Eastern Idaho prices hold steady this week
MGN Online
IDAHO FALLS, Idaho (KIFI) – At first glance, Idaho gas prices were stable this week, with the state average increasing by just two cents. But things were much more volatile at the local level, with significant price jumps in some areas and little or no movement in others, according to AAA.
In the Treasure Valley, it’s about four cents more expensive per gallon to fill up this week, and anywhere from five to seven cents more in the Panhandle. Meanwhile, drivers in the Magic Valley and parts of Eastern Idaho are paying about the same to fill up as a week ago.
UPDATE 1-Saudi Arabia could ease fiscal adjustment to help recovery, IMF says Reuters 3 hrs ago
By Davide Barbuscia
DUBAI, May 3 (Reuters) - Saudi Arabia s plans to balance its finances are making good progress but a slower pace of adjustment could be considered this year to support the recovery from the coronavirus crisis, the International Monetary Fund said on Monday.
Saudi Arabia s economy, the largest in the Arab world, is expected to grow 2.1% in 2021 after shrinking 4.1% last year amid the twin shock of the pandemic and lower oil prices, the IMF said in a report.
The forecast figure is lower than a 2.9% real gross domestic product (GDP) growth estimate the IMF published last month due to a downward revision of Saudi oil GDP, now expected to contract by 0.5% this year, against an earlier 1.6% growth estimate.
WCCB Charlotte s CW
May 3, 2021
Charlotte, N.C. (News Release) – Gas price averages in the Carolinas saw minimal changes in April compared to March. Stable crude oil prices amid fluctuating demand helped to keep larger price jumps at bay last month.
“We saw very little changes at the pump last month, but with spikes in demand we’ll likely see much larger increases – especially closer to Memorial Day weekend,” said Tiffany Wright, spokesperson, AAA – The Auto Club Group in the Carolinas. “Compared to May 2019, gasoline demand is down by only 4% right now.”
North Carolina’s gas price average now sits at $2.67, seeing a 5-cent increase on the week. This is still 5 cents more expensive than a month ago and $1.03 more expensive than last year. South Carolina’s gas price average now sits at $2.60, seeing a 1-cent increase on the week. This is still 1 cent more expensive than a month ago and $1.05 more expensive than last year. Both states are still a part of the nat
Oil rose more than 1% on Monday as Chinese economic figures and U.S. vaccination rate pointed to a strong rebound in demand in the world's two largest economies.
Canadian oil giant
Suncor Energy (TSX:SU)(NYSE:SU) is set to report its earnings for the first quarter of 2021 on May 3. The stock has taken a battering in 2020 and is still trading over 50% below its five-year high $55 it hit in October 2018.
However, the second quarter of 2021 could be the period when its fortune starts to change. The price of oil has consistently been going up since it went into negative territory last April. Crude oil is now trading at US$63.71. As the global economy reopens and starts to recover, oil prices should move higher. So should Suncor’s market cap.