Energy News

A resident looks at the price of gasoline at a gas station in Miami's South Beach, Florida April 23, 2008. (Carlos Barria/Reuters)

U.S. gasoline price marks biggest drop ever: survey

Reuters - 1 hour, 41 minutes ago

NEW YORK (Reuters) - The average price of a gallon of gasoline in the United States recorded its largest drop ever as consumer demand continued to wane and oil prices slid, a prominent industry analyst said on Sunday.

  • Republican vice presidential candidate, Alaska Gov. Sarah Palin waves as she arrives for a campaign rally in Johnstown, Pa., Saturday, Oct. 11, 2008. (AP Photo/Keith Srakocic)
    Palin has mixed record as fiscal conservative AP - 2 hours, 27 minutes ago

    ANCHORAGE, Alaska - Alaska Gov. Sarah Palin, the Republican nominee for vice president, bills herself as a fiscal conservative. But her record looks little like the classic conservative who favors less government and lower taxes.

  • Security officers overlook a street from a rooftop of the OPEC headquarters in Vienna. Iran on Sunday predicted that OPEC would cut oil output at its November meeting in Vienna, the state-run television news website reported.(AFP/File/Joe Klamar)
    Iran predicts OPEC to cut output at November meeting AFP - Sun Oct 12, 1:33 PM ET

    TEHRAN (AFP) - Iran on Sunday predicted that OPEC would cut oil output at its November meeting in Vienna, the state-run television news website reported.

  • Iraq to begin first oil bid round in London AP - Sun Oct 12, 11:25 AM ET

    BAGHDAD - Iraq's oil minister will meet Monday in London with representatives of international oil companies for the first round of bidding for new contracts in the country since the U.S.-led invasion in 2003, the minister's spokesman said.

  • Peruvian President Alan Garcia, seen here in September 2008, on Saturday named Yehude Simon, a leftist governor once jailed for alleged links to outlawed Tupac Amaru rebels, as the country's next prime minister.(AFP/File/Nelson Almeida)
    Peru's president names leftist as new prime minister AFP - Sat Oct 11, 7:28 PM ET

    LIMA (AFP) - Peruvian President Alan Garcia on Saturday named Yehude Simon, a leftist governor once jailed for alleged links to outlawed Tupac Amaru rebels, as the country's next prime minister.

  • This August 2008 handout from Greenpeace shows an Indonesian labourer felling a tree in preparation for the expansion of the Duta Palma Palm oil plantation in the Indonesian Province of Riau. Palm oil companies are clearing massive swathes of untouched forest in Indonesia's remote easternmost Papua region, according to the environmental group.(AFP/GREENPEACE-HO/File)
    Palm oil clearing swathes of forest in Indonesia's Papua: Greenpeace AFP - Fri Oct 10, 2:05 PM ET

    JAKARTA (AFP) - Palm oil companies are clearing massive swathes of untouched forest in Indonesia's remote easternmost Papua region, environmental group Greenpeace said Friday.

  • A cargo ship is loaded in the Port of New Orleans in 2007. The US trade deficit fell 3.5 percent in August to 59.1 billion dollars amid a drop in imports and weaker oil prices(AFP/File/Paul J. Richards)
    US trade gap shrinks amid softer global economy AFP - Fri Oct 10, 12:01 PM ET

    WASHINGTON (AFP) - The US trade deficit fell 3.5 percent in August to 59.1 billion dollars amid a drop in imports and weaker oil prices, government data showed Friday.

  • US official: Central Asia gas deal is close AP - Fri Oct 10, 11:42 AM ET

    ROME - A U.S. official said Friday that a deal may be reached soon allowing natural gas from ex-Soviet nations to reach western Europe without crossing Russian territory.

  • A Pakistan employee fixes a new petrol price on a board in Karachi, July 2008. The International Energy Agency (IEA) said that approaching recession and a banking cash crisis are cutting deeply into global demand for oil.(AFP/Asif Hassan)
    Looming recession, cash crisis cut oil demand: IEA AFP - Fri Oct 10, 6:53 AM ET

    PARIS (AFP) - Approaching recession and a banking cash crisis are cutting into global demand for oil and may set back investment in new oilfields, the International Energy Agency said on Friday.

  • Republican vice presidential candidate, Alaska Gov. Sarah Palin speaks to supporters at a rally at the Center Court Sports Complex in Waukesha, Wis., Thursday Oct. 9, 2008. (AP Photo/Darren Hauck)
    Palin wrongly suggests Congress bans oil exports AP - Thu Oct 9, 9:03 PM ET

    WASHINGTON - Alaska Gov. Sarah Palin, touted by GOP presidential candidate John McCain as his expert on energy, seemed to have problems Thursday explaining whether the government bans oil exports — especially from her state's North Slope fields.