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"US gas price averages will largely be well below $3 per gallon in the last third of 2025 unless we see a hurricane impact the US Gulf Coast," said Kloza.
Hurricane Ida brought gasoline refining to a halt at two sites on the Gulf Coast, likely causing the price of gasoline to jump in the coming days.
Idaho: Gas prices in Idaho have been frustratingly stagnant since falling from a high of $5.25 on July 1. The price dropped only from $4.53 one month ago to $4.42 today. The price dropped only ...
The crack spread contract helps refiners to lock-in a crude oil price and heating oil and unleaded gasoline prices simultaneously in order to establish a fixed refining margin. One type of crack spread contract bundles the purchase of three crude oil futures (30,000 barrels) with the sale a month later of two unleaded gasoline futures (20,000 ...
One argument for increased offshore drilling has been to reduce fuel prices. In 2007, the Energy Information Administration at the U.S. Dep. of Energy analyzed the effect of lifting the ban on oil and gas leasing on the Atlantic and Pacific coasts and the eastern Gulf of Mexico. [14]
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
The price of regular unleaded gas on average was $3.063 per gallon on Tuesday, down from $3.183 a month ago and $3.313 a year ago, according to AAA. This story has been updated with new information.
Because state waters extend only 3 miles (4.8 km) from shore on the east coast of Florida, the legislation would have affected only state waters on the Gulf coast of the state, where state waters extend out to 10.5 statute miles (16.9 km) from shore. The bill passed the Florida House in April 2009, but died soon after in the Florida Senate. [31]