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Inventories of distillate fuels, which includes diesel, also grew by 6.5 million barrels versus expectations of 1.7 million. Diesel stockpiles are at their highest level since 2021.
Oil futures rallied amid the largest crude inventory drop since July, which was offset by an increase in gasoline stockpiles. West Texas Intermediate gained almost 1% to settle at $75.09 a barrel ...
Today a gallon of gasoline in California today costs $4.61 on average, just over 10 cents lower than the last month and more than 50 cents lower than last year, according to the latest prices from ...
A market developed for fuel oil as it was discovered that petroleum was superior to coal in powering the large engines of ships and railroad locomotives. The prevalence of the automobile in the early 1900s created a mass market for gasoline, and a shortage soon developed of the lighter gasoline fractions of crude oil.
The districts are now named for the later Petroleum Administration for Defense which existed during the Korean War. It was established by the Defense Production Act of 1950, then abolished in 1954, with its role taken over by the United States Department of the Interior 's Oil and Gas Division.
The 2016 Southeastern United States gasoline shortage was a phenomenon caused by the 2016 Colonial Pipeline Leak and the resulting panic buying in which many gas stations across six states had entirely run out of gasoline, causing price hikes, halts of services, and several declarations of states of emergency.
U.S. crude oil supplies increased 5.2 million barrels (1.4%) for the week ending Oct. 18, according to an Energy Information Administration report (link opens a pdf) released today. After ...
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