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Stories 1 - 20 |
Gas Prices Drive
Latest Inflation Increase
Sep 13, 2023 9:03 AM CDT
Gas Prices Drive Latest Inflation Increase
Labor Dept.'s new report is a mixed bag, with signs of continued cooling in consumer prices
- A spike in gas prices pushed up inflation in August, yet most other costs rose at a more modest pace, evidence that consumer price increases overall are still cooling. In a set of conflicting data on Wednesday, the Labor Department said the consumer price index rose 3.7% in August...
California Was Just Booted as
State With Most Expensive Gas
Jun 22, 2023 1:30 PM CDT
California Was Just Booted as State With Most Expensive Gas
The price per gallon in Washington now averages nearly $4.95
- There's a new "winner" in the contest of who has the highest gas prices in America, displacing California for the dubious honor: Washington state, where the average price per gallon of regular gas as of AAA's Thursday morning report was just a tad under $4.95. That'...
Saudis Looking to
Jack Gas Prices
Jun 5, 2023 2:20 AM CDT
Saudis Looking to Jack Gas Prices
Amid slumping prices, Riyadh will slash oil supply
- Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher, the AP reports. The Saudi cut...
Surprise OPEC Move May
Complicate Fed's Strategy
Apr 3, 2023 7:33 AM CDT
Surprise OPEC Move May Complicate Fed's Strategy
Decision to limit output expected to raise gas prices, along with fears about inflation
- Oil prices soared nearly 6% on Monday after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year, per the AP . The move by members of the so-called OPEC+ group of oil exporting...
Drivers May Receive
a Holiday Bonus on Gas Prices
Dec 1, 2022 6:25 PM CST
Drivers May Receive a Holiday Bonus on Gas Prices
GasBuddy says they may fall to $2.99 by the holiday
- In June, the average cost of a gallon of gas in the US hit $5 for the first time ever. By Christmas, one industry watcher is predicting a milestone in the opposite direction—gas under $3 a gallon. GasBuddy says a price of $2.99 is possible before the new...
Biden Making Another
Move to Keep Gas Prices
Oct 19, 2022 2:30 AM CDT
Biden Making Another Move to Keep Gas Prices From Skyrocketing
President will announce he's authorizing the release of 15M more barrels, sources say
- President Biden is authorizing the release of another 15 million barrels from the Strategic Petroleum Reserve and will announce the move Wednesday, sources say. The release, expected sometime in December, will complete the White House's planned release of 180 million barrels, which was announced earlier this year and is...
Gas Is on the Path to
Less Than $3 per Gallon
Aug 16, 2022 11:05 AM CDT
Gas Is on the Path to Less Than $3 per Gallon
Though experts warn that's not a guarantee
- For 62 days straight, the average national price for a gallon of gas has fallen, reaching $3.96 on Monday. That's around a 21% drop—$1.06 per gallon—since the $5.02-a-gallon high reached on June 14, reports CNN Business . In nearly 30 states, a gallon now costs...
Gas Prices Dip Below $4
Aug 11, 2022 4:11 AM CDT
Gas Prices Dip Below $4
Nationwide average is lowest in more than 5 months
- Gasoline prices have dipped to just under the $4 mark for the first time in more than five months—good news for consumers who are struggling with high prices for many other essentials. The American Automobile Association says the national average for a gallon of reguar was $3.99 on...
Here's Why Gas Prices Will
Probably Never Come Down
Aug 7, 2022 3:55 PM CDT
Here's Why Gas Prices Will Probably Never Come Down
Refinery capacity is the key, and it's not going up anytime soon, writes Politico's Ben Lefebvre
- Nothing can make or break a president’s political fortunes like the price of gasoline. As Ben Lefebvre reports for Politico, President Biden is trying to ease the pain by tapping the Strategic Petroleum Reserves, easing rules on ethanol sales, and proposing a temporary gas tax cut. Such bandages might...
Gas Prices Likely
to Keep Falling
Aug 3, 2022 1:16 PM CDT
Gas Prices Likely to Keep Falling
Expert predicts national average price to drop below $4 a gallon within a couple weeks
- The average cost of a gallon of regular unleaded gasoline fell for the 50th straight day Wednesday, dropping three cents to $4.16. That's a 17% decline from the record high of $5.02 on June 14, according to the Oil Price Information Service. Prices remain above $5 per...
Gas Tax Holiday
'Isn't Going to Happen'
Jun 22, 2022 3:11 PM CDT
Gas Tax Holiday 'Isn't Going to Happen'
'And it wouldn't help a ton even if it did'
- President Biden formally asked Congress for a three-month national gas tax holiday as expected Wednesday, though Politico 's Anthony Adragna doesn't expect there to be any change at the pumps. "This oft-repeated idea simply isn't going to happen—and wouldn't help a ton even if...
Biden Definitely Wants to Put
Federal Gas Tax on Pause
Jun 22, 2022 6:30 AM CDT
Biden Definitely Wants to Put Federal Gas Tax on Pause
President to ask Congress to agree to move that would temporarily lower prices
President Biden has reportedly moved from "considering it" to something a lot firmer when it comes to a temporary pause on the federal gas tax. Senior White House officials tells CNN and NBC News that Biden will in a Wednesday speech call on Congress to suspend the federal...
Gas Station Manager Who
Set Price at 69 Cents Fired
Jun 16, 2022 12:03 AM CDT
Gas Station Manager Who Set Price at 69 Cents Fired
Mistake cost the gas station $16K
The manager who accidentally rolled gas prices
back at a Northern California gas station has been fired. "I just took responsibility for it and I said ‘yeah it’s my fault, and I’m to blame,'" John Szczecina tells CBS Sacramento of the misplaced...
Soaring Gas Prices Are
a Huge Problem for Biden
Jun 12, 2022 9:00 AM CDT
Soaring Gas Prices Are a Huge Problem for Biden
Administration admits relief could be months away
- The average gas price in the US hit an eye-watering $5 a gallon Saturday, and analysts say the record-breaking price is a massive problem for President Biden and his admnistration ahead of the midterm elections—especially since relief could be a long time away. Recent polls show that an overwhelming...
Gas Prices Hit
a Nationwide First
Jun 11, 2022 5:30 AM CDT
Gas Prices Hit a Nationwide First
Average cost per gallon in the US is now $5, according to AAA
- The nationwide average price for a gallon of gasoline has topped $5 for the first time ever. Auto club AAA said the average price on Saturday was $5.00. Motorists in some parts of the country, especially California, are paying far above that. The national average price has jumped 19...
Pain at the Pump
Sees a New Jump
Jun 6, 2022 10:20 AM CDT
Pain at the Pump Sees a New Jump
Gas prices have spiked 25 cents in just one week
- At least 10 states now claim an average gas price of more than $5 per gallon, and some of them can trace this dubious honor back to a surge over the past few days. According to AAA, the country's average increased to $4.87 a gallon on Monday, which...
OPEC Alliance Agrees
to Boost Oil Production
Jun 2, 2022 10:50 AM CDT
OPEC Alliance Agrees to Boost Oil Production
Move by group that includes Russia may bring modest relief to sky-high prices
- The OPEC oil cartel and allied countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices and inflation. The decision Thursday steps up the pace by the alliance, known as OPEC Plus,...
Gas Prices in Every State
Reach an Unwelcome Mark
May 18, 2022 2:27 PM CDT
Gas Prices in Every State Reach an Unwelcome Mark
Average has crossed $4 for the first time in all 50 states
- There's apparently nowhere for Americans to hide from rising gas prices. For the first time, prices in every state average at least $4 per gallon, AAA data show. The immediate cause is the increasing cost of crude oil, which is almost $110 a barrel globally, per NBC News . AAA...
May 10, 2022 2:30 PM CDT
Gas Prices Reach Record, and Biden Speaks Out
Inflation is my No. 1 priority, says the president
- About a month ago, President Biden ordered the release of a million barrels of oil a day from national reserves to help curb steep gas prices. On Tuesday, however, those gas prices reached their steepest point on record—an average of $4.37 across the US, reports the Hill . No...
Biden to End Summer
Ban on 15% Ethanol Gas
Apr 12, 2022 6:44 AM CDT
Biden to End Summer Ban on 15% Ethanol Gas
New strategy to lower gas prices to be announced Tuesday
- President Biden on Tuesday will announce plans to allow the sale of gasoline containing 15% ethanol this summer in a bid to further lower prices at the pump , according to reports. Most gasoline sold contains up to 10% ethanol. The 15% ethanol blend, E15, costs 10 cents less per gallon...
Stories 1 - 20 |
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