Crude Price Spike May Send Gas Higher
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Amid soaring crude oil prices, gasoline costs have been dropping. But don't expect that to last, economists say.
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CAMARILLO, Calif. - Gas prices have dropped nearly 5 cents in the past three weeks with an increase in supply, but soaring crude oil prices could cause rates to rise again soon, an industry analyst said Sunday...
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Business & money: The AA warns that the $4 increase in crude prices signals even dearer fuel in the weeks ahead
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence that energy costs are not  substantially slowing the economic growth that fuels oil  demand.
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The effect of high crude oil prices continued to pinch consumers at the pump, with the average cost for gasoline rising 4.9 cents to the highest level in 14 months and diesel fuel soaring 6.3 cents to match the record set two years ago, the government said on Monday.
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CONTINUING concerns over possible supply disruptions and strong demand pushed prices of crude oil futures to historical highs yesterday.
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Crude futures for September delivery traded in New York rose today to $49.40 a barrel, up 70 cents.
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel on Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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U.S. crude futures soared to a record  &#36;75.40 per barrel on Wednesday amid a rally in gasoline prices.
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Oil prices climbed toward $47 a  barrel on Thursday after bullish fuel stocks data in the United  States and a series of production hitches across the globe  rekindled worries of a major supply disruption.
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Some experts fear that a boom in gas demand for electricity generation will send prices even higher.
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U.S. average retail gasoline prices rose more than 6 cents a gallon in the last two weeks, but further increases are likely to be modest in the short term unless OPEC cuts production again, according to an industry analyst.
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NEW YORK - Stocks moved slightly higher Friday as investors tried to uncouple share prices from skyrocketing oil costs, even as crude reached new highs and flirted with $50 per barrel.    A barrel of light crude was quoted at $48.90, up 20 cents, on the New York Mercantile Exchange after setting a new intraday record earlier in the session at $49.40...
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Retail gasoline prices could go  higher as fuel suppliers pass along a surge in the cost of  crude oil to drivers, the head of the U.S. Energy Information  Administration said Tuesday.
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Crude oil futures prices soared more than $2 a barrel to settle above $48 yesterday, as concerns about tight winter fuel supplies mixed with speculation that OPEC may scale back output later this year.
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The price of crude reaches a new high in the US,  driven up by official data showing a decline in heating oil stocks.