Author: John Wilen
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China pushes oil price down
NEW YORK – Oil prices dropped sharply Thursday after China said it will raise fuel prices, a move that could dampen the booming Asian nation’s oil consumption.Prices also were given a downward push by the Iraqi Oil Ministry’s announcement that it is close to signing oil service deals with several major Western oil companies in…
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Oil hits record, then reverses
Crude oil futures swung wildly on Monday, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia’s promise to boost production. Retail gas prices rose to a record $4.08 a gallon.Light, sweet crude for July delivery fell 25 cents to settle at $134.61 a barrel on…
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Oil prices falling, but not gas
NEW YORK – Oil prices extended their drop from record highs Wednesday, falling to the $122 level after the Energy Department said gasoline demand fell sharply last week.Retail gas prices, meanwhile, rose to a record average above $3.98 a gallon and are likely to hit $4 in coming days, even though oil prices have retreated…
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Wanted: Breaks
NEW YORK – Drivers know that slowing down means getting more miles to the gallon. Now airlines are trying it, too – adding a few minutes to flights to save millions on fuel. Southwest Airlines started flying slower about two months ago and projects it will save $42 million in fuel this year by extending…
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Gas prices hit record in U.S.
Ethan Stowell finished putting his weekly gallon of gas into the tank of his Vespa scooter at a station near downtown Seattle on Tuesday. Stowell’s was one of very few smiling faces at U.S. gas pumps. Photo by (AP)
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Rising prices
Charlie Adib at a Valero station in Stoughton, Mass., on Monday. Analysts said Tuesday that consumers looking for relief at the gas pump could be out of luck because the days of gas costing less than $3 a gallon might be over. Photo by (AP)