xcel
02-19-2009, 09:01 PM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Broken record time but for the third straight week... (cleanmpg.com/forums/showthread.php?p=189175)
http://www.cleanmpg.com/photos/data/501/1_969_per_gallon.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – Feb. 19, 2009
With the financial markets and residential home prices hitting new multi-year and in some cases, decade long lows, unemployment rising to the highest point since the millennium, multiple states on the brink of default and many auto manufacturers on the brink of bankruptcy, fuel costs for the consumer are still inexplicably rising.
Gasoline
According to a government report, for the third week in a row, gasoline has risen. This week, the nationwide average price for a gallon of regular unleaded rose 3.8 cents to $1.96.
Although prices rose in all regions of the country, the average price in the Rocky Mountains remained the lowest in the Nation at $1.82. The West coast once again was hit with the highest regional price at $2.24 per gallon with California taking the brunt as a gallon of liquid gold jumped 7.6 cents to $2.29 per gallon.
Diesel
Heading in the opposite direction, diesel fuel fell for the fifth consecutive week, with the national average price sliding 3.3 cents to $2.19 per gallon.
The lowest average price of any region once again occurred on the Gulf Coast with a gallon of diesel sliding 2.3 cents to $2.13 per. The West Coast had the highest regional price at $2.28 per gallon. In California, diesel slipped 0.7 cents to $2.26 per gallon.
Residential Home Heating Oil
Given the similarity between Home Heating oil and low sulfur diesel, Residential heating oil prices also fell for the fifth consecutive week. The average price for a gallon of residential heating oil fell 5.1 cents to $2.30. Wholesale heating oil prices decreased 7.0 cents per gallon to $140.5, lower by $1.33 per gallon compared to the same period a year ago.
Crude Oil
This week, nationwide crude oil stocks peaked at just over 350 million barrels. While crude oil stocks are still holding well above the seasonal norm, total crude stocks fell unexpectedly by 0.2 million barrels. This was in fact the first decline in over 2-months. The abrupt and unexpected reversal of recent trends pushed West Texas Intermediate (WTI) for March delivery up $4.86 to end at $39.48 a barrel on the New York Mercantile Exchange.
"With gasoline prices two-thirds of last year at the pump it isn't a big surprise to see us using more gasoline even though many are losing jobs," said James Williams, an economist at energy research firm WTRG Economics. "There is no way to read this report that isn't bullish."
http://www.cleanmpg.com/photos/data/501/1_969_per_gallon.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – Feb. 19, 2009
With the financial markets and residential home prices hitting new multi-year and in some cases, decade long lows, unemployment rising to the highest point since the millennium, multiple states on the brink of default and many auto manufacturers on the brink of bankruptcy, fuel costs for the consumer are still inexplicably rising.
Gasoline
According to a government report, for the third week in a row, gasoline has risen. This week, the nationwide average price for a gallon of regular unleaded rose 3.8 cents to $1.96.
Although prices rose in all regions of the country, the average price in the Rocky Mountains remained the lowest in the Nation at $1.82. The West coast once again was hit with the highest regional price at $2.24 per gallon with California taking the brunt as a gallon of liquid gold jumped 7.6 cents to $2.29 per gallon.
Diesel
Heading in the opposite direction, diesel fuel fell for the fifth consecutive week, with the national average price sliding 3.3 cents to $2.19 per gallon.
The lowest average price of any region once again occurred on the Gulf Coast with a gallon of diesel sliding 2.3 cents to $2.13 per. The West Coast had the highest regional price at $2.28 per gallon. In California, diesel slipped 0.7 cents to $2.26 per gallon.
Residential Home Heating Oil
Given the similarity between Home Heating oil and low sulfur diesel, Residential heating oil prices also fell for the fifth consecutive week. The average price for a gallon of residential heating oil fell 5.1 cents to $2.30. Wholesale heating oil prices decreased 7.0 cents per gallon to $140.5, lower by $1.33 per gallon compared to the same period a year ago.
Crude Oil
This week, nationwide crude oil stocks peaked at just over 350 million barrels. While crude oil stocks are still holding well above the seasonal norm, total crude stocks fell unexpectedly by 0.2 million barrels. This was in fact the first decline in over 2-months. The abrupt and unexpected reversal of recent trends pushed West Texas Intermediate (WTI) for March delivery up $4.86 to end at $39.48 a barrel on the New York Mercantile Exchange.
"With gasoline prices two-thirds of last year at the pump it isn't a big surprise to see us using more gasoline even though many are losing jobs," said James Williams, an economist at energy research firm WTRG Economics. "There is no way to read this report that isn't bullish."