. Military Space News .
OIL AND GAS
Gas prices down for 25 straight days
by Daniel J. Graeber
Washington (UPI) Dec 1, 2015


disclaimer: image is for illustration purposes only

For 25 days in a row, U.S. drivers have seen the retail price for gasoline fall and that should be the prevailing trend through year's end, AAA reports.

The motor club reports a national average retail price for a gallon of regular unleaded gasoline at $2.04, a fraction of a cent less than Monday and 15 cents, or 6.7 percent, less than one month ago.

In a weekly report on the retail sector, AAA said the end to an unusually busy season of refinery maintenance, largely in the Great Lakes states, and slumping demand are behind the steady decline in gasoline prices.

"Demand for gasoline typically declines during the winter months and the gasoline market may become even more oversupplied in the near term, which should keep gas prices relatively low," the motor club's report read. "Barring any unanticipated disruptions in supply, or swings in the price of crude oil, retail averages are expected to continue to fall leading into 2016."

Crude oil prices drive a large portion of the price at the pump. Brent crude oil prices declined nearly 7 percent in November, mirroring the trajectory for retail gasoline prices.

The level of oil production is more than the global economy can take on, putting downward pressure on crude oil prices. Geopolitical tensions, like those in the Middle East and Europe in the wake of the terror attacks in Paris, have made little impact on crude oil prices.

"The Organization of Petroleum Exporting Countries is scheduled to meet this Friday, and analysts expect that the cartel is unlikely to reduce production despite the relatively low price of crude oil," AAA's report read.

Nearly half of all U.S. states report an average retail price below the $2 mark. Michigan has the lowest average price in the nation at $1.79 per gallon.


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Iraqi Kurds made $3.29 bn from direct oil sales
Arbil, Iraq (AFP) Dec 1, 2015
Iraq's autonomous Kurdish region said Tuesday it has made more than $3.29 billion in revenues since June from direct oil export sales that the country's federal government considers illegal. Baghdad - which announced a rise in exports on Tuesday - insists all oil sales must go through the federal government, while the three-province region argues that lacking federal funding justifies inde ... read more


OIL AND GAS
Poland's new govt rethinks Patriot missiles, Airbus choppers

Thales sub-contracted for NATO BMD test activities

Patriot takes out two ballistic missiles in latest test

Army system integrates different radars for Patriot-3 interceptor

OIL AND GAS
Saab to modernize Sweden's RBS 97 Hawk missile system

India test fires ship-based nuclear-capable missile

US has 'concerns' over Russian missile system: US official

India test fires Advanced Air Defense missile

OIL AND GAS
US approves drone sale to Japan

Developing new standards of drone operations

CACI launches SkyTracker UAV detection system

Japan to acquire Global Hawk drones

OIL AND GAS
Australia contracts for defense computer network upgrades

Harris Corporation Wins $40 Million Air Force Satellite Control Network Contract Extension

Commercialization is coming to WGS

DARPA's RadioMap Program Enters Third Phase

OIL AND GAS
BAE Systems, SAIC making amphibious armored vehicle prototypes

Raytheon moves forward with Multi-Object Kill Vehicle program

U.S. Air Force orders more JDAM bomb kits

U.K. awards Cook Defence Systems contract for armored vehicle tracks

OIL AND GAS
British PM David Cameron announces boost in defense spending

US approves $1.29 bn sale of bombs to Saudi Arabia

New York City turns tide on homeless vets

Orbital ATK and Boeing open offices in UAE

OIL AND GAS
China Communist Party reshuffles military, extends control

Russia targets Turkish economy over downed warplane

Polish call to scrap NATO-Russia deal 'extraordinarily dangerous': Moscow

Putin inaugurates museum honouring ex-leader Yeltsin

OIL AND GAS
Electric fields remove nanoparticles from blood with ease

Navy researchers recruit luminescent nanoparticles to image brain function

Light wave technique an advance for optical research

Nanostructuring technology can simultaneously control heat and electricity









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.