gasoline

For the first time in more than three-and-a-half years the average price for gasoline fell below $2 a gallon, according to the latest figures released Friday from motorist group AAA.

The price of oil continued to fall Thursday after a government report showed the nation's supplies of crude and gasoline grew more than expected last week.

Oil prices fell below the $90-a-barrel level Wednesday after the government reported a sharp increase in the nation's supplies of crude and gasoline, in another sign that demand for energy remains weak.

Oil prices retreated Wednesday after the government said gasoline demand weakened last week - even as supplies of crude and gasoline decreased more than expected.

Oil prices remained lower Thursday after the government's weekly supply report showed the nation's crude stockpiles shrank unexpectedly last week , but also indicated a smaller reduction in gasoline stockpiles than expected.

Oil prices bounced back Tuesday as the dollar weakened and investors worried that a predicted fall in gasoline supplies could cause refineries to step up crude use.

The Environmental Protection Agency has denied a request by officials in Texas to reduce the ethanol requirement for gasoline nationwide.

Gov. Rick Perry asked for the temporary reduction to try to bring down the price of corn — a major issue for livestock operations in the state.

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The Bush administration wants ethanol in gas tanks and has mandated that more than 11 billion gallons of it be made next year.

The debate is whether, and how much, ethanol is to blame for rising food prices. Consumers may not realize that the ethanol mandate may also be raising the price of diesel gasoline.

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The average retail price for gasoline in Texas rose two cents this week to reach $3.98. For the Austin-San Marcos area, it's $3.97, up just over a cent from last...