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US households spent record amount on gasoline last year: EIA NEW YORK: Households in the United States spent a record amount on gasoline last year, the US Energy Information Administration said on Monday, with more of their income going toward motor fuel costs than at any time since the 1980s.   The average household expenditure on gasoline hit $2,912 in 2012, the EIA said, or just under 4 percent of pre-tax income, as higher prices at the pump canceled out the effect of more efficient vehicles.   "This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount," the EIA said.   "Although overall gasoline consumption has decreased in recent years, a rise in average gasoline prices has led to higher overall household gasoline expenditures."   The previous record amount was just below $2,750 in 2008, according to a graph on the EIA's website, as crude oil prices spiked toward ...

US natgas futures turn lower despite near-term cold NEW YORK: Front-month US natural gas futures headed lower on Friday in seesaw trading, with cold Northeast and Midwest weather forecasts for the next five days offset by the mild outlook for later next week that should slow heating demand.   "I think this is a tug of war of fundamentals. The next seven days are constructive for demand, but extended weather forecasts are still showing plenty of above normal temperatures for the eastern half of the ...
Death toll from Pemex blast in Mexico City jumps to 32 MEXICO CITY: The head of Mexico's state-run oil giant Pemex, Emilio Lozoya, said on Friday that the death toll from a powerful explosion that rocked the Mexico City headquarters of the company had risen to 32.   A blast shattered the lower floors of the downtown tower Thursday afternoon, throwing debris into the streets and sending frightened workers running outside.   More than 100 people were injured. Emergency workers continue to work on the site looking for more people ...
ExxonMobil profits rise on refining, chemicals NEW YORK: US oil giant ExxonMobil Friday reported higher fourth-quarter profits on better results in its refining and chemical divisions, which offset a drop in its exploration and production results.   ExxonMobil, the US's largest oil company, said net income for the fourth quarter came in at a $9.95 billion, up 6 percent from the year-earlier period of $9.4 billion.   The results overcame a five percent decline in ExxonMobil's oil-equivalent production compared with the year-earlier period.   ExxonMobil said overall ...
Oil prices push higher with equities NEW YORK: Oil prices moved higher Tuesday as equity markets continued to surge in the wake of strong earnings reports while the dollar weakened.   The price of a barrel of West Texas Intermediate rose $1.13 to $97.57 a barrel after having earlier touched $97.82, the highest level since September 17.   Brent oil futures in London settled 88 cents higher at $114.36 a barrel.   The rise in oil prices and other so-called risk assets comes as the Dow Jones ...
Valero to run refineries at up to 95pc in 1st qtr HOUSTON: Leading US independent refiner Valero Energy Corp said it plans a combined throughput of 2.575 million barrels per day, or 95 percent of total capacity, at its 14 refineries in the first quarter.   But combined throughput could be as low as 91.5 percent of capacity, or 2.485 million bpd, in the quarter, Valero said.   The San Antonio-based refiner is looking at up to $1 billion in projects to bring cheaper domestic US crudes to Gulf Coast ...
Oil rises as US housing data spurs optimism NEW YORK: Oil prices rose 1 percent on Tuesday after US data indicated a strengthening housing market, bolstering hopes of accelerating economic growth and fuel demand.   Financial markets rallied across the board on the data, which showed single-family home prices rose in November for the 10th month in a row.   Oil traders have been monitoring economic numbers for signs of a potential improvement in fuel demand. Markets were also awaiting the outcome of a two-day Federal Reserve policy ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln