article thumbnail

How crude-oil prices influence gasoline prices

Green Car Congress

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. Gasoline prices are also influenced by gasoline demand relative to gasoline supply.

article thumbnail

Commentary: Could falling oil prices spark a financial crisis?

Green Car Congress

When oil prices were high and production was relentlessly climbing, energy related junk bonds looked highly profitable. The situation will compound itself if oil prices stay low. Without the ability to finance drilling, smaller or more indebted oil companies may not have a future.

article thumbnail

Opinion: Oil Price War May Benefit both US Shale and Saudi Arabia

Green Car Congress

Even as financial commentators on CNBC are starting to come around to the idea of a bottom in oil prices, the key question for US oil producers remains one of timing. How long will the oil price slump last? Is this a relatively short term event like 2008, or a longer term slump like the one in the mid 1980’s?

article thumbnail

EIA: high prices for natural gas this winter as global consumption remains high and inventories low

Green Car Congress

The US Energy Information Administration (EIA) expects higher-than-average natural gas prices globally as demand remains high this winter in the United States, Europe, and Asia, and inventories remain low. That price will be the highest inflation-adjusted monthly average price since 2008.

Gas 150
article thumbnail

California Gas Prices Set To Soar Beyond 2008 High Of $4.61

Green Car Reports

Gas prices are going up. With the Golden State already paying some of the highest gas prices in the nation, California drivers will find it's going to get more costly than ever to fill their tanks. According to Reuters, oil analyst Tom Kloza, chief oil analyst for Oil Price Information Service, expects the.

2008 123
article thumbnail

IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

Green Car Congress

The magnitude of gasoline demand decline will be much greater than the impact of the 2008 recession and could be further protracted depending on how effective social distancing measures are at controlling the spread of the COVID-19 virus. during the global recession in 2008/2009. million units. million units, down by at least 15.3%

Gasoline 269
article thumbnail

Fossil Fuel Production Up in 2008 Despite Recession

Green Car Congress

World production of fossil fuels—oil, coal, and natural gas—increased 2.9% in 2008 to reach 27.4 million tons of oil equivalent (Mtoe) per day, according to a Worldwatch Institute analysis. Energy prices reflected this shift: oil peaked at $144 per barrel in July, then fell to $34 per barrel in December.

2008 150