The American Automobile Association says gas prices in Oklahoma will likely increase temporarily this week as a result of Hurricane Ida. The storm has left more than one million people in Louisiana and Mississippi without power and likely taken about 13% of U.S. refining capacity offline. There were nine oil refineries in Ida’s path; at least …
Category: Gasoline Prices in Oklahoma
Gasoline prices at the pump fall with sliding oil prices
The nearly $5 a barrel slide in crude oil prices over the past week, until prices rebounded on Monday, led to a fall in nationwide gasoline prices. Oklahoma prices slipped one cent in the past week to settle at $2.86 per gallon regular gasoline. Prices at the pump were their lowest in three months …
Sen. Inhofe leads letter urging Biden to reverse call on OPEC to increase oil production
Oklahoma U.S. Sen. Jim Inhofe was joined by Sen. James Lankford and 22 other Republican Senators in urging President Biden to reverse his recent call for OPEC to increase oil production to offset rising gasoline prices. In a letter this week to the President, the Senators said the best and most effective way to …
Gasoline prices steady in Oklahoma but grow higher nationwide
High gasoline prices continue to take a chunk out of wallets these day and they’ve even gotten the attention of Oklahoma U.S. Sen. James Lankford in a recent tweet. “In just 1 year, the cost of milk is .40 cents higher. Gas prices are soaring. Bacon is up. Everyday products are skyrocketing & it’s …
Gasoline demand soars to record high
At 10 million b/d, gasoline demand reached a new Energy Information Administration (EIA) record last week, according to AAA. That number reflects only a portion of Independence Day holiday travel. The nearly 1 million b/d jump in demand drove down gasoline supplies by 6.1 million bbl to 235,000 million bbl and consequently pushed the …
Court delivers strike against ethanol industry
Another significant blow against the ethanol industry was delivered Friday by a Federal appeals court which threw out a Trump-era Environmental Protection Agency rule change that allowed for the sale of a 15% ethanol gasoline blend in the summer months. The Associated Press reported most gasoline sold in the U.S. today is blended with …
Refiners look to boost gasoline production during summer driving season
A race is underway among the nation’s oil refineries as operators explore way to increase their production of gasoline as Americans hit the road during the summer driving season. Reports suggest some refiners are buying low-sulfur vacuum gasoil or VGO to maximize their fuel production while at the same time not increasing their crude …
Oklahoma gasoline prices unaffected by Colonial pipeline attack
After the Russia-based DarkSide ransomware gang hit the Colonial Pipeline, the company began limited shipments Monday night. Oklahoma most likely won’t be affected by the shutdown according to AAA Oklahoma. The line runs from Greensboro, North Carolina to Maryland. However, Colonial’s two main lines that connect the refinery operations in Houston, Texas to North Carolina …
Gasoline prices level off in the past week
Gasoline prices in Oklahoma and across the nation started showing signs of stability in the past week after weeks of daily increases at the pumps. Oklahoma’s average of $2.67 is only one cent higher than a week ago while the national average held steady at $2.88 for the last five days. The prices at …
Gasoline shortage in Texas after historic freeze
A shortage of gasoline is the latest crisis to hit Texas following the deadly winter storm that caused rolling blackouts and left nearly 3-dozen dead. As Bloomberg reported, it’s estimated that one in every seven gas stations in the state is without fuel because the storm not only crippled refineries but hit the trucking …