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U.S. Gas Prices Rising Going Into Labor Day

CleanTechnica EVs

On the Monday before the Labor Day weekend, August 28, 2023, the retail price of regular gasoline averaged $3.81 Over the past five weeks, oil production cuts by Saudi Arabia, low U.S. gasoline inventories, and announced refinery maintenance in the Northeast have increased the regular gasoline retail price […]

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Oil Price Fluctuations and the Power of OPEC

Energy Institute at HAAS

A wild recent day for oil prices demonstrates OPEC’s enduring influence. Last week Saudi Arabia announced that it will reach $300+ billion in government revenues for 2022. Oil prices were … Continue Reading Oil Price Fluctuations and the Power of OPEC.

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Baker Institute team says fossil fuel subsidies need global reform

Green Car Congress

of GDP in China to nearly 6% of GDP in Saudi Arabia, where, despite two cycles of price hikes, 60% of the cost of energy products and services continued to be borne by the state. Total subsidies in G20 countries that retain state-administered prices on fossil fuels. Costs ranged from a low of 0.3% Source: Baker Institute.

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Saudis Expand Price War Downstream

Green Car Congress

In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. Saudis have moved into the product business in a big way,” said Fereidun Fesharaki of FGE Energy. How will Saudi Arabia Capture Market Share Downstream? In case of Saudi Arabia, the price of crude oil would be extremely low.

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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

Green Car Congress

The new refinery projects would increase production of refined products, such as gasoline and diesel, and in turn, they might reduce the current high prices for these products. The 400,000 b/d Jizan refinery in Saudi Arabia reportedly came online in late 2021 and began exporting petroleum products earlier this year.

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Gasoline demand rises in U.S., China, and India; more growth expected

Green Car Reports

Gasoline prices, which fell below $2 a gallon in many parts of the United States over the winter, have been slowly rising again. So even though Saudi Arabia has refused to constrain its production to.

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Oil is cheap, so Kuwait raised its own gas price to compensate

Green Car Reports

Cheap gasoline is good news for the economies of most countries, but not those that rely on oil exports. The sustained fall in global prices has led oil-producing countries to search for ways to keep their revenues up. DON'T MISS: Even Saudi Arabia vows to end its.