Tag: Gas Prices

0

  • Venezuela Gas Prices

    Venezuela is increasing gas prices by 6,000%

    The cost of gasoline for consumers is about to increase by 6,000% in Venezuela. While that price increase might sound dramatic, the average cost for a high-quality gasoline before the price hike was about 10 centavos or one U.S. penny per gallon. Following the price increase, citizens will now pay approximately 6 bolivars or 60 US […]

  • Oil prices gain and then fall on OPEC talks

    Oil gives up gains as hopes for a production cut fizzle

    Oil prices gained 5% on Tuesday but then gave back all that ground as talks between Saudi Arabia and Russia failed to reduce production. Oil ministers from the two countries met on Tuesday and agreed to freeze production at current rates — a small step that will do almost nothing to reduce the massive supply […]

  • Oil Prices continue to slide

    Oil prices just fell below $27 a barrel

    Oil prices are continuing to drop, falling a dramatic 4% on Thursday to end below $27 a barrel. The last time oil dropped below $27 was in 2003. While oil price decreases equal savings at the pump for American consumers, it has also wreaked havoc on global financial markets. Investors worry that the energy market, […]

  • Delta Air Lines profits Q4

    Delta Q4 profits hit $980 million thanks to sinking gas prices

    Delta Air Lines earned $980 million in the fourth quarter despite lower revenue than a year ago. The jump in profits is attributed to lower gas prices. Delta shares jumped 3.3% on Tuesday, as the company recovered nearly one-fourth of its losses on the month. The company also said bookings are ahead of last year’s pace […]

  • Oil is getting crushed

    Oil futures just crashed below $28 a barrel

    Oil futures continued to decline on Wednesday as U.S. crude reached its lowest since 2003. U.S. crude oil dropped more than 4% in early trading, falling to as low as $27.32 a barrel. The sinking future rebounded to track $1 below its starting price at $27.46 as of 1239 GMT. The contract settled down 96 cents, […]

  • Ryanair UK holiday prices up 46 percent

    Airlines increased prices 46% in the UK despite falling gas prices

    Falling oil prices didn’t give any relief to customers flying in and out of Britain from November to December. The Office of National Statistics revealed that prices jumped by 46% during that period. The monthly increase was the largest since 2002. Crude prices were set at $45.47 a barrel at the start of November and […]

  • Sub 20 dollar oil sellers

    Some oil is already selling for less than $20 a barrel

    While most of the world’s oil is still selling in the $29 range, there are some markets where 12-year lows have sent the cost of barrel below $20-a-barrel. It should be noted that the regions listed below sell “sour” grades of oil, which is less favored because of higher-quality “light” oils found in other regions. […]

  • OPEC predictions for 2016 and oil rebalancing

    OPEC believes the oil market will begin to rebalance in 2016

    Oil prices remain below $30 a barrel on Monday but the Organization of the Petroleum Exporting Countries (OPEC) believes prices will eventually stabilize in 2016. “After seven straight years of phenomenal non-OPEC supply growth, often greater than 2 million barrels a day, 2016 is set to see output decline as the effects of deep capex cuts […]

  • Oil Prices Sliding

    Oil prices slide to lowest point since 2003 as Iran floods market

    Oil prices have reached their lowest price since 2003 in early trading on Monday, as the market braces for a big jump in oil exports led by lifted sanctions in Iran. The UN nuclear watchdog group on Saturday said Tehran was meeting its commitments to curtail its nuclear program. Following those findings the US revoked sanctions […]

  • Foreclosures in oil producing areas

    Falling oil prices are causing foreclosures in these 3 states

    The oil industry is plummeting and its causing major problems in some housing markets. Foreclosure filings on a national level dropped to a nine-year low in 2015, but some oil-producing states are being hit hard by the misfortunes of energy companies, according to RealtyTrac. Foreclosure numbers trended higher in Texas, Oklahoma and North Dakota last year as […]

  • Gas prices at 20 dollars a barrel in 2016

    $20 oil is on the horizon if US dollar remains strong

    The strong US dollar and weak demand for oil in China could send the price per barrel to $20. Analysts at Morgan Stanley said on Monday that a 5% increase in the value of the US dollar would be enough to push down oil by between 10% and 25% or about $8 per barrel. Crude futures […]