By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S., which have already reached a nearly five-month high, are set to again increase as wholesale costs continue to climb on multiple factors from geopolitical risk to unexpected refinery outages. At $3.523 gallon as of Feb. 13, the Energy Information Administration’s [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN In its most recent Short-term Energy Outlook, the Energy Information Administration (EIA) pointed to a 25% probability based on activity in the financially traded gasoline market that its U.S. average price for regular grade gasoline would top $4 gallon in June. “Recent options and futures price [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline values continue to find upside price support from refinery closures impacting the New York Harbor, with markets quickly popping higher on news of new unplanned downtime at other refineries even though there’s ample slack in the system while preliminary data from the Energy Information [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. retail regular grade gasoline average has now gained for four consecutive weeks through Jan. 9 to a $3.382 gallon two-month high, climbing 15.3 cents since Dec. 19. Of that total advance, 8.3cts of the gain took place during the week-ended [...]
Although wholesale gasoline costs were mixed during the final week of 2011, retail gasoline prices are poised to move higher in early January, with futures prices spiking to a nearly two-month high during the first trading day of 2012. Reformulated blendstock for oxygenate blending or RBOB futures trading on the New York Mercantile Exchange is [...]
Court rules that standard excessively restricts interstate commerce. Judge Lawrence J. O’Neill of the U.S. District Court for the Eastern District of California has issued a temporary injunction blocking the California low carbon fuels standard. This is welcome news to the California Independent Oil Marketers Association (CIOMA) who have described the standard as unjustifiable, costly [...]
This past June, Seibert’s fueling stations was able to donate over $6,000 to the Richmond Mayor’s Youth Academy, giving the education and youth-based program more support for mentoring and training local children for post-secondary education or vocation. Now, with the support of BP’s “Fueling Communities” Program, the Richmond, Va.-based fuel wholesale, service station, towing and [...]
Each organization earns up to $15,000 to support education, the environment, and local communities through Irving’s Community Fuel Grant Program. Irving Oil has just awarded $60,000 to support six local community organizations throughout Atlantic Canada and New England through its Community Fuel Grant Program. Each organization applied and requested for a grant worth up to [...]
Sioux Center, Iowa team to be led by renewables pioneer, Bernie Punt. Mansfield Renewable Energy has opened a new renewable energy operations office in Sioux Center, Iowa. Sioux Center native and distillers grains pioneer Bernie Punt has been tapped to lead the Sioux Center team as Field Services Manager. This renewable energy location places Mansfield [...]
Hovering at a 10-month low, the US retail gasoline price average provided by the Energy Information Administration should continue to leak lower for the balance of the year, benefiting travelers during the holiday travel season. This remains true despite the reality that pump prices are roughly 10% higher now than during the comparable year-ago period. [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN On Monday (12/12), the Energy Information Administration (EIA) reported the fourth consecutive weekly decline in its regular grade gasoline average, which fell 1.6 cents from the prior week to $3.274 gallon. That’s a nearly 10-month low in the average, although its 10% higher than during the [...]
Gas marketer Getty Petroleum Marketing Inc has filed for Chapter 11 reorganisation, Reuters reported. The bankruptcy filing comes a week after Getty Realty Corp. threatened to end its lease agreement with the gas-station operator for defaulting on payments. East Meadow, N.Y.-based Getty Petroleum Marketing is the largest tenant of Getty Realty, which owns and leases [...]
For the week through Dec. 5 U.S. wholesale gasoline costs mostly increased, while activity in the European Union coupled with heightened rhetoric from Iran are seen pushing gasoline prices even higher. Additionally, Sunoco Inc. announced Dec. 1 that it was beginning to idle the main process units at it Marcus Hook refinery near Philadelphia, Pa., [...]
The two family-owned businesses share core values and look to grow in the Vermont, New Hampshire area. Fleming Oil Co. in Brattleboro, Vt., and Dead River Co. have merged, effective Nov. 17, with plans to expand into select markets in New England. Fleming Oil operates at 11 locations in Vermont and New Hampshire. Dead River [...]
“This station will allow the city to continue environmentally-sound initiatives while lowering its annual fuel costs,” says Mansfield president. Mansfield Gas Equipment Systems (MGES) has been awarded a contract to design, construct and service a new compressed natural gas (CNG) station for the City of Beverly Hills. The station will be utilized by city vehicles [...]