6at4 Business Report: Gas prices; unemployment; Angry Birds; US Airways
Gas prices could hit $5 on East Coast
We did get an update on the job market today and signs show it's picking up steam. The number of people filing for unemployment benefits dropped last week to the lowest level in 4 years. Overall - we've had the best 6 months of job growth since 2006.
The upcoming July closure of those two Sunoco refineries, along with the recent closure of the Conoco Phillips refinery - all of the Philadelphia area, could have a big impact on gas prices and could even cause a gasoline shortage during the peak summer driving season. According to Bloomberg research, the northeast will have lost almost half of its refining capacity in six month by July. According to the Schrok Group, that means pump prices may reach an average of $4 a gallon this summer in the rest of the U.S., but here on the east coast we could be looking at $5 a gallon gas.
US Airways adds flights
US Airways just added more 6 new flights into Washington, D.C. cities like San Diego and Minneapolis. The company tells us they are still focused on their 4 core cities, Washington, D.C., Phoenix, Charlotte and Philadelphia, and 99% of their flights touchdown in those cities. Plus, if you want to use your laptop on your next US Airways flight, the carrier is expanding Wi-Fi availability to 90% of its domestic flights.
Angry Birds in Space
Those angry birds, and the pigs who vex them are back at it again... This time in space. Rovio, the company behind the popular mobile video game, launched Angry Birds Space today. The collaboration with NASA allows fans to have fun with physics as the birds contend with zero gravity and orbits to get their eggs back from the villainous pigs.
6at4, stock market, economy, us airways, gas prices, sunoco, business/finance
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