Pump prices may dip after Labor Day
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Pump prices have been climbing in advance of Labor Day, as they often do before the last major drive-away weekend of the summer. The average price for self-serve regular
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Crude oil prices may fall this week as companies including Royal Dutch/Shell Group restart platforms and tankers resume shipments in the Gulf of Mexico after Hurricane Ivan
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Gas prices have dipped slightly since last month, but the good news at the pump might not last, an industry analyst said Sunday.
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The US Labor Department said Friday the producer price index rose 0.5 percent in November after jumping 1.7 percent in October. Labor said the slowdown reflected an 0.7 percent drop in gasoline prices after surging 17.3 percent in October.
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The Labor Department will release the August Consumer Price Index this morning at 8:30 a.m. EDT. In July, the CPI fell slightly due to falling gasoline prices. Also due this morning are jobless claims, which economists expect to increase by 26,000 to 345,000.
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WASHINGTON -- With the economy shifting into a slower gear and inflation apparently retreating, Federal Reserve officials are likely to pat themselves on the back for engineering a soft landing and leave interest rates alone.
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Oil prices were dragged down today by heavy losses on U.S. gasoline as summer driving demand failed to meet expectations.
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By Michael Patterson  Growing inflation concerns sent stocks to their biggest two-day decline since March on Wednesday after first-quarter labor costs rose more than forecast.
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OIL prices fell today despite new sabotage attacks on Iraqi pipelines and worries about tropical storm Frances, with the New York market closed for the Labour Day holiday.
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U.S. retail gasoline demand slipped last week amid an uptick in pump prices, sending purchased volumes below year-ago levels for the first time in nearly five months, MasterCard Advisors said on Tuesday.
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A rebound of core producer prices in  June despite a temporary reduction of energy costs according to  a Labor Department report on Tuesday reinforced investors  expectations for the Federal Reserve to hold interest rates  unchanged to guard against inflation.
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Gasoline prices extended their slide at the pump Wednesday, while oil and gasoline futures gained on a surprise decline in gas inventories.
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Consumer inflation dipped unexpectedly last month thanks to falling gasoline prices while new home construction hit a 12-year low as the housing slump continued to dim the outlook for growth.
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US gasoline pump prices fell about five cents in the past two weeks to an average of $1.96 a gallon, Trilby Lundberg said, citing a survey of about 7,000 filling stations by her Camarillo, California, research firm.
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Falling crude oil prices this week suggest that Americans might dodge the surge in gasoline prices that experts had predicted for the weeks leading up to the Labor Day weekend.
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It's back: $2 gasoline. After sliding steadily from late June through the Labor Day weekend, the average price for a gallon of self-serve unleaded gasoline in Massachusetts was back up to $2.01 yesterday, according to the most recent survey by the American Automobile Association. The nationwide average also crossed over the $2 threshold between Sunday and yesterday, AAA said.
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U.S. oil prices kept a strong tone on  Friday as disruptions to global oil flows dogged the market  ahead of the Labor Day holiday weekend in the United States.