According to a GasBuddy. com survey of the gas prices at the US pumps last week, the cost of one gallon of gas in all 50 states is more than $3. The figures released by GasBuddy show that the national average price of regular gas is $3.34 per gallon; marking a 5-cent increase over the previous week figures.
The Senate Energy & Natural Resources Committee recently said that it was closely monitoring the implications of increasing oil production in the United States, hinting that the White House could soon revise the decades old limits on crude exports.
When contacted, Obama spokesperson Matt Lehrich didn't rule out a revision in the country's crude export limits.
French oil & gas giant Total is all set to make a huge investment in the UK's burgeoning shale gas industry, according to a recent report by the BBC.
Citing anonymous source, the BBC said Total will invest 30 million pounds (nearly US$50 million) in drilling for shale gas in Lincolnshire in central England.
After a weekend advancement over nuclear program of Iran, the prices of oil has been decreased on Monday.
The January delivery for standard U. S. crude was recently down by 1.6% at $93.32 in electronic dealing on the New York Mercantile Exchange. Brent crude oil prices were declined by 2% to about $108.82 a barrel.
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