Nearly 69% of U.S. crude oil imports originated from five countries in 2011
(03/27/2012)
The amount of crude oil the United States imported from its top five foreign suppliers—Canada, Saudi Arabia, Mexico, Venezuela, and Nigeria—increased slightly during 2011, even though total U.S. crude oil imports fell to their lowest level in 12 years. As a result, the crude oil from these five countries accounted for a bigger share of overall U.S. crude oil imports, nearly 69%, or just over 6.1 million barrels per day.
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Gasoline prices rise due to increased crude oil costs
(03/26/2012)
The national average price of regular grade gasoline averaged $3.58 per gallon for the month of February 2012, representing a 37-cent (11.5%) increase compared to February 2011 and an historic high for the month of February in both real and nominal prices. However, as a result of vehicle fuel economy improvements, costs-per-mile-driven are not at record highs. Further, gasoline prices vary significantly by region, with average prices on the West Coast almost $1 per gallon more expensive than those in the Rocky Mountains. The seasonally-high retail prices are mostly a result of global crude oil prices, which have also been at record levels for this time of year.
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