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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oilprices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “
Gasoline is one of the products refined from crude oil. Thus, the price of crude oil should have a strong influence on the price of gasoline. However, the retail price of gasoline includes other costs as well. Gasolineprices are also influenced by gasoline demand relative to gasoline supply.
The PODA model is a machine-learning-based model to project the US gasoline demand using COVID-19 pandemic data, government policies and demographic information. The Motor Gasoline Demand Estimation Module quantifies motor gasoline demands due to the changes in travel mobility. —Ou et al.
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
Gasoline sales fell 8.4% (nearly 185 million less gallons) from the previous week for the seven-day period ending 28 November, bringing consumption to the lowest level for a Thanksgiving Week in 23 years, going back to 1997. Northeastern gasoline sales dropped 10.1% —Tom Kloza, executive director, IHS Markit.
China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). China’s crude oil processing has also declined because relatively high crude oilprices are making importing crude oil more expensive.
This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than the costs of gasoline and diesel. The reason is that, in the United States, oil is used to generate less than 1% of electricity.
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.
A team from the University of Tennessee and the National Renewable Energy Laboratory (NREL) has the fuel savings due to fuel economy improvements over the past 43 years amount to approximately two trillion gallons of gasoline. gasoline demand would have put upward pressure on world oilprices.
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 oilprices, but also because the widespread popularity of fuel-efficient vehicles has lowered demand for gasoline.A per liter ($6.65
US gasoline demand this summer is expected to be the lowest in 11 years, while the average summer fuel price is forecast to be at a record level, according to the US Energy Information Administration (EIA). US gasoline consumption is forecast to average almost 8.8 less than 2007’s record summer gasoline demand of 9.4
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
Oilprices are at their lowest levels in four years, and retail gasolineprices are likely to follow--more or less. celebrated its Thanksgiving holiday, oilprices fell 7 percent after OPEC announced it would leave production levels unchanged, according to CNN. The price of WTI crude oil in the U.S.
The price disparity between crude oil and other resources, coupled with the emergence of cheap and abundant shale gas, especially in the United States, is opening up opportunities to produce cheaper gasoline, according to a new report from Lux Research. Among their findings: Methanol-to-gasoline is the cheapest option.
US backlogs of gasoline and distillates also were up, according to the API. Almost all the news flow points to a weaker market,” said one oil analyst , Carsten Fritsch of Commerzbank in Frankfurt. In fact this year’s price plunge hasn’t hurt just the weaker OPEC members. million barrels to 377.4 million barrels.
A sudden drop in miles traveled by car in the US triggered by wide-spread social isolation measures will have immediate ramifications for gasoline demand. IHS Markit analysis finds that US gasoline demand could fall by as much as 4.1 The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1
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). The price for US regular gasoline has fallen 11 weeks in a row to an average $2.55
California gasoline consumption decreased 2.3% January through November 2009, California gasoline consumption declined 1.4% January through November 2009, California gasoline consumption declined 1.4% Gasoline consumption declined 2.3 The average price at the pump for gasoline in California during November 2009 was $3.01
At the current pace of research and development, replacing gasoline and diesel with renewable fuel alternatives could take some 131 years, according to a new University of California, Davis, study using a new sustainability forecasting approach based on market expectations. The forecast was published online 8 Nov.
US refineries produced more gasoline in March 2009—at 9.3 March gasoline deliveries (a measure of demand) were higher—at 9.2 The highest amount of gasoline ever delivered was 9.6 Total March deliveries of all products, including gasoline, distillate, kerosine-jet fuel, and residual fuel, rose 3.5% from a year ago.
China will raise gasoline and diesel benchmark retail prices by 400 yuan (US$58.6) The benchmark retail price for gasoline would increase by 7 percent and the price of diesel by 8 percent, said a statement on the NDRC website. It is the third oilprice adjustment this year.
Consumer gasoline demand, as measured by total motor gasoline deliveries, of 9.3 Reformulated-type gasoline, which is consumed primarily in urban areas, was flat with growth of 0.1% Reformulated-type gasoline, which is consumed primarily in urban areas, was flat with growth of 0.1% from March and 1.1% versus April 2017.
Despite the increases in production, EIA expects the Brent crude oilprice to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). —EIA Administrator Joe DeCarolis. in the United States this summer (June–August) compared with the summer of 2021.
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.,
The oilprice shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil. by Brian J.
US regular retail gasolineprices averaged $2.41 Higher crude oilprices in 2017 contributed to higher gasolineprices. Source: US EIA, Gasoline and Diesel Fuel Update. In 3 of the 10 cities for which EIA collects weekly retail price data, gasolineprices exceeded $3.00/gal
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.
A wild recent day for oilprices demonstrates OPEC’s enduring influence. Oilprices were … Continue Reading OilPrice Fluctuations and the Power of OPEC. Last week Saudi Arabia announced that it will reach $300+ billion in government revenues for 2022.
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.
But in recent weeks, we have seen a rise in oilprices. Nationally, gasolineprices have risen almost a penny per day for the last month. In New England, wholesale heating oilprices have risen almost two pennies per day. What’s going on?
For summer 2017, EIA forecasts motor gasoline consumption to average 9.5 EIA expects that domestic refinery production, including gasoline blendstock output, will be about 20,000 b/d lower this summer than last summer. of total gasoline consumption. For all of 2017, the forecast average price for regular gasoline is $2.39/gal,
America’s dependence on oil ties our national and economic security to a highly-unpredictable, cartel-influenced global oil market. Diversifying the types of vehicles and fuels available to our drivers offers our city protection from often-volatile oilprices and better prepares us for the future.
Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oilprice by 2.5% This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. Despite OPEC+ announcing it would cut crude oil production by 1.2 from its previous forecast. gal and $3.70/gal
The world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 In 2011 and 2012, higher oilprices and increased fuel efficiency of light-duty vehicles contributed to reduced US consumption. Year-on-year changes in petroleum consumption by region.
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oilprices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
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.
Resulting gases are passed over catalysts, causing reactions that separate oxygen from carbon molecules, making the carbon molecules high in energy content, similar to gasoline molecules. This break-even crude oilprice compares favorably with the literature estimated prices of fuels from alternate biochemical and thermochemical routes.
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.
US regular gasoline retail prices averaged $2.78 In June, monthly retail gasolineprices averaged $3.06/gal, 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. per gallon (gal) in 1H21, compared with an average of $2.20/gal
Of the £44, £16 (US$24) is used to buy gasoline and diesel and £8.30 (US$12) is spent on insurance. The average price of unleaded gasoline in the UK in January 2013 was 132.7 Diesel prices are a few p higher per liter. Pre-tax, the UK has some of the cheapest road fuel prices in Europe, according to the OFT.)
The increase in demand came as the US continued to sustain world-leading production, which continues to meet virtually all global oil demand growth. Consumer gasoline demand, measured by total motor gasoline deliveries, was 9.6 compared with July 2018, even as gasolineprices were 3.6% from June and 0.4%
Just three months ago, the average gas price crossed 4$ a gallon. Now, oilprices have plummeted to their lowest level this year in response to the Standard & Poor's U.S. We'll continue to be whipsawed by changes in oilprices, reflected in the price per gallon we pay for gasoline.
the global gasoline market will reach an estimated 375 billion gallons per year (BGPY) in 2021, while demand for diesel in ground transportation markets will reach at least 427 BGPY. Key trends identified in the report include: Oilprices are expected to climb over the next decade, driving increased interest in.
A new study by the Peterson Institute for International Economics concluded that the Kerry-Lieberman “American Power Act”—the energy and climate change legislation recently introduced in the Senate ( earlier post )—would reduced US oil imports by 33-40% below current levels and by 9-19% below projected business-as-usual levels by 2030.
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