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Automotive News Archive30-Aug-2006Report Blames White House Inaction for High Gas Prices One year after the Administration's energy policy was signed into law, consumers are paying record high prices for gas and the majority of the cost increases have turned into profits for domestic oil companies. Porsche Takes J.D. Power Win Porsche came in first, winning the top spot in the J.D. Power and Associates 2006 survey of initial vehicle quality. Porsche beat out Lexus, last year's winner. Hyundai moved up, way up, to third. Toyota Looks at Plug-in Hybrid Toyota is considering a plug-in hybrid as well as ethanol-capable flex-fuel vehicles for the U.S. market, according to the president of Toyota Motor North America Inc. Gas Prices Subside 2.5 Cents Retail gasoline prices fell 2.5 cents over the last week to $2.87 a gallon and that is the lowest level in six weeks. Gas Prices Moving Up Again Gasoline prices are on the move again and they are on the move up. The average price for regular unleaded gasoline nationwide is now $2.87 a gallon and that is up two cents in a week. A New Gas Price Record, Maybe The national average for regular self serve gasoline has reached the highest price in 25 years according to the latest nationwide Lundberg Survey but the AAA tracking report posts the price just below the record AAA recorded following hurricane Katrina. Ethanol Benefits Questioned Ethanol would supply only 12 percent of America's motoring fuel, even if every acre of corn were used to produce fuel and not food, suggesting the fuel is no cure-all for U.S. consumers facing high gasoline prices. Gas Prices Top $3 in Much of the U.S. The average price of regular self-serve gasoline is now above $3 a gallon in 16 states and the District of Columbia while throughout the rest of the country the price lingers just below $3.
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