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The US Energy Information Administration (EIA) forecasts that retail gasolineprices will average $3.84 per gallon this summer driving season—April through September—compared with last summer’s average price of $3.06/gal. US gasoline and diesel consumption continue to remain below their 2019 averages.
The collapse in world oilprices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60
The average US household will spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years, according to projections by the US Energy Information Administration (EIA). Gasolineprices are forecast to go even lower in 2015.
US regular retail gasolineprices averaged $2.72 However, a rapid price decline beginning in October led to US average regular gasolineprices ending the year lower than they began for the first time since 2015, according to the US Energy Information Administration (EIA). gal at least once in 2018. gal to $2.91/gal
Add to that a new report from the US government’s Energy Information Administration (EIA), which also cut its 2015 forecast for growth in global oil demand by 240,000 barrels per day, down to 880,000 barrels per day. For 2014, the EIA expects demand will be about 960,000 barrels per day. And yet on Nov. million barrels to 377.4
Lest we be too quick to forget whence we came, America is now 9-months into lower gasolineprices, 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.,
Lower crude oilprices 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.
The Sandia researchers showed that the key to meeting the RFS2 targets is the fuel price differential between E85 fuel and conventional gasoline (low ethanol blends), so that E85 owners refuel with E85 whenever possible. The model begins in 2010 with 220 million LDV spark-ignition (gasoline) vehicles, 9.7 —Westbrook et al.
Second, PHEVs with smaller battery packs are more likely to deliver emissions benefits and reduced gasoline consumption at lower lifetime cost compared to those with large battery packs in the short term. No EDV deployment occurs with high battery costs, low oilprices, and no CO 2 policy.
US regular gasoline retail prices averaged $2.78 In June, monthly retail gasolineprices averaged $3.06/gal, gal since October 2014 (in nominal terms). EIA forecasts regular-grade gasolineprices to average $2.92/gal EIA then expect inventories to rise by almost 0.5 million b/d in 2022. gal in 1H20.
The current plunge in oilprices will likely negatively affect plug-in and hybrid vehicle sales in the short term; automakers such as BMW are already warning of lower sales of plug-in vehicles given the market context. Anticipated price of oil and forecast plug-in sales. Lux on the price of oil.
Since late 2014, the production of crude oil has outpaced demand, triggering a sustained collapse in world oilprices, which have remained mostly below $50 per barrel. As a result, these low prices have put pressure on the market for natural gas vehicles (NGVs) and the corresponding refueling infrastructure.
The main effect of this change on the forecasted STEO liquid fuels market balances is that the higher consumption in 2014 raises the baseline to which the STEO forecast benchmarks. Methanol or its derivative products can be added to fuels such as gasoline and liquefied petroleum gases (LPG).
The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oilprices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oilprices as the world production surplus continues. strong>Figure 3.
AEO2015 presents updated projections for US energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High OilPrice, and High Oil and Gas Resource) that reflect updated scenarios for future crude oilprices. trillion cubic feet (Tcf) in the Low OilPrice case to 13.1
In two other scenarios considered, a high oilprice scenario (using EIA projections) and a battery swap operator-subsidzied scenario, EV new vehicle sales penetration reaches 85% and 86% respectively by 2030. lower on a per-mile basis than gasoline-powered cars, depending on the future price of oil.
This would be almost 90 times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014. According to Salim Morsy, senior analyst and author of the study, the central forecast is based on the crude oilprice recovering to $50/barrel, and then trending back up to $70 or higher by 2040.
Under their optimistic scenario (OPT)—which is based on the assumption that EVs are market-competitive with gasoline vehicles, in particular after 2025—they find 15% and 47% adoption of battery electric vehicles (BEVs) in 2030 and 2050, respectively.
“Betting on Science – Disruptive Technologies in Transport Fuels” selected 12 innovations in electrification and genetically modified biofuels, as well as existing fuel sources that will have the most immediate impact on emissions and on the gasoline and diesel markets. by 2014) and also examines different global markets.
over 2014, continuing an unbroken five-year run of sales recovery and growth from the low point set in the depth of the Great Recession in 2009. China will lead the sector’s volume growth, with particular strength in SUVs, though IHS expects the market to slow from 2014. million, an increase of 2.4% million units. million units.
Reflecting slow growth in travel and accelerated vehicle efficiency improvements, US light-duty vehicle (LDV, cars and light trucks) energy use will decline sharply between 2012 and 2040, according to the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2014 (AEO2014) Reference case released today. Tcf in 2012 to 2.1
Winterkorn introduced Future Tracks at the Geneva Show in 2014, saying that over the next few years, the automotive industry will face one of the greatest upheavals since the invention of the automobile. Oil will not be as cheap as it is at the moment for ever. The CO 2 limits apply irrespective of fuel prices. —Prof.
It is estimated that approximately 180,000 bpd of Canadian crude oil is already traveling by rail, and industry investments in rail are increasing. Rail loading facilities for the Canadian oil sands are estimated to have a capacity of approximately 700,000 bpd of crude oil, and by the end of 2014 this will likely increase to more than 1.1
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