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Gasoline demand growth to slow this year on EV growth in China, U.S. Summary China to make up more than half of global EV sales in 2024, impact gasoline demand European margins to weaken after new Nigeria refinery ups output U.S. gasoline consumption likely to be flat in 2024 -analysts (Reuters) – Global petrol demand …
Gasoline Demand Growth to Slow This Year on EV Growth in China, U.S. Read More »
The cost of gas at the pump is already up 18% this year, but Congress is urging tougher sanctions enforcement. With only six months to go before the election, President Joe Biden’s strategy to lower gasoline prices is in jeopardy. The administration’s soft approach to sanctions on oil from Iran, Russia and Venezuela has been key …
Biden Strategy to Tame Gas Prices Is in Peril as Iran Sanctions Pressure Mounts Read More »
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 »
(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 »
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. 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 »
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 »
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 »
(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 »
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 »
