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

Energy Topics & Technology, Gasoline, Latest, US News / By

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 …

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

Energy Topics & Technology, Gasoline, Latest, US News / By

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, …

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Russia Bans Gasoline Exports for 6 Months From March 1

CDN and International News, Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil / By

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 …

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Biden Administration to Approve E15 Gasoline Expansion Starting in 2025

Biomass, Energy Topics & Technology, Gasoline, Latest, Renewable Energy, US News / By

(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 …

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Chevron Says California Plays a Risky Game With Climate and Gasoline

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, US News / By

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 …

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Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices

Energy Topics & Technology, Gasoline, Latest, Refineries, US News / By

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 …

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

Energy Topics & Technology, Gasoline, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

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 …

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Oil Consumption and Prices Revert to Trend – John Kemp

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Natural Gas, Oil, US News / By

By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …

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