The Environmental Protection Agency has begun using a new method to estimate fuel economy starting with 2008 model year vehicles. The new method is more accurate than the EPA’s older method. The EPA adopted the new method in December after complaints that fuel economy estimates have been too high. The new estimates more accurately reflect […]

Now that the price of crude oil is rising again, U.S. retail gasoline prices are probably at the lowest we will see. While gas prices fell for most of January, prices at the pump are expected to rise this month.
“With the near-month crude oil futures price rising from a level close to $50 per barrel […]

While the national average pump price has declined over the last week, gasoline prices may be about to climb again.
Consumers are paying an average of $2.15 a gallon for regular unleaded gasoline, According to AAA, the national average for regular unleaded gasoline is $2.15 a gallon — down 5 cents from a week ago, and […]

The U.S. Environmental Protection Agency unveiled new fuel economy rules effective for 2008 model year vehicles. The new fuel economy rules will result in ratings some 8 percent to 12 percent lower with the new testing and labeling rules (one proposed version shown). The EPA’s new rules were designed to make fuel economy estimates more […]

Only The Second-Largest Profit Ever
ExxonMobil, the world’s largest publicly traded oil company and the biggest corporation by revenue, announced that it turned a profit of $10.5 billion for the third quarter of 2006. Despite declining oil and gas prices, and higher production costs industry-wide, it is still the company’s second highest profit quarter ever — […]

The seven-week decline in gas prices at the pump may not be over yet. Average gas prices in the United States are expected to fall as low as $2.15 per gallon, according to the U.S. Energy Information Administration. But average gas prices are not expected to fall below the $2 mark, unless crude oil prices […]

Crude-oil prices are dropping and currently sit about $14 below their peak of $78.40 in July. Now, Philip Verleger, an energy consultant who was the lone analyst several years ago warning that oil prices would soar. Now, he says, they appear to be poised for a dramatic plunge, even dropping down to lows not seen […]

The federal government announced that gas prices are at their lowest average since April of this year. While prices typically drop at the end of the summer driving season, Oil Price Information Service forecasters have said that by November of this year, fuel will be closer to $2.00 per gallon than the $3.00 seen recently.
What […]

Despite lower crude oil prices over the last several days, the Detroit automakers are still expecting gas prices to stay high for the foreseeable future. On Monday, Thomas LaSorda, CEO of the Chrysler Group, said that he expected gasoline prices to remain at $3 to $4 a gallon for the rest of this decade.
This is […]

BP announced on Monday that the corrosion that caused it shut down the huge Prudhoe Bay oil field is so severe that it will have to replace 16 miles of pipeline. BP said the work could shut down Prudhoe Bay oil field months. BP will have to replace most of the 22 miles of transit […]