Home / oil price / Gas prices have fallen as much as seven cents a gallon

Gas prices have fallen as much as seven cents a gallon

Statewide and national average prices for a gallon of unleaded gas are dropping as well, as crude oil remains under $50 a barrel.

Gas prices in South Florida have fallen as much as seven cents a gallon over the past month and should be heading much lower thanks to a drop in crude oil prices, travel club AAA is reporting.
The price of West Texas Intermediate crude plunged last Thursday to $45.52, its lowest close since before OPEC countries reached agreement in November to cut production.
That led to WTI crude closing at $45.52 and wholesale gasoline prices closing 20 percent below April’s highs, possibly foreshadowing a return to retail gas prices near $2 a gallon by summer, AAA spokesman Mark Jenkins said.
“If this trend holds, gasoline will be near or below year-ago levels by Memorial Day, and rival prices seen last summer,” Jenkins was quoted as saying in AAA’s weekly gas price update.

as mentioned in

Iran says $55 oil price suitable

oil price

“The price range of $55 per barrel would be suitable for oil,” Zanganeh said, according to the Oil Ministry’s news website SHANA.
Iraq’s oil exports Iraq’s daily oil exports averaged 3.252 million barrels per day (bpd) in April, down slightly from 3.259 million bpd the previous month, an Oil Ministry spokesman said.
Iraq shipped 3.230 million bpd from its southern Basra terminals and 22,000 barrels a day were exported from the northern Kirkuk oilfields, Asim Jihad said.
“I think non-OPEC oil producers will also second (an) extension of the plan,” said Zanganeh, speaking on the sidelines of an energy fair in Tehran.
DUBAI/ BAGHDAD: Iran sees $55 per barrel as a suitable price for crude oil and believes that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers are likely to extend output curbs to support prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Saturday.

as mentioned in
oil price

05.05.2017) Pricing Fortnight for 01.05.2017 (April 12, 2017 to April 26, 2017) Crude Oil (Indian Basket) ($/bbl) 48.14 (47.85) 52.36 (Rs/bbl) 3091.17 (3077.27) 3374.60 Exchange Rate (Rs/$) 64.22 (64.31) 64.45RG/SA Daily Crude Oil Price
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 48.14 per barrel (bbl) on 08.05.2017.
In rupee terms, the price of Indian Basket increased to Rs.
This was higher than the price of US$ 47.85 per bbl on previous publishing day of 05.05.2017.
3091.17 per bbl on 08.05.2017 as compared to Rs.

 

About finance market

Avatar for finance market

Check Also

DW : Oil price slips to multi month low picture-13274-310x165

DW : Oil price slips to multi-month low

as mentioned in Experts are saying the prices can dip even lower – despite the …