Saturday, February 22, 2025
Higher Gasoline Costs Sent Consumer Price Index Soaring in April - Oil & Gas 360

Gasoline Consumption Remains Low Despite 4% Higher Travel

Increased vehicle fuel efficiencies keeping gasoline consumption low despite increased U.S. mileage Travel by vehicle is up almost 4% from its previous peak in 2007 in the U.S., but motor gasoline consumption remains below previous highs due to increased fuel efficiencies, reports the Energy Information Administration. Improvements in light-duty vehicle fuel economy have been the primary source for lower consumption

Banks Increasing Loan Loss Reserves as Exposure to Low Oil Prices Spreads

JP Morgan Chase & Co. increases oil and gas loan loss reserves by 61% JP Morgan Chase & Co. plans to increase its reserves to cover potential oil and gas loan losses by 61% this quarter, reports Reuters. The bank plans to set aside $500 million on top of the $815 million already in place to protect against loan loss