for Gasoline prices
The Saudis continue shifting its goals for where oil prices should be. The Kingdom is now signaling that it wants to increase prices to $80-$100 per barrel in order to enhance the valuation for its planned initial public offering.
Factors other than ridesharing carry more weight behind the surge in VMT. Lower pump prices, economic growth, and rising household income are underpinning increased travel.
Like a scene out of the movie Zoolander, fights have occurred at gasoline stations in hurricane-affected areas.
Outages from Hurricane Harvey and the subsequent price volatility provide a reminder that despite the enormous changes on the U.S. supply side over the past decade, the country is still dealing with energy security vulnerabilities.
Under the border-adjustment tax, U.S. oil would be exempted from taxes if it is exported abroad, making it much more competitive. The tax, however, will have difficulty passing in Congress since it would also likely raise pump prices.
Although gasoline prices remain low and total auto sales are down, consumers have significantly increased their purchases of electric vehicles this year.
Saudi Arabia's reforms are hugely important because the country's stability hinges on the robustness and reliability of the welfare state, which citizens hold as their birthright.
Although the EPA is simply conforming to the reality of the marketplace with its new biofuel blending targets, it is getting blasted by a number of industry groups.
A J.P. Morgan Chase study shows that when gasoline prices fall, Americans, for the most part, do not save the extra money but instead spend it largely on non-essentials and—in some cases—higher-priced gasoline.
With U.S. demand surging and exports on the rise, this summer has been a good time to be a refiner.