Crain's Detroit Business
Michigan's average price for gasoline remained steady at $2.85 per gallon
08 May, 2018, 01:05
"If this past week's moderate increases are any indicator of what's to come, the fast rate at which gas prices were increasing may be slowing down", said Jeanette Casselano, AAA spokeswoman. The threat that the president may pull out of the Iran treaty and reimpose sanctions against the Islamic Republic could push oil up by as much as $10 a barrel. A year ago at this time, the average price in MA was 47 cents lower at $2.29.
Oil prices topped $70 a barrel Monday for the first time since November 2014 because traders expect the Trump administration to reimpose USA sanctions on Middle East crude producer Iran. "Gas prices were relatively stagnant last week, but we could see a slight boost, based on oil price gains last week and the potential for additional hikes in the coming days". Crude oil exports topped 2 million barrels a day for the second straight week.
Gasoline inventories nationwide are recovering from record-high demand in April - and the national average gas price held steady for the week, as the spike in USA pump prices appeared to temporarily level off. The Detroit area's average was about $2.87. Refineries are now federally-mandated to produce the more expensive summer-blend gasoline. Consumers could face the most expensive driving season in four years or since 2014, according to AAA.
Gasoline prices in MA are up one cent this week, according to AAA Northeast. At 62 million barrels total, mid-Atlantic and Northeast inventories are at their highest levels in almost two months. USA gasoline prices, already near the highest level since November 2014, are likely to push even closer to the $3 a gallon mark as the futures market rally filters through to the retail level.
In Greater Springfield, a gallon of regular averaged $2.81 Monday. A year ago, the state average was $2.52. Gas prices will eventually follow in the weeks following, whichever way oil moves.
Voters can choose either a Republican or Democratic ballot but not both, regardless of political party affiliation. The next chance to vote in Rutherford County is August 2nd in the County General and State and Federal Primary.
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It's a great jersey and it's a real honor to be the leader of a Grand Tour and for our team, we wanted to do it for Andy Rihs. It was chaotic because of all those corners and roundabouts, but we can be proud of ourselves", Viviani said.
Oil Prices Rise on Growing Supply Worries
Goehring expects the oil market to lose at least several hundred thousands barrels a day if the US decides to end the Iran deal. Saudi Arabia is the OPEC member that wants higher prices as it prepares for the listing of state oil giant Aramco.
Lava from Hawaii's Kilauea volcano destroyed 9 homes
He later saw a video on social media showing lava splashing and bubbling a few feet from his home, he told CNN affiliate KITV . That brings the total of fissures to 10 since the eruption began late Thursday afternoon, but a scientist with the U.S.