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Volvo Plug-In Hits the Road

Last fall Volvo showed off its ReCharge plug-in hybrid concept at the Frankfurt auto show. Now the Swedish arm of Ford says it’s going to press ahead with the plug-in program–and in fact, they’re already on the road, according to thecarconnection.com

C/Net, the car-tech gurus, reports that Volvo’s plug-in hybrid is on the road, in a test with the Swedish government. Also hooked into the program are colleagues over at GM’s Saab brand and the Swedish power company Vattenfall.

Over five years, the companies will field a fleet of 10 plug-in hybrids to evaluate their feasibility. Volvo says it’s also going to confirm which of its vehicles will go hybrid during the course of the next five years.

Posted by Peter C. T. Elsworth  at 3:48 PM to Volvo | Permalink | Comments 0

GM Recalls 200,000 Sedans Over Fire Risk

DETROIT -- General Motors Corp. is recalling 207,542 Buick Regal and Pontiac Grand Prix sedans over a risk they could catch fire, and warned their owners not to park the cars in garages until they are fixed, according to the Associated Press.

The automaker said Friday it is recalling the 1997-2003 Buick Regal GS and Grand Prix GTP models with 3.8-liter supercharged V-6 engines.

During hard braking, drops of oil can leak from the engine onto the exhaust manifold, and fires can start if the oil gets hot enough, the National Highway Traffic Safety Administration said on its Web site.

Posted by Peter C. T. Elsworth  at 3:41 PM to GM | Permalink | Comments 1

Gas, Diesel Rocket to New Records

Aloha! The price for regular unleaded in paradise nears $4 a gallon

NEW YORK -- The rally in energy prices gained momentum Friday, with retail gas prices rising further into record territory and diesel and heating oil futures setting records of their own amid concerns about strong global demand and tight supplies, according to the Associated Press.

Crude oil prices fell modestly as a downturn in the stock market and worries about the economy prompted some profit-taking. But with the Federal Reserve expected to cut interest rates again next week, analysts expect the dollar to weaken further, propelling crude to new records.

At the pump, gas prices set records for the 4th straight day, rising 1.3 cents Friday to a national average price of $3.28 a gallon, according to AAA and the Oil Price Information Service. Average prices are nearing $4 in some parts of Hawaii.

Diesel, meanwhile, rose 2.9 cents to a new record national average of $3.938 a gallon. Heating oil, a fellow distillate and close cousin of diesel, jumped to new records on the New York Mercantile Exchange.

Diesel, used by trucks, trains and ships, is used to move the vast majority of the world's goods. While the U.S. economy appears to be slowing, the global economy continues to grow.

"Demand for diesel worldwide has been incredible," said Phil Flynn, an analyst at Alaron Trading Corp., in Chicago.

April heating oil futures rose 6.43 cents to $3.1891 a gallon after earlier setting a new trading record of $3.222 a gallon.

Oil prices fell for a change Friday, following stocks lower after Bear Stearns Cos. acknowledged serious financial problems, and the Federal Reserve and JPMorgan Chase & Co. said they were working on a bailout.

Light, sweet crude for April delivery fell 39 cents to $109.94 on the Nymex Friday after rising earlier to within pennies of its latest trading record of $111, set Thursday.

Posted by Peter C. T. Elsworth  at 11:45 AM to Gas prices | Permalink | Comments 0

Photo: Nearly $4 a gallon in Maui

AP Photo
Mike Sweeney, in black truck, arrives at a gas station to fill up his truck in Kahului, Hawaii. Sweeney recently moved from Denver and was hit with the other side of living in paradise with his first visit to the gas pump. Residents on the island of Maui are paying more for a gallon of gas than anywhere else in the nation.

"After seeing the total, I won't be smiling," Sweeney said as he watched the numbers on the Chevron pump spin faster than a slot machine. The pump finally stopped at $97.20, which put 24.5 gallon to fill his Chevrolet Avalanche.

See the AP Video report

-- By the Associated Press

Posted by Pam Cotter  at 9:27 AM to Gas prices | Permalink | Comments 0