Gasoline

Auto Added by WPeMatico

Investors Bet on Further Rise in U.S. Gasoline Prices: John Kemp

Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months. U.S. gasoline has emerged as the most attractive part of the petroleum complex for investors betting prices will rise further this year in …

Investors Bet on Further Rise in U.S. Gasoline Prices: John Kemp Read More »

India’s Fuel Demand Hits New FY Record, up About 5%

(Reuters) – India’s fuel consumption fell 0.6% year-on-year in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales. Total consumption, a proxy for oil demand, totalled 21.09 million metric tons (4.99 million barrels per day) in March, down from 21.22 million tons (5.02 …

India’s Fuel Demand Hits New FY Record, up About 5% Read More »

US Pump Prices Set to Jump as Refinery Outages Nip Supply, Analysts Say

U.S. motorists are likely to see gasoline prices turn sharply higher in the coming weeks as major refinery outages have cut supplies ahead of a seasonal jump in demand, analysts said. The national average price for a gallon of gasoline has increased more than 9% from the start of the year to hover around $3.40 …

US Pump Prices Set to Jump as Refinery Outages Nip Supply, Analysts Say Read More »

U.S. Gasoline Stockpiles Slump More Than Forecast on Higher Demand – EIA

U.S. crude oil stockpiles fell unexpectedly last week while gasoline inventories slumped as demand for the motor fuel rose even as refiners ramped up activity after maintenance and outages, the Energy Information Administration (EIA) said on Wednesday. After six straight weeks of builds, crude inventories fell by 1.5 million barrels to 447 million barrels in …

U.S. Gasoline Stockpiles Slump More Than Forecast on Higher Demand – EIA Read More »

U.S. Considers Selling Northeast Gasoline Reserve in 2024 in Draft Bill

The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday. The reserve, first established in 2014 after Superstorm Sandy left motorists in the northeastern United States without fuel, is located in New York Harbor, New York, Boston, …

U.S. Considers Selling Northeast Gasoline Reserve in 2024 in Draft Bill Read More »

Russia Bans Gasoline Exports for 6 Months From March 1

Summary Russia to ban gasoline exports from March 1 PM Mishustin has approved the ban Gasoline prices are sensitive ahead of election MOSCOW, Feb 27 (Reuters) – Russia on Tuesday ordered a six-month ban on gasoline exports from March 1 to keep prices stable amid rising demand from consumers and farmers and to allow for …

Russia Bans Gasoline Exports for 6 Months From March 1 Read More »

Biden Administration to Approve E15 Gasoline Expansion Starting in 2025

(Reuters) – The White House will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol, but will push the start date into next year, two sources familiar with discussions said. The decision will likely be bittersweet for the biofuel industry, which wants to expand …

Biden Administration to Approve E15 Gasoline Expansion Starting in 2025 Read More »

Chevron Says California Plays a Risky Game With Climate and Gasoline

Golden State drivers paid highest gas premium in last quarter Refinery renewable fuel conversions reduce overall supply Chevron Corp. warns its home state of California’s climate policies are a “dangerous game” that risk causing gasoline price spikes and shortages. The premium California drivers pay for gasoline over the national average is likely to rise significantly if …

Chevron Says California Plays a Risky Game With Climate and Gasoline Read More »

Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices

Reuters (Reuters) – Valero Energy reported a fall in quarterly profit on Thursday as a slowdown in fuel demand hurt prices, kicking off earnings for U.S. refiners on a dour note. Weaker economic activity and an increase in global refining capacity last year pulled back refining profits from record heights touched in 2022, when disruptions to …

Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices Read More »

Gas Station Owner Sunoco to Buy NuStar Energy for $7.3 Billion

Move comes after Sunoco sold convenience stores to 7-Eleven Deal would add crude oil transportation and storage for Sunoco Sunoco LP, a US gas station owner, agreed to acquire pipeline and fuel storage company NuStar Energy LP for about $7.3 billion in a move to diversify its business and buy up a key part of its supply …

Gas Station Owner Sunoco to Buy NuStar Energy for $7.3 Billion Read More »