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average gas prices

  • Featured Story

    Why Oil Prices Aren't Coming Down Despite Big U.S. Oil Boom

    By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler - April 4, 2013

    To continue reading, please click here…

Article Index

  • Why Oil Prices Aren't Coming Down Despite Big U.S. Oil Boom
  • Why Gas Prices are Heading Higher
  • How to Profit from a Drop in U.S. Gas Prices

Why Oil Prices Aren't Coming Down Despite Big U.S. Oil Boom

By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler - April 4, 2013

The dual promise of the U.S. shale oil boom was that it would reduce our dependence on foreign oil and lower oil prices that would benefit U.S. consumers via cheaper gasoline.

But while U.S. oil production continues to rise, and gasoline consumption continues to fall, gas prices have remained stubbornly high: The national average was about $3.65 last week.

And that trend is expected to continue, with the United States surging past Saudi Arabia as the world's largest producer of crude oil as soon as 2020. Meanwhile, U.S. gasoline demand is at its lowest in more than a decade - down to 8.7 million barrels a day.

Facts like that have led some pundits to predict falling oil prices. Last year, some politicians were promising that stepped-up U.S. oil production could lower gasoline prices to $2.50 a gallon.

Frustrated U.S. drivers struggling to cope with high gas prices were eager to believe such promises, no matter how unlikely.

Unfortunately, all that new U.S. oil, while helpful in some ways, will not have much effect on gas prices - either now or in the foreseeable future.

"The problem is that prices are not just reflective of new supplies, either too much or too little," explained Money Morning Global Energy Strategist Dr. Kent Moors. "By focusing only on how much is there, these analysts provide a fundamentally distorted view of the oil market."

To continue reading, please click here…

Why Gas Prices are Heading Higher

By Dr. Kent Moors, Global Energy Strategist, Oil & Energy Investor • @KentMoors_OEI - July 18, 2012

With "Big Ben" testifying over the next two days on Capitol Hill, the indices will be bouncing around.

I always find it curious that the same Street urchins who criticize government for interfering in the "free market" are nonetheless the same ones pouting in the corner when the Fed doesn't propose a new bailout to improve their portfolio values.

When my children would pull a stunt like that, they would be sent to bed early... not given a seven-figure salary and benefits.

In any case, that's not the only pouting going on...

A few weeks ago, pundits were claiming U.S. gas prices could be moving down to as low as $3 a gallon nationwide.

Well, these same guys have been quiet lately.

That's because the price has been moving, all right, but in the opposite direction.

The RBOB near-month futures price was up again yesterday (Monday) at market's open. This is the contract traded on the NYMEX for blended gasoline. The price has increased 5.6% in the past week and 11.6% for the month. As of Monday's open, the price had recovered 13% from the recent low, just three weeks ago.

Gasoline is now tracking ahead of the rise in crude oil futures prices.

The reasons are rather straightforward.



To continue reading, please click here...

How to Profit from a Drop in U.S. Gas Prices

By , Money Morning - April 19, 2012

U.S. gas prices have slipped from their recent peaks of $4.00 and above – is there a profit play here? Indeed, Money Morning Chief Investment Strategist Keith Fitz-Gerald joined Fox Business’ “Varney & Co.” to discuss what’s going on with U.S. gas prices. Watch this clip to hear Fitz-Gerald explain what’s driving gas prices. He also shares two stocks investors can buy to profit from this move – if they act fast.

Read More…

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