GasBuddy Blog -- Many people have asked and continue to wonder- "why are gas prices rising?" There are many answers, all of which are quite complicated. See- gasoline prices are complicated. How prices are determined, how wholesale prices rise and drop- its not easy to figure out.

I thought that many would like to know- what's driving gas prices today? There are a few factors, some more responsible than others, for prices rising as of late. Keep in mind these factors are all my opinion- there's no ultimate answer to what is most responsible- but I'll try to state what I believe and keep any bias to a minimum, or better yet- have no bias.

Factors currently behind gasoline prices:

1) The U.S. economy/Jobs. As of the last few weeks...  (read more)

USA TODAY -- The claims facility now processing emergency payments for victims of the Gulf of Mexico oil spill inherited from BP thousands of languishing business claims, a jumbled database and hundreds of individual claims of loss with no documentation, independent claims administrator Ken Feinberg says.

Nearly three weeks after Feinberg took over the claims process from BP, it remains a logistical tangle of unpaid requests for help and missing documentation, while thousands of Gulf Coast residents and businesses wait for relief. Feinberg is pledging to move faster while also imposing new rules intended to prevent fraud.

Sport-fishing charter boat captain Mike Ellis, who works out of Cypress Cove Marina in Venice, La., says his boat engine clogged with oil and needed $5,200 in repairs. He filed a  (read more)

nytimes.com -- The Environmental Protection Agency sent letters to nine drilling companies on Thursday requesting detailed information about the chemicals contained in fluids used to crack open underground rock formations in the hunt for oil and natural gas.

The move is part of the federal agency’s preparations for a long-term scientific study of the effects of the practice, known as hydraulic fracturing or “fracking,” on drinking water and public health.

“Natural gas is an important part of our nation’s energy future, and it’s critical that the extraction of this valuable natural resource does not come at the expense of safe water and healthy communities,” the E.P.A. administrator, Lisa P. Jackson, said in a statement.

The agency asked the companies to respond to its request within seven days a  (read more)

DailyTech.com -- One might think that Ford is a bit behind the times with fully electric vehicles. GM is launching the Chevy Volt and Nissan is launching the LEAF EV in 2010. Ford's battery electric vehicle (BEV), the Ford Focus Electric, won't land until late next year.

But Ford's taking electric cars seriously -- they're just being a bit smarter about it, offering more of a "portfolio" of different kinds of electric offerings...

[READ the article before posting a remark, OK?]  (read more)

CNBC -- SAN JUAN, Puerto Rico - Puerto Rico is embarking on a test project for converting algae to oil as part of a campaign to lessen the U.S. territory's dependence on expensive imported oil.

A local company running the program that was announced Thursday said it expects to harvest eight types of algae from more than 2,000 acres (809 hectares) at an abandoned shrimp farm it is taking over in the northern coastal city of Dorado.

Puerto Rico's power company, the Electric Energy Authority, will mix the algae oil produced by the project with diesel and other types of fuel to produce electricity, agency spokesman Carlos Monroig said.

The goal is to produce more than 2 million gallons of oil a year.

"This is a first step," Monroig said. "We have to lower the price of fuel and power."

Pu  (read more)

2.highlandstoday.com -- There's good news at the convenience store pump: Labor Day is over, which traditionally means gasoline prices will go down.
The national average price for gasoline has been falling through August, when it usually rises..

Now the crucial question: how low will it go?
A plunge in wholesale gasoline prices earlier this month continues to push down prices at the pump, PFGBest analyst Phil Flynn told the Associated Press. Gasoline supplies are nearly 12 percent above the five-year average, and demand is below pre-recession levels.

"We're going into the weakest demand period of the year, Typically, after Labor Day,.. demand drops and refineries begin a maintenance period as they.. prepare the switch..from the summer blend fuel to the winter blend. The winter blend fuel is less expensive  (read more)

USA Today -- Just when its future looked to be in doubt, automakers are putting some new life in the old V-8.

Despite pressure from federal gas mileage rules ratcheting up, makers are selectively peppering their lineups with the iconic engine — known for smooth, high-torque power — that many thought was an endangered species. These days, however, it likely is reserved for luxury or performance models.

Last week, Ford Motor said a hulking 6.2-liter V-8 will power its off-road performance pickup, the super-size Ford F-150 SVT Raptor SuperCrew cab. And Chrysler Group said its new 2011 Dodge Durango "performance SUV," a three-row crossover due later this year, will have an optional 5.7-liter Hemi V-8, as well as a standard V-6.  (read more)

GasBuddy Blog -- The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

Crude oil inventories decreased by 1.9 million barrels to a total of 359.9 million barrels. At 359.9 million barrels, inventories are 22.4 million barrels above last year (6.6%) and remain above average. Supply at NYMEX delivery point, Cushing, Oklahoma decreased some 300,000 barrels to 35.5 million barrels this week. Supplies at Cushing have decreased for the last five consecutive weeks.

Gasoline inventories decreased 0.2 million barrels to 225.2 million barrels. At 225.2 million barrels, inventories are now 18.0 million barrels, or 8.7% higher than last year (last...  (read more)

Los Angeles Times -- The ultimate sealing of BP's gulf oil well may not get underway until late this month or early October because experts want more time to analyze the well, fish out a broken pipe and possibly apply another cement seal on the top for "more insurance" against unlikely troubles, a top federal official said.

National spill-response chief Thad Allen, in a conference call with reporters Wednesday, reiterated his promise that there was "no threat" of oil leaks from the well now that a stronger blowout preventer had been placed on top of it.

The new equipment gives experts the luxury of taking a few extra steps to ensure that they will not encounter problems with the final "bottom kill." During this procedure, the original well's outer ring, or annulus, will be intersected underground with a  (read more)

ABC News -- These odd and quirky attractions lure in motorists to out-of-the sights.

Nothing says America like a great road trip. And nothing makes the adventure better than running across some of the odd and quirky attractions aimed to lure in motorists.

Chicken Boy was originally part of a fried chicken stand, dating back to the 1960s. But after the stand closed, the statue was moved to the rooftop of Future Studio Design & Gallery on Historic Route 66 in Highland Park, a neighborhood just north of downtown Los Angeles. The 22-foot tall fiberglass man-bird now symbolizes a roadside culture that is fading away.

 (read more)

GasBuddy Blog -- Do you know what type of fuel your vehicle manufacturer recommends? I'm sure you, like many people, know what type of gasoline is recommended- but I also know that some people ignore that suggestion. I also know looking at statistics that many more people are likely to ignore that recommendation (or even requirement) in times of economic uncertainty or a recession.

Its very interesting to compare gasoline sales (in grade- regular, mid-grade, and premium) during normal times to those times when the economy has been in recession.

For this comparison and analysis, I used gasoline sale data from the Department of Energy, which has kept records on gasoline sales by type of fuel going back to 1983 (in most cases). I also looked...  (read more)

CNN Money -- In May, less than a month after the blowout of the Deepwater Horizon oil rig in the Gulf of Mexico, a key milestone was achieved with little notice: Total U.S. supplies of petroleum and products refined from it (including the Strategic Petroleum Reserve) surpassed 1.8 billion barrels, reaching the highest level in the last 20 years. Since then the total has continued to edge upward, hitting 1.87 billion barrels in the week ended August 27, according to the Energy Information Administration.

Despite the Iraq War and the resulting production disruptions, despite the moratorium on drilling in the Gulf....

the United States has more petroleum on hand today than it has had since at least the beginning of the first Gulf War.  (read more)

Discovy News -- A team of Swiss researchers has released conclusive data showing that the environmental impact of an electric vehicle is much less than previously thought.

As any EV advocate will tell you that electric vehicles are extremely green when fueled from renewable energy such as solar or wind power. And even those fueled from non-clean power sources, such as gas, oil and coal are less polluting than gasoline cars.

But EVs have a sinful side that cannot be ignored. Batteries.

Some of the most vocal anti-EV spokespersons say that mining the minerals and metals used in electric car batteries is much more damaging to the planet than drilling for the oil that fuels gasoline cars.

 (read more)

The Associated Press -- LAS VEGAS — With clean-energy legislation trapped in a political deadlock, renewable-energy advocates called big business the new leader in the nation's green revolution during a national summit meeting Tuesday.

John Podesta, president of the Center for American Progress, said untapped potential in the sustainable energy market could revive the stalled economy and end the recession.

"The focus now has got to be on getting these worlds and mechanisms together to finance innovative, renewable technology," Podesta said.

The Center for American Progress Action Fund and Democratic Senate Majority Leader Harry Reid hosted the third in a series of national clean-energy summit meetings Tuesday at the University of Nevada, Las Vegas. More than 40 people rallied outside the event, with some  (read more)

The Street -- Oil prices may trade lower this week on rising inventories. Last week, U.S. Energy Information Administration reported that crude oil stockpiles rose. Meanwhile, Baker Hughes(BHI) rig count stands at 977, up 4 from the penultimate week. Rising rig counts and higher refinery utilization shows an increase in production, leading to a decline in oil prices.

However, major economic releases are expected to be positive for the economy, which may improve oil prices to some extent later. Overall, oil prices are expected to end the week on a negative note.

Crude futures for October delivery declined 0.75% after hitting a low of $71.53 per barrel, and ended the week on a bearish note at $74.60. Crude is trading below the major trend line resistance and has a potential to fall further. Momentum ind  (read more)

GasBuddy Blog -- As summer comes to a close, so does the peak demand season for motor gasoline in the United States. Typically, gasoline prices weaken in the autumn months as demand for gasoline drops. Here are some supply and demand numbers from this summer and how this year compared to last year and years past.

We began summer 2010 (Memorial Day weekend) with nearly 219 million barrels of gasoline in inventories. This compared to 203 million in 2009, 209 million in 2008, 198 million in 2007, and 209 million in 2006.

We're finishing summer 2010 (Labor Day weekend) with 225.5 million barrels of gasoline available. This compares to 205 million in 2009, 194 million in 2008, 191 million in 2007, and 206 million in 2006.

Demand...  (read more)

Eco-Business -- Singapore, September 7 - Efforts to harness the sun’s energy are spreading in the heartland.

The Housing Board recently bought solar photovoltaic panels worth about $2.3 million for various residential estates. In total, the panels are expected to produce 170 megawatt-hours of energy each year which, said an HDB spokesman, would represent about $40,000 in savings a year per precinct.

The HDB began installing solar panels in the estates of Serangoon and Wellington in December 2008. Since then, the price of solar panels has dropped by more than half, from $5.17 a watt-peak to $2.33 a watt-peak.

While there are many options for renewable energy - hydropower, biofuel and wind among them - solar power could become a significant energy source in Singapore.

 (read more)

CSP News -- Nearly half (45%) of U.S. households are diligently seeking lower gas prices, The Nielsen Co. has found. The economy has consumers looking for cost savings across the board, even as they revert to some pre-recession habits, it said.

"Although gas prices are not as high as they were in mid-2008, they have been edging up for some time and continue to impact how consumers shop and buy," said Todd Hale, senior vice president, Consumer & Shopper Insights, Nielsen. "Even though gas prices are reasonable relative to recent years, consumers continue to employ money-saving strategies, such as using coupons and gas purchase incentives, as means to deal with gas costs given overall economic concerns."  (read more)

Associated Press -- WASHINGTON – Federal scientists are reporting the best possible scenario for BP's leaked oil: Microbes are munching the underwater oil, but not robbing the Gulf of Mexico of much needed oxygen or creating so-called "dead zones."

Oxygen levels in some places where the BP oil spilled are down by 20 percent, but that's not nearly low enough to create the dead zones where fish can't live, according to a 95-page report released Tuesday.

Trying to disperse the oil underwater is like walking a tightrope. In an unusual move, BP released 771,000 gallons of chemical dispersant at the leaking well head, about a mile deep, instead of just on the water surface to break up the oil into tiny droplets.

That makes it easier for the oil-eating microbes to do their job, but in doing so they deplete  (read more)

NY Times -- Germany extends the life spans of their 17 nuclear plants while alternative energy sources are developed.

New taxes levied on utility companies will be used to help develop renewable energy sources. Germany can not afford to get rid of nuclear power because “It is a bridge”.

German law, passed by a previous government in 2002, requires the last nuclear power plant to be shut by 2022. That decision, bitterly resented by the nuclear energy companies, was largely supported by the German public, which has a deep aversion to anything nuclear, a sentiment that intensified after the nuclear accident at Chernobyl.

A survey in July found that 81 percent of Germans said the country could not do entirely without nuclear power, up from 59 percent five years ago.
 (read more)

Honolulu Star Advertiser -- With a surge of renewable energy projects in the pipeline, Hawaii's electric utilities are working overtime to modernize their generation systems that for decades have relied on traditional oil-fired power plants.

Recent installations of photovoltaic panels in Kaunakaki, Molokai, mean an estimated 15 percent of electrical generation comes from the sun, pushing the circuit to the maximum level.

The issue is top priority with the goal of generating 40 percent from renewable sources by 2030.

The intermittent nature of renewable electricity, mainly solar & wind. That creates instability that, if not offset with generation from firm sources, could cause customers to lose power.

Plans proceed to bring 400 megawatts of electricity to the island via an undersea cable from wind farms.
 (read more)

Softpedia News -- Geothermal energy could be the solution to all our energy needs – present and future, experts say. The source is nearly inexhaustible, and is located just under our feet. We only need to reach out and take it.  (read more)

Sacramento Bee -- It's certainly no secret that the oil industry remains deeply embedded in Louisiana culture. Not only does it employ tens of thousands of people, but it is also the economic engine state leaders depend on as they struggle to recover from the devastation of Hurricane Katrina. Even so, it was something of a surprise earlier this summer when the first round of lawsuits over the BP oil spill reached a federal court in downtown New Orleans.

One of the judges on the court - the U.S. District Court for the Eastern District of Louisiana - recused herself because she owns stock in BP. Another bowed out because her husband holds stock in the firm. Several others stepped aside because they have family members who are involved in BP litigation.  (read more)

AFP -- The number of vehicles on China's roads will more than double to at least 200 million by 2020, a top official was quoted Monday as saying, further straining the nation's environment and energy supply.

China must make it a top priority to develop fuel-efficient and alternative energy cars, the China Securities Journal said, citing Wang Fuchang, vice minister of the Ministry of Industry and Information Technology.

China's auto sales hit 13.64 million units last year, overtaking the United States as the world's top car market, while sales this year are forecast to hit 15 million units.

The surging car use has brought mounting concerns over pollution, soaring energy demand, and traffic gridlock.  (read more)

Bloomberg -- Hedge-fund bets against gasoline exceeded wagers that prices will rise for the first time in almost four years as the fuel fell in the final week of the U.S. driving season.

Net-short positions held by money managers in gasoline futures and options increased to 1,169 contracts the week ended Aug. 31, the first time speculators have been bearish since November 2006, according to the Commodity Futures Trading Commission’s weekly Commitments of Traders report. Hedge funds cut bullish bets for four straight weeks.

Investors have turned bearish on gasoline amid a slide in demand just as the motoring season ends and economic data sends mixed signals about U.S. recovery.  (read more)