Schumer asks Biden to Tap into Oil Reserve

Oil prices went below $80 a barrel today, with speculation that President Biden could release oil from the U.S. Strategic Petroleum Reserves.  On Sunday, Senate Majority Leader, Charles Schumer asked the Biden administration to tap into the reserve before the holiday season.  “We’re here today because we need immediate relief at the gas pumps and the […]

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Gas Prices Rising Again After Brief Lull

Anyone frequenting a gas pump this summer has noticed a dramatic increase in cost compared to last year’s driving season, and industry analysts don’t see things changing in the near future. In the week leading up to July 26th, America’s average gas price dropped two cents to $3.15 per gallon. The American Automobile Association (AAA) […]

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Colonial Pipeline Shut Down

The Colonial Pipeline has been shut down since Friday, May 7th after a cybersecurity attack.  It is the largest fuel pipeline in the United States that runs from Texas to New Jersey and transports roughly forty-five percent of the East Coast’s fuel supply.  Colonial transports 2.5 million barrels per day of gasoline, diesel, jet fuel […]

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Will Pennsylvania Raise Gas Taxes Again? Update

Last December I wrote about the proposed Transportation and Climate Initiative (TCI), which would require wholesalers of gasoline and diesel in participating states to buy carbon credits to sell their fuel.  As a result of the COVID-19 pandemic, the TCI jurisdictions have adjusted their timeline for developing the program, and a final Memorandum of Understanding […]

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The Squeeze is On

The thinly traded holiday gasoline market bottomed out on December 24th with a NYMEX low of $1.2352 per gallon. Here we are a few days into the New Year trading at a high of $1.4146. Here’s what happened to push prices higher.

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