Price at the Pump

For the second week of the new year, oil prices have moved higher.  Patrick DeHaan with GasBuddy.com said this most recent trend started last week.   “The Biden administration issuing harsher sanctions on shipping companies and vessels that would operate and take sanctioned crude oil from countries like Iran and Russia and deliver it to countries like China and India," DeHaan noted.  "Th

We’re only a week into the New Year, but oil prices have been moving for most of 2025.  Oil prices were trading around $74 per barrel Monday, reporting some of the highest prices seen in several months.  So, why the sudden jump in crude prices?   “Now there's som...

Typically, this time of year is lighter, and even a little slower in the world of business and economics, as many of us prepare for the holidays and the end of the year.  But that is not necessarily the case when it comes to oil prices and fuel prices.  Patrick...

We’re starting to sound like a broken record, but oil prices really haven’t moved that much over the past week or so.  Patrick DeHaan with Gasbuddy.com said a barrel of West Texas Crude has traded in the high-$60 to low-$70 range since Thanksgiving.  And he doesn’t expe...

Oil prices continue the downward slide, falling to the lowest levels since 2021.  Patrick DeHaan with Gasbuddy.com said prices, now below $70 per barrel for West Texas Crude, have been welcomed relief for drivers and consumers.   “By all metrics, oil prices being down has been good for gasoline and diesel prices, which both stand at the lowest levels in some time.”   DeHaan not...

Oil prices continue to shed the gains they saw in late July.  A barrel of West Texas Crude dropped roughly $2 in the past week, and is now sitting below $75 per barrel.  Patrick DeHaan with GasBuddy.com said the past couple of weeks have been a bumpy ride for oil.   “There's b...

To say oil prices have been volatile to start the month of August may be a bit of an understatement.  After dropping notably, oil prices rallied in the past week to nearly $80 per barrel.   “Week before last, we saw a better than expected jobless figure that added to concerns that potentially we wouldn't see the Fed cut interest rates," noted Patrick DeHaan is with GasBuddy.com.  "And th

With many investors confident that the worst of the banking situation is behind us, oil prices are moving higher.  West Texas Crude prices increased roughly $4 in the past week, trading in the low-to-mid $70 per barrel range, which means gasoline prices are likely not far behind before moving up.  Despite...

Oil prices climbed slightly over the past two weeks following the news that Russia is going to trim oil production in the months ahead.  Patrick DeHaan with GasBuddy said while Russian oil is facing sanctions because of the invasion of Ukraine, that does not mean this production cut won’t impact international prices.   “Much ...

Recession fears dominated the headlines out of the World Economic Forum's meeting in Davos.  Those headlines continue to chip away at the optimism that stoked the market last week on prospects that fuel demand would increase in China.  The U.S...