Tag: oil prices

By on February 25, 2019

While the 2019 fuel forecast calls for temperate prices at the pump, Goldman Sachs claims we could be in for a brief surge this spring.

Global oil production is expected to take a sizable hit next month. Saudi Arabia, along with the rest of OPEC, has been limiting production to prop up prices. Meanwhile, Venezuela is having trouble across the board. The nation’s ongoing political crisis has resulted in a steady decline in oil production since 2013, and U.S. sanctions effectively made doing business with Venezuela’s state-owned oil company, PDVSA, an impossibility overnight.  (Read More…)

By on December 20, 2018

Barely a day goes by when the TTAC chatroom doesn’t devolve into a discussion of the weird differences between the U.S. and Canada. Chris Tonn wants to take a Nissan Micra across Canada, eating various poutines along the way, while this writer drools over certain (unavailable) civil liberties offered just 45 minutes to his south. Vast gulfs in pricing and taxation usually spring up as topic fodder, too.

Given the amount of money yours truly forks over for gas, there’s additional drool reserved for U.S. pump prices. Various taxes heap, on average, an extra 38 cents on every liter of unleaded up here. That’s an extra $1.44 for each gallon, and the roads aren’t exactly paved in gold.

Now, imagine learning you’ve been paying way too much for three straight years. (Read More…)

By on January 7, 2018

pumping-gas fuel

Fueling prices and average economy aren’t exactly the sexiest of automotive topics, but they are the two that will probably influence your life the most directly in the coming year. Expensive gas thrusted countless Americans into economy cars during the early 1980s and 2000s, so any advanced warning would be useful to those considering a new vehicle this year.

Last month, crude prices surpassed $60 per barrel after weekly American output dipped and stockpiles fell. That’s the highest they’ve been in over two-years and, with OPEC cutting production and China hungrier for the black stuff than ever before, prices aren’t expected to drop anytime soon. Does that mean you should nix purchasing that big sport utility vehicle you’ve been eyeballing and option the greener alternative? (Read More…)

By on September 27, 2017

saudi driving

Saudi Arabia doesn’t have what one might call a “progressive mindset” toward women. The ultra-conservative country is, however, attempting to improve its global image by finally giving them the right to drive. Announced in a royal decree over state television and in a simultaneous media event in Washington, Saudi Arabia says it will let drivers of the female persuasion use roadways in June of 2018.

Rights groups and Saudi activists have long campaigned for the overturn of the country’s driving ban; some women have even been arrested and jailed for defying the prohibition and taking the wheel. In 2014, one woman was detained for 73 days after two women crossed the border from the United Arab Emirates.

However, the fact that women can soon drive in Saudi Arabia doesn’t mean they will. Concerns remain that religious leaders and husbands will still attempt to forbid women from getting behind the wheel of an automobile. (Read More…)

By on September 13, 2016

pumping gas

Automakers can expect a favorable environment for lucrative truck and SUV sales well into next year, as the right conditions come together for a continued oil glut. That heralds lower prices at the pump, less painful driving, and less scrutiny of EPA mileage figures on Monroney stickers.

Oil supply and inventories are rising, even as demand falls off sharply, while overseas interests are conspiring to keep prices down — and in their favor. (Read More…)

By on June 4, 2016

May 2016 average fuel economy

Drivers aren’t getting the same deal at the pumps as they were last winter, and the gas mileage of new vehicles shows it.

Researchers at the University of Michigan say the average sales-weighted fuel economy of new vehicles hit 25.4 miles per gallon in May, the highest figure so far this year. It’s still less than the all-time high set in August 2014, but it shows not every car buyer is going for the thirstiest vehicle they can afford. (Read More…)

By on May 21, 2016

2016_Toyota_Prius_001_2452A99B7A0DE853E9CCBFC12E5E78A937FFFBE2

It’s easy to understand Toyota’s enthusiasm for selling 9 million hybrids worldwide since 1997. (Well, 9.014 million, but who’s counting?)

After all, have you sold 9.014 million hybrids? Don’t lie. You haven’t.

Toyota’s announcement comes as the world’s largest automaker accepts a challenge (from itself) to bring the total number of hybrid models sold to 15 million by 2020. It will do that by introducing more hybrid versions of its vehicles, then selling — it hopes — 1.5 million of them each year. (Read More…)

By on January 6, 2016

Autodesk VRED Professional 2016 SP1

Started in New York City in 1967 as an offshoot of the Chicago Music Show, the Consumer Electronics Show has grown to capture the interest and intrigue of automakers. Las Vegas now has two auto shows.

That, Volkswagen’s unending stream of German-accented apologies, why Ford might not be hitching itself to Google and how you can become an automotive journalist* … after the break!

(Read More…)

By on December 30, 2015

Winterkorn, sending the wrong signals. Picture courtesy focus.de

Where do you end up if you’re the former CEO of a company guilty of cheating diesel emissions tests, the fallout of which wipes out billions of dollars of value from said company? Business Insider’s “The 15 biggest career crashes of 2015” list, of course.

That, and Nissan prices the new Sentra, oil is still on a well-lubricated downhill slide, Jeep is now online in India, and more … after the break!

(Read More…)

By on December 29, 2015

buick-envision-usa-1

A picture is worth a thousand words, or millions of dollars worth of cars not built by the United Auto Workers.

That, and Buick is planning a surprise for Detroit, oil prices are ever-so-slightly up, a super mullet El Camino, and Manny, Moe and Jack … after the break!

(Read More…)

By on December 15, 2015

Jag_Formula_E_Image_151215_02

This is the new News Round-up where we cover all the things you should know that may or may not deserve a headline on their own (or we may have simply run out of time to cover them). It’s similar to the “While Your Were Sleeping” news coverage, but not the same, hence the name change.

This morning, Jaguar announced they are going racing again, the automaker formerly known as Saab has a business plan and the Tesla Model X has a price spread that would make Porsche blush.

(Read More…)

By on December 9, 2015

2016ToyotaPrius_(7_of_10)

Toyota announced Wednesday it would lower its global sales goal for the 2016 Prius in light of low fuel prices curbing sales of fuel-efficent vehicles.

According to Reuters, Toyota’s new target is to move an annual average of 300,000 to 350,000 Prii out of the lot around the world, compared to the 300,000 to 400,000 annual sales average sought for the outgoing model. A company representative said a decline in global sales of the hybrid since 2013 was one of the reasons behind Toyota’s decision.

(Read More…)

By on June 4, 2015

EDI_mpg_May-2015

Things are looking up for U.S. new-car fuel economy, as the average climbed 0.3 mpg in May to 25.5 mpg.

(Read More…)

By on May 22, 2015

Ford Mustang Receiving Gas Circa April 2015

OPEC is doubling down on shoving shale off a cliff, continuing the trend of low fuel prices through the fall in so doing, Memorial Day Weekend aside.

(Read More…)

By on May 18, 2015

Entrance_OPEC_Headquarter_Vienna

Those hoping for a return to $100 per barrel of oil are in for a long wait, as OPEC says oil will remain below the price point through the 2020s.

(Read More…)

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