Gasoline Grinch arrives with pump prices above $3

Gasoline Grinch arrives with pump prices above $3
Pump prices continue to rise in the Washington metropolitan area. Gasoline prices ticked up a penny over the past week. NEW YORK -- The national average for a gallon of regular gasoline topped $3 a gallon on Thursday, just in time for the holiday driving trips millions of Americans will take this week. The average pump price rose about a cent and a half a gallon overnight, to $3.01, according to AAA, Wright Express and Oil Price Information Service. That's 14 cents more than a month ago and 43 ...

New Interest in Turning Gas to Diesel
By MATTHEW L. WALD NYT WASHINGTON — Diesel and jet fuel are usually made from Crude Oil. But with Oil Prices rising even as a glut of Natural Gas keeps prices for that fuel extraordinarily cheap, a bit of expensive alchemy is suddenly starting to look financially appealing: turning Natural Gas into liquid fuels. A South African firm, Sasol, announced Monday that it would spend just over 1 billion Canadian Dollars to buy a half-interest in a Canadian Shale Gas field, so it can explore turning...

Gasoline, nationally, tops $3 per gallon
NEW YORK, Dec. 23 (UPI) -- The national average price of gasoline breached the $3 mark Thursday as oil prices in New York flirted with two-year highs. Crude oil prices have escalated on encouraging economic news, cold winter weather and recent draws in U.S. stockpiles. Drivers have also increased time spent on the road this year, giving momentum to oil, which is a bellwether for consumer prices. AAA said a gallon of unleaded gasoline across the country cost on average $3.013 Thursday, up from $2...

Diesel, jet fuel made from natural gas
Image by philipbouchard via Flickr NY Times: Diesel and jet fuel are usually made from Crude Oil. But with Oil Prices rising even as a glut of Natural Gas keeps prices for that fuel extraordinarily cheap, a bit of expensive alchemy is suddenly starting to look financially appealing: turning Natural Gas into liquid fuels. A South African firm, Sasol, announced Monday that it would spend just over 1 billion Canadian Dollars to buy a half-interest in a Canadian Shale Gas field, so it can explore...

Oil climbs to 2-year high on frigid weather, rising
Singapore (Reuters) - Oil rallied to its highest price in more than two years on Friday, supported by unusually frigid weather that has fueled demand, depleted supplies and stoked inflationary worries from South Korea to India. European benchmark ICE Brent Crude for February hit an intra-day high of $94.74 a barrel, the highest level since October 2008, before easing back to trade up 32 cents at $94.57 a barrel by 1:49 a.m. EST. Global benchmark U.S. crude futures, which hit a 26-month high of ...

Gas prices top $3 a gallon
NEW YORK (CNNMoney.com) -- Gas Prices surpassed the milestone $3 mark Thursday for the first time since Oct. 17, 2008, as the national average compiled by motorist group AAA reached $3.013 a gallon. Gas prices have risen more than 4% from $2.872 a month ago and are nearly 16% higher than the $2.585 average a year ago, according to the AAA figures. Email Print Comment Prices have been climbing steadily since bottoming out at $1.616 in December 2008. However, the average price is down $1.101 -- ...

Gas prices hit $3 a gallon, highest in 27 months. Will they go higher?
Now at an average price of $3 a gallon, Gasoline could cost at least $3.50 a gallon by spring. Rising Gas Prices go hand in hand with higher Oil Prices, driven up by outlook for a stronger economy....

Millions of holiday travelers expected
Holiday travelers can expect clogged roads, high Gas Prices and some Bad Weather this weekend. As millions of people get on the road to visit friends and family, average Gas Prices on Christmas Day could hit $3 a gallon for regular unleaded — 40 cents more than last year and up $1.35 over 2008, said Tom Kloza of the Oil Price Information Service. That would be a record. "We've never had a Christmas with $3 a gallon gas," Kloza said. Despite the high cost of car travel, auto club AAA still ...

Oil hovers near 2-year high on cold snap, tighter stocks
By Randolph Fabi Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel consumption in 2010. U.S.... Will oil prices stabilize around $80? Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel cons...

Oil hovers near 2-year high on cold snap, tighter stocks
By Randolph Fabi Singapore | Thu Dec 23, 2010 3:02am EST Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel consumption in 2010. U.S. crude for February rose 25 cents to $90.73 a barrel by 0714 GMT (2:14 a.m. ET), after settling at the highest level since October 2008 on Wednesday. ICE Brent Crude traded 14 cents higher at $93.79. Abnormally...

Arab OPEC ministers to meet as oil price tops $91
Will Oil Prices stabilize around $80? Cairo (Reuters) - Arab OPEC ministers began arriving in Cairo on Thursday ahead of talks expected to broach how high an Oil price the world economy can stand as crude jumped to a more than two-year high above $91 a barrel. A full conference of the Organization of the Petroleum Exporting Countries earlier this month elected to make no change to an output policy it has stuck to since December 2008. Since then Oil has maintained a more than 30 percent rally fr...

Midwest farmland prices soar due to strong prices
Increased Commodity Prices and strong demand have sent prices of farmland skyrocketing, making it more difficult for young and beginning farmers to get established but strengthening the Balance Sheets for those who own the land. Across the Corn Belt, the price of farmland was on the rise in 2010. The highest increases were seen in Iowa, where values rose 13 percent and an acre of farmland sold for upward of $7,000 in some areas of the state. Minnesota and Wisconsin also saw double digit increase...

Oil, gas prices rise in extended cold snap
Combined with heavy winter demand for heating fuel, light, sweet crude for February delivery prices on the New York Mercantile Exchange added 61 cents, 0.6 percent, to $90.43 per barrel. Heating Oil Prices gained 1.18 cents to $2.5409 per gallon. Reformulated Gasoline prices gained 2.04 cents to $2.402 per gallon. Henry Hub Natural Gas prices shed 5.9 cents to $4 per million British thermal units. At the pump, the national average price of unleaded Gasoline jumped to $2.997 per gallon Wednesday...

Gasoline Tops $3 A Gallon For First Time At Christmas
Daily Finance: It may be the happiest season of the year, but higher Oil Prices that have translated into Gasoline prices topping $3 a gallon have many motorists frowning. According to the latest survey by the AAA motor club, the nationwide average for a gallon of regular unleaded fuel surpassed $3 a gallon Thursday, its highest level in more than two years. Read the whole story: Daily Finance Get HuffPost Business On Twitter and Facebook! Know something we don't? E-mail us at ...

Its Too Early to be Bullish on Nat Gas
I mentioned last week that we like the Energy sector, particularly Oil and Coal. The two stocks mentioned Arch Coal (ACI) and SunCor (SU). Several people tagged me to ask about Natural Gas.The Bullish argument is rising Oil Prices will drag Nat Gas with it. The bear case, however, is controlling at the moment. Given the huge new finds in both shale rock frac-ing and Barnett and Haynesville finds, along with the Marcellus find, makes the fundamental supply story Bearish. North America has a ~20...

No sign of OPEC concern with oil heading for $100
By Sherine El Madany and Shaimaa Fayed Cairo | Fri Dec 24, 2010 9:46am EST Cairo (Reuters) - Core OPEC ministers said on Friday they saw no need to supply the world with more crude as Oil Prices traded near a two-year high and some consumers said they fear a rally above $100 per barrel would spur Inflation. OPEC's most influential oil minister, Saudi Arabia's Ali al-Naimi, said he was still happy with an oil price of $70-80 per barrel and there was no need for an extra OPEC meeting before the...

Stocks positioned for a flat open
NEW YORK (CNNMoney.com) -- U.S. stocks were poised to open nearly unchanged Thursday morning ahead of a slew of economic reports, and as gas topped $3 a gallon for the first time in more than two years. Dow Jones industrial average (INDU), S&P 500 (SPX) and NASDAQ (COMP) futures were little changed ahead of the opening bell. Futures measure current index values against perceived future performance. Email Print Comment On Wednesday, Stocks climbed to fresh two-year highs. Trading is usually...

Holiday Travelers Hitting Road, Paying More
Like this Story? Share it: Gas Prices are on the rise this Christmas. Nationwide the average price for regular is $3.01 a gallon, a $0.43 jump from 2009 and the first time gas has ever topped $3.00 at Christmas. (CBS/iStock Images) (CBS) Millions of Americans are heading home for Christmas and most of them will travel by car. It's estimated 93 percent of 2010's holiday travelers are driving. That's nearly 86 million people on the road. CBS News correspondent Don Teague reports in Dallas, Texas...

Treasury prices fall, stocks end flat as holiday weekend begins
U.S. stocks ended a strong week on a quiet note Thursday, as mixed economic data kept investors from jumping in ahead of a long holiday weekend. The Dow Jones industrial average edged up 14 points, or 0.1%; the S&P 500 fell 2 points, or 0.2%; and the NASDAQ slipped 6 points, or 0.2%. The three major indexes were about 1% higher for the week. On Wednesday, stocks ended at fresh two-year highs as Oil Prices topped $90 a barrel. Reports Thursday showed Jobless Claims barely budging, new home sa...

Arab OPEC ministers to meet as oil price tops $91
By Sherine El Madany and Shaimaa Fayed Cairo | Thu Dec 23, 2010 1:12pm EST Cairo (Reuters) - Arab OPEC ministers began arriving in Cairo on Thursday ahead of talks expected to broach how high an Oil price the world economy can stand as crude jumped to a more than two-year high above $91 a barrel. A full conference of the Organization of the Petroleum Exporting Countries earlier this month elected to make no change to an output policy it has stuck to since December 2008. Since then Oil has mai...

Oil climbs to 2-year high on frigid weather, rising
By Randy Fabi Singapore | Fri Dec 24, 2010 2:38am EST Singapore (Reuters) - Oil rallied to its highest price in more than two years on Friday, supported by unusually frigid weather that has fueled demand, depleted supplies and stoked inflationary worries from South Korea to India. European benchmark ICE Brent Crude for February hit an intra-day high of $94.74 a barrel, the highest level since October 2008, before easing back to trade up 32 cents at $94.57 a barrel by 1:49 a.m. EST. Global ben...

Get ready for skyrocketing energy prices
Earlier this week the president said his singular focus for the next two years will be on The Economy. Of course we have heard this from the president since he took office and he told us that we must pass the now failed stimulus package to keep Unemployment from reaching eight-percent. Now, as Unemployment has hovered near ten-percent for nearly two years, President Obama continues to pay lip service to the economy while implementing policy that is detrimental to Economic Growth. The Politico is...

Want to be Lord of War?
In March 2003 the stock price of Halliburton, an Oil and gas engineering company that also provided Military logistics support through its subsidiary, was roughly $10.50. Also in March 2003, the US invaded Iraq. According to corporate research site Crocodyl: Halliburton saw its revenue increase 30 percent to $16 billion in 2003, largely because of its Military contracts in the Middle East. Halliburton was the number-one U.S. Army contractor in 2003, with the total value of its Army contracts val...

St Petersburg's tower to the sky fails to get off the ground
Dreamed up in the heady days of ever-rising Oil Prices, before the Financial Crisis struck, it represented the optimism and swagger of the new cash-rich Russia. A twisting, 400m-high Skyscraper, to be built overlooking the historical centre of St Petersburg, the building was to house the headquarters of the state gas monopoly, Gazprom. Architectural preservationists howled that it would destroy the city forever, UNESCO said it would be a travesty, but the authorities insisted that the project wa...

Stocks mixed on last trading day before Christmas
NEW YORK -- Stocks ended mixed in a light day of trading Thursday after reports showed small improvements in Consumer Spending and the Job Market. The Commerce Department reported that Consumer Spending rose 0.4 percent in November from the month before. That was slightly below expectations of a 0.5 percent gain. In a separate report, the Labor Department said the number of people applying for Unemployment Benefits for the first time dropped by 3,000 last week to 420,000. That number is just lo...