It’s a common story: a big company with some degree of government ownership finds itself needing to set gasoline and diesel prices on the basis of politics rather than just economics, and has a heap of trouble as a result. Brazil’s Petrobras is the latest, as correspondent Dom Phillips discusses in this week’s Oilgram News column, Petrodollars.
Posts Tagged ‘gasoline’
By News Desk | December 16, 2013 12:01 AM Comments (0)
By News Desk | November 6, 2013 04:09 PM Comments (0)
US refined product inventories sank 8.7 million barrels the week ending November 1 as demand for gasoline and distillates jumped, data released by the US Energy Information Administration showed today. The data appeared bullish for NYMEX RBOB futures, as the most significant draw in gasoline stocks was on the US Atlantic Coast — home of the New York delivery point for RBOB. You can read out analysis here.
By John Kingston | November 3, 2013 12:09 PM Comments (0)
There were a pair of news items over the past days that could be at least mildly indicative of two economic theorems: demand elasticity and Jevon’s Pardox.
Companies selling cars in the US reported their October sales Friday. Reviewing them, it’s hard not to miss the fact that the deeply-held view that Americans are turning away from bigger cars may be taking a hit from the sliding price of gasoline.
By News Desk | October 2, 2013 05:47 PM Comments (0)
US crude inventories jumped 5.47 million barrels last week as refiners, particularly on the Gulf Coast, reduced runs, data released by the US Energy Information Administration showed Wednesday. US crude imports climbed, although the increases were seen on the US Atlantic Coast and West Coast. Despite the drop in refinery operations, the US remained well-supplied with gasoline. US gasoline stocks climbed 3.5 million barrels, putting inventories nearly 8% above the five-year average. Read the Platts analysis.
By Jeffrey Bair | September 26, 2013 12:01 AM Comments (4)
OK, raise your hand if you have done one of these things, ever:
By Alison Ciaccio | September 11, 2013 11:01 AM Comments (0)
US gasoline prices soared at the end of August, pushing to well over $3.10/gal in the futures market and more than $3.64/gal at the pump, as the US appeared poised to strike Syria. But a bid by Russian President Vladimir Putin to take custody of embattled Syrian President Bashar Assad’s chemical weapons has taken the heat off of oil futures as well as prices at the pump.
The intensity surrounding Syria and implications that a military strike could spill over to other, larger oil-producing countries, added a premium of risk to oil prices, which also translated to higher retail gasoline prices.
By Janet McGurty | August 22, 2013 06:42 AM Comments (3)
US refiners are leaping more into physical biofuels blending, even as the US government appears to be pondering a cut in renewables mandates.
This month PBF Energy and Alon USA both told analysts they had new plans to blend renewables like ethanol and biodiesel with gasoline and petroleum-based diesel as a way to fend off high prices for renewable credits, known as RINs.
Refiners are relying more on RINs as growing renewable mandates fail to match weaker-than-expected gasoline demand. Those that can physically blend renewables into fuel like gasoline and diesel can cut their RINs purchases and save money by entering into long-term contracts with biofuels producers at better prices.
By News Desk | August 21, 2013 03:41 PM Comments (0)
By News Desk | August 19, 2013 12:01 AM Comments (0)
Turning algae into a distillate-type fuel has long been one prospective area of renewable liquid fuels; it’s even the renewable project where ExxonMobil has been the most aggressive in its investments. Turning algae into a crude-like substance is the target of another company, as Herman Wang discusses in this week’s Oilgram News column, New Frontiers.
By John Kingston | July 23, 2013 04:18 PM Comments (2)
It must be great to be the AAA. Everybody in the US ethanol business wants you to like them.
That’s why a war of words erupted over the past few days as to whether the AAA, the country’s leading group representing motorists, likes ethanol or hates it. The idea that the AAA is not a fan of at least one usage of ethanol is an easy conclusion to reach, given that the organization late last year made it quite clear that it had issues with E15, gasoline with a 15% ethanol blend.