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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). Biden said that his administration would restock the reserve when prices are lower.

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MIT/UC Davis professors challenge claims that ethanol production decreased gasoline prices in 2010 and 2011

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Knittel/Smith results for implied gasoline price effects from elimination of ethanol for 2010 using Du/Hayes model and pooled-sample estimates. in 2010 and 2011, respectively. in 2010 and 2011, respectively. t margin for oil refiners. Results from Du/Hayes are indicated by the large square. Click to enlarge.

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Opinion: Consumers winning with low oil prices, for now

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Lest we be too quick to forget whence we came, America is now 9-months into lower gasoline prices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 by Thomas Miller for Oilprice.com. Bernard Weinstein, Ph.D.,

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EIA: US refineries running at record levels; gasoline demand; exports up

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Lower crude oil prices and strong demand for petroleum products, primarily gasoline, both in the United States and globally, have led to favorable margins that encourage refinery investment and high refinery runs. Since May 20, Gulf Coast gasoline crack spreads have averaged 17 cents/gal higher than for distillate crack spreads.

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Nikkei: popularity of fuel-efficient vehicles lowering demand for gasoline in Japan

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The Nikkei reports that the nationwide average price in Japan for regular gasoline was ¥139.8 Prices at the pump are falling in Japan not only due to lower crude oil prices, but also because the widespread popularity of fuel-efficient vehicles has lowered demand for gasoline.A per liter ($6.65

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CMU study finds small battery PHEVs and gasoline hybrids the least-cost policy solution to reducing gasoline consumption

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The federal subsidy significantly favors larger battery packs to a stronger degree than their potential for additional gasoline savings. A 2011 paper by Michalek and colleagues found that strategies to promote adoption of HEVs and PHEVs with small battery packs offer more social benefits (i.e., Peterson and Michalek 2012.

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US petroleum demand drops 5.7% in January on heating oil decline

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in January 2012 compared with January 2011 to just over 18 million barrels per day, according to figures from the American Petroleum Institute (API). Gasoline deliveries slipped 0.2% Consumer demand for gasoline has not recovered from 2007 highs. Supplies for refined products remained ample, with gasoline production of 8.9

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