paul Wiseman | Associated Press
November 13, 2019
Government, Business, Fuel, Logistics

US Exporters Rely on Trucks to Meet Mexico’s Fuel Demand

Tank truck A tank truck carrying gasoline. (Christina Mendenhall/Bloomberg News)

U.S. exporters are increasingly relying on trucks to get fuel into Mexico as the country’s gasoline production sags and infrastructure constraints limit shipments from one coast to the other.

September 17, 2019
Government, Business, Fuel

Diesel Drops by 1¢ to $3.034 a Gallon

Driver with diesel pump in hand Diesel costs 19.2 cents less than it did at this time in 2018. (Daniel Acker/Bloomberg News)

The U.S. average retail price of diesel dropped by 1 cent to $3.034 a gallon, the Department of Energy reported July 29.

Jim Stinson | Staff Reporter
July 29, 2019
Government, Business, Fuel

Diesel Price Average Dips 0.1¢ to $3.042 a Gallon

Diesel fuel gauge Diesel costs 19.4 cents less than it did a year ago when it was $2.848, DOE said. (Getty Images)

The U.S. average retail price of diesel dropped 0.1 cent to $3.042 a gallon, the Department of Energy reported July 1. Crude oil prices remained near $58 a barrel after touching $60 earlier in the day.

Roger Gilroy | Senior Reporter
July 1, 2019
Government, Business, Fuel

US Gasoline Traders Would Rather Export Than Ship to New York

Man pumping gas Luke Sharrett/Bloomberg News

The busiest U.S. fuel pipeline is running below capacity, as Gulf Coast refiners get fatter margins exporting to Latin America than shipping to New York.

Jeffrey Bair | Bloomberg News
May 16, 2019