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The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.
In an interview with Platt’s Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases.
“I’m predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices,” he said. Get the full story »
The national average for a gallon of regular gasoline topped $3 a gallon on Thursday, just in time for the holiday driving trips millions of Americans will take this week. Get the full story »
Filling up at the pump for Thanksgiving weekend will likely cost Americans the most in three years. After that, analysts say, prices should drop as weak winter demand takes effect.
Gasoline prices reached $2.89 a gallon earlier this week and appeared set to eclipse the high for the year of $2.92. A number of factors, from rising oil prices to lower U.S. production due to seasonal refinery maintenance, contributed to a 5-cent increase in retail gas prices in the past month.
There is good news at the gas pump, as Americans get ready to fill their cars, RVs and boats for the Labor Day weekend.
The national average price for gasoline has been falling steadily this month, reaching $2.678 for a gallon of unleaded on Monday, according to AAA, Wright Express and Oil Price Information Service. That’s about 6 cents a gallon less than a month ago and 7 cents less than it was on the Friday before the July Fourth weekend.
Prices at gasoline stations across the country should keep dropping as travelers hit the road for late-summer trips.
The national average pump price has declined for 17 days in a row, reaching $2.682 for a gallon of unleaded regular gasoline on Friday, according to AAA, Wright Express and Oil Price Information Service. The price is 6.3 cents lower than a month ago and about 6.2 cents higher than it was last year at this time.
The number of Americans expected to travel during the Labor Day weekend will rise 9.9 percent from 2009 as some aspects of the U.S. economy show signs of improvement, travel and auto group AAA said Wednesday.
Close to 34.4 million travelers will venture at least 50 miles from home, up from 31.3 million last year when the recession curbed holiday plans, AAA forecast. Get the full story »
Gasoline pump prices continued to fall on Monday, offering a bright spot for drivers watching their wallets in the uncertain economy. The average retail price for a gallon of unleaded regular was $2.708 a gallon Monday, according to AAA, Wright Express and Oil Price Information Service. It has dropped about 4.2 cents in the past week but is around 8.1 cents more than a year ago.
Well into July, gas prices continue on their trend this summer of holding steady as prices continue to be well under $3 per gallon.
AAA Chicago’s most recent Fuel Gauge Report estimates that in Illinois, regular unleaded gasoline has decreased 4 cents during the past month, forecasting an average cost of $2.79 per gallon for the month of July, which is 18 cents higher per gallon than last year.
U.S. gasoline prices fell for the third week in a row, reaching $2.72 a gallon, the Energy Department said on Monday. Get the full story »
U.S. gasoline prices fell to the lowest level in three weeks due to lower crude oil costs, the Energy Department said Tuesday.
The national price for regular unleaded gasoline dropped 3.1 cents over the last week to $2.73 a gallon, the department’s Energy Information Administration said in its weekly survey of service stations.
While drivers are still paying 11 cents more a gallon than a year ago, the pump price is down sharply from the record $4.11 reached two years ago. Get the full story »
The roads and airports will be more crowded during the July 4 weekend, but travelers will be spending less money.
AAA Chicago projects that the number of Americans traveling the July 4 weekend will rise 17.1 percent from 2009, with 34.9 million travelers taking a trip at least 50 miles away from home.In Illinois, nearly 2 million people will travel for the holiday weekend, defined as July 1 to July 5. That’s a 19.7 percent increase over 2009. Get the full story »
Tribune staff report | Fuel prices have decreased in Illinois and
northern Indiana during the past month amid declining oil prices and the strengthening of the U.S. dollar.
AAA Chicago’s Fuel Gauge Report estimates that in Illinois, regular unleaded gasoline has
decreased 15 cents during the past month, forecasting an average cost
of $2.69 per gallon for the month of February, which is still $.78
higher per gallon than last year.
