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Diesel Price Rises; Refinery Closures Cause Uncertainty After Ida

The national average price for a gallon of diesel rose 1.5 cents to $3.339, according to Energy Information Administration data released Aug. 30. But that did not include fuel price increases or consider the damage resulting from Hurricane Ida.

August 30, 2021

As Ida Leaves Gulf, Analysts Foresee Modest Economic Damage

WASHINGTON — Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast. But the impact on the overall U.S. economy likely will be modest so long as damage estimates don’t rise sharply and refinery shutdowns are not prolonged, economists say.

August 30, 2021

FTC Targets Oil-and-Gas Deals, Franchises

The Federal Trade Commission is examining ways to crack down on mergers in the oil and gas industry and investigate whether gas station franchises are driving up gas prices as part of a Biden administration effort to combat higher costs at the pump.

August 30, 2021

Gas Price Pain Ahead if Refiners Face Restart Struggle After Ida

Some U.S. motorists who had been expecting an end-of-summer relief for gasoline prices should start bracing for higher costs at the pump in the coming days due to Hurricane Ida.

August 30, 2021

BYD Profit Falls 30% as Chip, Lithium Shortages Increase Costs

BYD Co., the Chinese electric-vehicle and battery maker backed by Warren Buffett, said first-half earnings fell as shortages of chips and lithium increased costs.

August 27, 2021

Rivian Files for IPO

Rivian Automotive Inc., the maker of electric pickups backed by Amazon .com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

August 27, 2021

OPEC+ Expected to Stick to Planned Output Hike

OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble.

August 27, 2021

Nuro to Build Autonomous EV Factory in Nevada

Nuro Inc., which has unmanned delivery pods scurrying around Southwestern streets, said that it will build a $40 million facility to assemble and test a new generation of autonomous vehicles in Nevada.

August 26, 2021

Gas, Diesel Will Be Cheaper in New Jersey Come Oct. 1

New Jersey’s gasoline tax will drop 8.3 cents to 42.4 cents a gallon on Oct. 1 after drivers were forced to pay more at the pump a year ago, state officials announced Aug. 24.

August 26, 2021