RSS
September 26, 2007 | Jim Lane | Comments 0

US gas prices fall from Labor Day highs; demand up 8.3%, price up 11.6% year-over-year

US Gasoline prices fell this week in the traditional post-Labor Day slump, but demand is up over the comparable period a week ago. MasterCard SpendingPulse reported that demand in the week ending Sept. 21 fell 1 percent from the previous week, but was up 8.3 percent over the same period in 2006. The retail price for unleaded gas, $2.79 per gallon, fell 1 cent per gallon for the week but was up 11.6 percent over 2006. Oil prices fell to $79.53 a barrel on the New York Mercantile Exchange.

In states such as Wisconsin, price hikes in gasoline are linked to biofuels because of mechanisms such as the Wisconsin Unfair Sales Act, which requires fuel retailers to sell at a minimum 9.18% markup over terminal prices.

A lawsuit has been filed by 42 gasoline retailers of 42 gasoline stations in Wisconsin against Utica Energy and Renew 85, for selling ethanol blended fuels at below the minimum market price. There have been complaints filed previously against biofuel retailers, but the Wisconsin State Governor had requested that no action be taken on the complaints.

Entry Information

Filed Under: Consumers & Fleets

Related Stories


  • Gasoline, ethanol prices begin to fall
  • Gasoline prices began dropping across the country this month as post-Labor Day drops in demand begin to be felt. The drop in Michigan was 14 cents per gallon from highs recorded over Labor Day weekend...
  • Corn, wheat, soy drop 3 percent as oil falls below $50 a barrel
  • At the Chicago Board of Trade, US corn and soybean prices fell more than three percent on Thursday as oil fell below $50 per barrel, the lowest since 2005. Traders said that the export outlook for cor...
  • Australian Labor Party reverses biofuels opposition
  • The Australian newspaper reports that the Australian Labor Party, facing an upcoming election later this year, has publicly endorsed the joint venture between BP and biofuels company Manildra. The Lab...
  • Bureau of Labor Statistics says food price increases in line with historic trendline
  • A study by the Bureau of Labor Statistics showed that the price increase for milk, cheese, meat, ice cream, eggs and malt beverages in April 2006 with April 2007 was 3.0 percent, vs a 25-year annual i...
  • BioFuel Energy delays opening of two ethanol plants; cites labor, building materials shortage
  • In Colorado, BioFuel Energy said that the start of operations at its two ethanol plants would be delayed to the end of the second quarter, due to building material and labor shortages. Each plant will...
  • US Federal Reserve releases report saying labor, energy are 42 percent cost of food, farm inputs 19 percent, as “blame battle” rages over food prices
  • The Federal Reserve Bank of Kansas City released a report saying that the marketing cost has increased from 59 percent of food cost in 1959 to 80 percent today, due to labor and energy costs. The Fed ...

    RSSPost a Comment  |  Trackback URL

    You must be logged in to post a comment.