Posted July 6, 2018
Earlier this week we looked at the summer variation in gasoline prices, due mainly to increased driving as well as fuel specifications that have added to the cost of gasoline. As the 2018 summer driving season approaches its midpoint, let’s check the data on gasoline prices and, separately, take a deeper look at why prices in any one state have tended to be higher (or lower) than the national average.
According to the American Automobile Association, the nationwide average price for regular gasoline was $2.85 per gallon on June 28, a decrease of 12 cents per gallon since May 28.
Remember, gasoline and diesel fuel prices tend to track the price of crude oil, because crude oil currently makes up more than half of the cost to make the fuels. The U.S. Energy Information Administration (EIA) reported that crude oil made up 56 percent of the price of gasoline in May, the agency’s most recent analysis.
Posted July 5, 2018
Every summer Americans take to the highways. It’s a big country with lots to see, and reliable fuels are fundamental to the uniquely American freedom to range far and wide. In 2017, Americans traveled nearly 8 trillion miles from April to August. As we load our cars with sports gear, picnic baskets and beach chairs, some tips from API downstream experts to help those fuels take you as far as possible – safely, all summer long.
Posted May 31, 2018
In a recently released report, the U.N. Conference on Trade and Development digs into the factors that have made the U.S. energy dominance possible, and – specifically – the role of natural gas in energy dominance.
Posted May 24, 2018
Let’s add some needed perspective in the ongoing discussion of U.S. gasoline prices – even as Washington politicians try to exploit them for their own agendas. The latest political play: Senate Democrats want the president to cajole other nations into producing more oil to increase supply in hopes of moderating things at the pump.
Certainly, increasing global crude supply is important, because in the past doing so has put downward pressure on the cost of crude, the No. 1 factor driving gasoline prices.But, since we’ve seen how much lower and less volatile prices have been the past four years, thanks to the growth of U.S. oil production, wouldn’t it be smarter to encourage greater oil production here at home? Senate Energy Committee Chairwoman Lisa Murkowski
Posted April 25, 2018
There are plenty of statistics out there to measure the scope of U.S. natural gas production. The United States is the No. 1 natural gas producer in the world, producing 78.9 billion cubic feet per day in 2017. Exports of liquefied natural gas (LNG) nearly quadrupled in 2017, making the U.S. a net natural gas exporter for the first time in nearly 60 years and supporting hundreds of thousands of jobs across the nation.
The numbers are impressive, but the economic and climate benefits they make possible are even more remarkable. In a new series of short videos, we’ve boiled down the natural gas advantage into five words.
Posted April 3, 2018
Ohio-based utility FirstEnergy’s efforts to land a bailout from consumers have crossed over from the problematic to the absurd.
With the Federal Energy Regulatory Commission (FERC) in January rejecting a bid to alter the electricity marketplace in ways that would favor some generating facilities over others, FirstEnergy last week launched an end-run around FERC, asking U.S. Energy Secretary Rick Perry to basically do what FERC wouldn’t do – bail out up to 85 generating units, all coal and nuclear – claiming there’s an emergency with the reliability of the electricity grid.To which the regional power grid operator, PJM Interconnection, quite accurately, responded: What emergency?
Posted April 2, 2018
The summer driving season is arriving, so it’s a good time to take stock of recent market dynamics that have raised per-barrel costs for crude oil and consequently gasoline and diesel fuel.Nationwide, the American Automobile Association (AAA) reports that average prices currently are $2.64 per gallon for gasoline (up from $2.54 a month ago) and $2.95 per gallon for diesel fuel (unchanged from last month). While there is nothing particularly special about these figures from an economic perspective, consumers take notice when fuel prices are on the rise. Let’s look at the factors that have affected pump prices in recent years.
Posted March 15, 2018
By now I hope you’ve seen API’s new national TV ad that is air during NCAA basketball tournament games, touting the benefits of U.S. natural gas. The ad’s message is as clear as America’s air: Thanks to increasing use of clean, affordable natural gas, U.S. emissions of carbon dioxide from electricity generation – a major source of the greenhouse gas – are at their lowest level in 25 years. That’s an amazing development for a couple reasons.
Posted February 28, 2018
Posted February 8, 2018
As a nation, we have a tremendous opportunity to safely and efficiently harness our offshore natural gas and oil reserves. Here are three important points that should be prominent during the public hearing phase of the process to develop the next federal offshore leasing plan.