Gas Prices

1:36pm

Mon August 20, 2012
Planet Money

Why It Seems Like Gas Prices Only Go Up

Originally published on Tue August 21, 2012 8:14 am

Despite rising in the past few weeks, gas prices are still lower than they were this spring.
Paul Sakuma AP

On Aug. 1, 2011, unleaded gas cost $3.70 a gallon, on average. As of last week, the average price of unleaded gas was $3.70 a gallon. The same as last August.

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12:10pm

Wed August 15, 2012
Planet Money

Everybody Always Thinks Inflation Is Higher Than It Really Is

Originally published on Thu August 16, 2012 8:30 am

Tony Gutierrez AP

The world is going to hell, and prices are going through the roof. This, more or less, seems to be the perpetual conventional wisdom.

The first half of the statement is debatable. But the second half is clearly wrong at the moment: Prices are not going through the roof.

Prices for U.S. consumers rose by just 1.4 percent over the past year, according to the consumer price index numbers released this morning. In other words, inflation is very low.

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3:52am

Mon August 13, 2012
Business

Gasoline Prices Keep Moving Higher

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news starts with a spike in gas prices.

Gasoline prices jumped 18 cents over the last couple of weeks. That's the biggest increase so far this year. The Lundberg Survey shows that heading into the weekend, the national average price of a gallon of self-serve was $3.69. Now, analysts say the spike is in part because of some refinery and pipeline issues around the country.

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6:51am

Wed June 13, 2012
The Two-Way

Sharp Drop In Gas Prices Puts Brakes On Inflation

Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline, the Bureau of Labor Statistics reports. The overall decrease is the largest in one month since July 2009.

Excluding the energy and sectors, prices at the wholesale level ticked up 0.2 percent.

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3:51pm

Thu May 31, 2012
Energy

Gulf Refinery Expansion May Not Cut Gas Prices

Originally published on Mon June 4, 2012 5:44 pm

Expanding the refinery at Port Arthur, Texas, took five years and $10 billion. The facility can now process 600,000 barrels a day.
Motiva Enterprises

In Texas recently there was a grand opening for what is now the largest refinery in the U.S. Shell and Saudi Arabia's national oil company, Saudi Aramco, have more than doubled the capacity of their Port Arthur refinery.

The refinery business has been going through a tough period in recent years. Americans are buying less gasoline and other petroleum products — about 10 percent less than in 2005, according to the U.S. Energy Information Administration.

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