Tucson gas prices flat, and other business news

2013-06-21T00:00:00Z Tucson gas prices flat, and other business newsFrom Wire Reports From Wire Reports Arizona Daily Star
June 21, 2013 12:00 am  • 

ARIZONA

Gas prices nearly flat; Tucson still lowest

Gas prices in Arizona remained essentially flat this week while prices fell a few cents per gallon nationally, according to the latest data from AAA Arizona.

Arizona motorists saw pump prices rise a fraction of a cent to $3.49 per gallon, while nationally, prices fell 3.4 cents this week to $3.60 per gallon.

Current gasoline prices in Arizona are 6.5 cents lower than at this time last year, benefiting more than 651,000 Arizonans planning to take to the roads for the Fourth of July holiday, according to AAA's travel forecast.

Tucson had the lowest average price for regular gas in the state at $3.26 per gallon - the same as last week.

Flagstaff had the highest at $3.67 per gallon.

NATION

Facebook introduces video on Instagram

Facebook is adding video to its popular photo-sharing app Instagram, on the heels of Twitter's growing video-sharing app, Vine.

Instagram co-founder Kevin Systrom said Thursday that users will be able to record and share 15-second clips by tapping a video icon in the app. They can also apply filters to videos to add contrast, make them black and white or different hues.

Vine, which launched in January, has 13 million users and lets people create and share 6-second video clips. Instagram has more than 130 million users, up from about 22 million when Facebook bought the company more than a year ago. If users like it, Facebook's move could propel mobile video sharing into the mainstream, Systrom said.

Jobless-aid filings up; home sales pass 5M

In U.S. economic news Thursday:

• Applications for unemployment benefits rose by 18,000 last week to a seasonally adjusted 354,000. Despite the gain, the level remains consistent with moderate job growth, the Labor Department said.

• U.S. sales of previously occupied homes surpassed the 5 million mark in May, the first time that's happened in 3 1/2 years, the National Association of Realtors said. The gain shows the housing recovery is strengthening.

• U.S. mortgage rates fell for the first time in seven weeks, keeping the average on the 30-year fixed loan just under 4 percent, Freddie Mac said.

But rates are expected to surge next week, as markets respond to Chairman Ben Bernanke's comments that the Federal Reserve will likely reduce its bond purchases later this year.

WORLD

Airbus steals Boeing's thunder at Paris show

LE BOURGET, France - Airbus beat its rival Boeing in the orders stakes at the Paris Air Show. But both aircraft manufacturers were encouraged that their lucrative wide-body planes were finding new customers - a sign that the global economy could be on the mend.

Customers of the world's two major aircraft makers are increasingly interested in the new-generation, energy-efficient planes to offset huge increases in the price of jet fuel.

Though Europe's Airbus said Thursday it notched about $70 billion in sales at the show, it acknowledged a problem with its large backlog, which will delay the delivery of jets. Boeing Co. announced orders worth $66 billion.

The Associated Press

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