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Toyota, Mazda, Honda Set to Resume Output

Carmakers Mazda and Honda and more than half of Toyota's shuttered assembly lines will restart at least some production over the next two days because a key parts supplier damaged by a major earthquake resumed operations Monday, according to the Associated Press.

Posted by   at 12:50 PM to Honda , Nissan , Toyota | Permalink | Comments 0

Gas Prices, Energy Futures Fall

Gas prices dropped below a national average of $3 a gallon over the weekend, while energy futures had their own decline on Monday on suggestions that OPEC may increase its output, according to the Associated Press.

Hasan Qabazard, research director of the Organization of Petroleum Exporting Countries, told Dow Jones Newswires he thinks oil is fairly valued at $60 to $65 a barrel, leading some to conclude the cartel may be open to reversing its long-held position that oil supplies are adequate.

Posted by   at 12:49 PM to Gas prices | Permalink | Comments 0

Auto Talks Begin Between GM and UAW

The president of the United Auto Workers said Monday his union is not in the mood to make concessions during contract talks with U.S.-based automakers who say they need cost cuts to stay in business, according to the Associated Press.

The comments came after the traditional handshake between officials from the UAW and General Motors Corp., the nation's No. 1 automaker. The ceremony officially kicked off negotiations between the sides.

Posted by   at 12:46 PM to GM | Permalink | Comments 0

After 2 weeks of hikes, R.I. gas prices down 2 cents

Gasoline prices have dropped 2 cents over last week, after rising the two previous weeks, according to AAA Southern New England, according to the Providence Journal's projo7to7.
Today’s AAA survey of prices throughout the state found self-serve, regular unleaded gasoline averaging $2.95 per gallon. That puts Rhode Island prices 5 cents below the national average for regular unleaded gasoline. At this time a year ago, the average local price for gas was $3.08.

Posted by   at 12:43 PM to Gas prices | Permalink | Comments 0