Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply.
December 14, 2015Business, Fuel
Diesel Falls to $2.379; Gas Dips to $2.053; Crude Prices Slide Amid Worldwide Glut
The U.S. average retail price of diesel fell 4.2 cents a gallon to $2.379, marking the fourth consecutive weekly drop, the Department of Energy reported Dec. 7.
December 14, 2015Business, Fuel
Volvo Trucks OKs Use of Renewable Diesel for Its Engines
Volvo Trucks North America said it has approved the use of renewable diesel fuel, which can be made from biomass, in its engines.
December 10, 2015Business, Fuel
Diesel Falters as El Nino Takes Bite From US Winter Demand
Diesel is the cheapest versus gasoline for this time of year in at least a decade as inventories surge and mild temperatures reduce heating demand.
December 10, 2015Business, Fuel
Pilot Flying J Donates $10 Million to Knoxville Schools to Modernize Football Fields
Pilot Flying J is donating $10 million over the next three years to provide athletic and academic support to the 13 public high schools in Knox County, Tennessee, including synthetic turf at each school for a football field.
December 9, 2015Business, Fuel
Get Ready for $2 Gasoline Again
U.S. gasoline pump prices are poised to drop below $2 a gallon for the first time in more than six years, which is sure to bring comfort and joy to drivers.
December 9, 2015Business, Fuel
DOE Expects Diesel to Average $2.67 a Gallon in 2016
The Department of Energy said it expects the price of diesel to average $2.67 a gallon in 2016 and gasoline to average $2.36.
December 8, 2015Business, Fuel
Brent Crude Drops Below $40 for First Time in Almost Seven Years
Brent crude fell below $40 a barrel for the first time in almost seven years after OPEC effectively abandoned limits on crude output, prompting speculation that a record global glut will continue.
December 8, 2015Business, Fuel
Diesel Falls to $2.379, Down 4.2¢ in Fourth Consecutive Drop
The U.S. average retail diesel price slid for the fourth week in a row, down 4.2 cents a gallon to $2.379, the Department of Energy reported Dec. 7.
December 7, 2015Business, Fuel
Oil Extends Decline Below $40 as OPEC Abandons Production Target
Oil extended losses below $40 a barrel amid speculation a record global glut will be prolonged as OPEC effectively abandoned its longtime strategy of limiting production to control prices.
December 7, 2015