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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.

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “

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US average retail gasoline prices ended 2017 lower than they started

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US regular retail gasoline prices averaged $2.72 per gallon (gal) in 2018, 30 cents/gal (13%) higher than in 2017 and 57 cents/gal higher than in 2016. In 5 of the 10 cities for which EIA collects weekly retail price data, gasoline prices exceeded $3.00/gal Gulf Coast retail gasoline prices tend to be the lowest in the country.

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Actual fuel economy of cars and light trucks: 1966-2017

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Specifically, this study examines actual fuel economy of cars and light trucks (pickup trucks, SUVs, and vans) from 1966 through 2017. Department of Transportation were the sources of the information for 1986 through 2017. The graph below shows the changes in actual vehicle fuel economy from 1966 through 2017. total Btu).

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Average gasoline prices in US up 13% in 2017 from 2016, but lower than in 2015

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US regular retail gasoline prices averaged $2.41 per gallon in 2017, 27 cents/gal (13%) higher than in 2016, but two cents/gal less than in 2015, according to the US Energy Information Administration (EIA). Higher crude oil prices in 2017 contributed to higher gasoline prices. gal at some point in the year.

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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. mb below the 2017-2021 average. mb/d in 2023, surpassing pre-pandemic levels.

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UK ONS report finds significant challenge remains to reduce road transport emissions; sector GHG emissions up 6% from 1990-2017

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A new report by the UK’s Office for National Statistics (ONS) finds that greenhouse gas (GHG) emissions from road transport in the UK rose by 6% from 1990 to 2017. Total fuel used for road transport in the UK remained relatively stable from 1990 to 2017 as the fuel efficiency of newer vehicles has improved.

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