Page 2 - Gasoline Prices
US pump prices at record high as OPEC+ producers gather for meeting
The OPEC oil cartel and allied countries including major exporter Russia are weighing how much oil to produce as U.S. gasoline prices hit another record high. Thursday's meeting comes amid speculation that the 23-member alliance, known as OPEC+, may consider breaking from its cautious series of increases and agree to pump more oil starting in July amid fears that high energy prices could slow the global economy. Higher oil and gas prices have contributed to the inflation that is plaguing the U.S. and Europe and sapping consumer purchasing power. The group has been adding a steady 432,000 barrels per day each month, under a road map to gradually restore production cuts made during the depths of the pandemic recession in 2020. OPEC, whose de facto leader is Saudi Arabia, has thus far taken the stance that it can't supply more oil to make up for production lost due to sanctions against Russia. That, along with a European Union agreement to end most oil imports from Russia over its ...
 "US pump prices at record high as OPEC+ producers gather for meeting")
India's gasoil, gasoline sales top pre-Covid level on price hike fears
India's gasoline and gasoil sales rose above pre-Covid levels of 2019 in the first half of March, preliminary data released on Wednesday showed
 "India's gasoil, gasoline sales top pre-Covid level on price hike fears")
Rise in demand, Ukraine crisis: Why fuel prices have soared to record highs
Canadians are returning to office after 2 years of pandemic restrictions, and are being confronted by record-high gasoline prices at the pumps, leaving them wondering: Why is gasoline so expensive?
 "Rise in demand, Ukraine crisis: Why fuel prices have soared to record highs")
High gas costs from Ukraine threat pose Joe Biden political risk
With the continuing threat of Russia invading Ukraine, a foreign policy crisis is colliding with one of President Joe Biden's political vulnerabilities: Rising gasoline prices at home
 "High gas costs from Ukraine threat pose Joe Biden political risk")
Explainer - What is happening with United States gasoline prices?
The White House on Tuesday announced plans to release millions of barrels of oil from strategic reserves
 "Explainer - What is happening with United States gasoline prices?")
Fighting gas prices, US decides to release 50 million barrels of oil
The government will begin to move barrels into the market in mid- to late-December
 "Fighting gas prices, US decides to release 50 million barrels of oil")
India state refiners to buy more light crude to boost gasoline output
The move dovetails with an earlier push to reduce India's reliance on Middle Eastcrudes to enhance energy security.
 "India state refiners to buy more light crude to boost gasoline output")
India's gasoline sales jump above pre-pandemic levels, shows initial data
Sales of gasoline rose to 1.03 million tonnes in the first fortnight of July, a jump of about 3.44% over the corresponding 2019 period, preliminary industry data showed on Friday
 "India's gasoline sales jump above pre-pandemic levels, shows initial data")
Joe Biden objects to raising federal gas tax to pay for infrastructure
The White House has made clear that President Joe Biden was opposed to letting the federal gasoline tax rise at the rate of inflation to help pay for an infrastructure package
 "Joe Biden objects to raising federal gas tax to pay for infrastructure")
Oil market's reliance on China shows narrowing options
Platts Analytics sees oil prices struggling to go beyond the mid-$40s/bbl mark by the end of calendar year 2020 (CY20) before creeping up to $50/b by end-2021
 "Oil market's reliance on China shows narrowing options")
US producer prices increase as Harvey boosts gasoline prices
Economists had forecast the PPI gaining 0.4 percent last month and accelerating 2.5 percent from a year ago
 "US producer prices increase as Harvey boosts gasoline prices")