Gasoline
UK strike threat boosts Europe oil product demand
Surging retail fuel sales in the UK amid a threat of a tanker drivers strike are supporting demand in Europe's diesel and gasoline markets. The higher premiums often provide a temporary boost to the struggling European refining sector, as they translate into higher profit margins.
US Senate defeats bid to end 'big oil' subsidies
Senate Republicans united to block a Democratic attempt to end roughly $20 billion in federal subsidies to the largest oil and gas companies, in a largely political vote that had little chance of approval. Democrats argued that ending unnecessary taxpayer subsidies would have no effect on the price of gasoline.
Airline industry executives call on governments to promote biofuels use
The global airline industry wants stronger government efforts to promote using biofuels, with new regulations and economic incentives for its production. Industry executives said the legislative framework, the still-high costs of biofuels and the availability of raw materials are the main challenges.
IEA data show high oil costs hurting EU consumers
Early data show that high oil prices in Europe have already started to eat into consumer spending in other areas and could push the region back into recession, says the chief economist of the IEA, Fatih Birol. Energy costs could eat up almost double their typical share of Europe's income this year.
US oil demand down in February as consumers switch to natural gas - API
Total US petroleum deliveries fell 2.3% this February compared with February 2011, pulled down by a decline in residual fuel oil (40.2%) and other oil (liquid petrochemical feedstocks, naphtha and gasoil) deliveries. The steep decline in residual fuel demand related to users switching to natural gas.
Romney to attack Obama over US gasoline prices
An improving job market is prompting Mitt Romney to focus on rising gas prices as evidence President Obama has mismanaged the economy. Obama's political team is concerned rising gas prices will diminish some of the political advantage the president may gain from the improving economy.
Essar commissions diesel hydrotreater unit in India
Essar Energy plc, the India-focused integrated energy company, announced that Essar Oil Ltd. has successfully commissioned diesel hydrotreater unit 1 (DHDT-1) as part of the Phase I expansion at its Vadinar refinery in India.
National fuel-retailing association speaks out on rising transportation fuel prices
"The retail fuels market is a complex system that is influenced by a wide number of factors. The best strategy for providing long-term relief and stability to consumers is to enact a comprehensive transportation energy policy," National Association of Convenience Stores (NACS) Vice President of Government Relations, John Eichberger, told Congress.
OPEC pins high oil prices on speculators, IEA warns of supply woes
Leaders of some of the world's largest oil producing nations Wednesday pinned current high oil prices primarily on market speculators, just as consuming nations warned that even present increased output levels are being more than offset by numerous supply problems.
Petrobras to boost gasoline, diesel imports in 2012
Brazil's Petrobras will need to import more gasoline and diesel fuel in 2012 as the company's refineries continue to fall short of domestic demand, Petrobras downstream director Paulo Roberto Costa said. Petrobras is also suffering from delays to refinery projects that will help trim the company's shortfall.
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