The Latest News about gas prices

Oil prices are staying low after Iran fired several missiles at multiple air bases in Iraq that housed U.S. troops. Analysts say a massive uptick in oil production in recent years is to thank for the low prices. The average price of a gallon of gas is staying steady at $2.60, while global oil prices are hovering around $70 a ...

Explosions at the Philadelphia Energy Solutions (PES) refinery, the largest on the East Coast, sent gasoline futures soaring, but experts say it’s still too early to know the full effects of the incident. “It is too early to know the full impact the fire at the PES facility will have on summer gas prices and for how long for East ...

With the Trump economy in high gear, gas prices reached their highest point in four years in May, with a gallon costing motorists an average of $2.90. According to a new trend report released by the experts at Edmunds, car shoppers aren’t letting these rising costs deter them from buying the cars they want — notably, trucks and SUVs. “On the ...

  by Michael Bastasch Replacing the federal biofuel mandate with a mandate to sell more fuel-efficient gasoline could end up being a cure that’s worse than the disease, according to a new report. A so-called high-octane fuel standard (HOFS) “is simply not the elegant solution that some contend it is,” Philip Rossetti, director of energy policy at the right-leaning American Action ...

  by Chris White The price of a gallon of gas costs dramatically more in California than in the rest of the country for a variety of reasons, but government meddling, rising house costs and steep taxes are playing a significant role. Republicans are threatening to turn a recently passed gas tax increase into a millstone to wrap around the ...

President Donald Trump ordered the federal government to significantly reduce the amount of petroleum and petroleum products purchased from Iran. In an executive memorandum issued to the Secretary of State, Secretary of Treasury and Secretary of Energy, the president said that after considering several factors such as the level of supply in the international market and in the U.S. he ...

  by Robert Donachie A combination of geopolitical events, environmental regulations, and rising demand will beset U.S. commuters with higher-than-average gas prices this summer. Pump prices typically rise during the summer months as Americans take to the open roads for vacation trips. Currently, the national average price for gasoline is about $2.80 a gallon — a sharp uptick from $2.40 ...

President Obama is determined to wound the American economy further by putting an additional tax on oil. The White House announced Thursday that Obama will propose a $10 tax on each barrel of crude oil produced. At current prices, that represents a 33% increase in the raw material needed to make gasoline, diesel, fertilizer, heating oil, liquefied petroleum gas, plastics, rubber and ...

For years, economists have been saying that cap-and-trade would be an economy killer. Now, a group of California Democrats has come to the same conclusion in a letter to the head of California’s air resources board. The 16 Democrats have requested a delay or change to the rules that would put gasoline under the same cap-and-trade rules as power stations have been ...

It would be really funny if it were not true! My favorite is the one that stumbles over himself at the 38 second mark.

It’s the question candidates are asking. Are you better off? Last week’s job report seemed to indicate a slight improvement in business. But a quick look at the job layoff report might make one think otherwise. Daily Job Cuts: October 10, 2012 Layoffs Report Cummins announces plans to cut up to 1,500 jobs by end of 2012 http://trib.al/6a7AyE FEDEX to ...

With Hurricane Isaac’s slamming the American gulf coast putting a temporary halt to oil production and refinery output, consumers can expect to see higher prices at the pump. Just in time for the Labor Day holiday. Before Hurricane Isaac came along, gasoline costs were at an almost four month high.  The nationwide average rose to $3.75 a gallon on Aug. ...

There is widespread consensus that America needs to become energy independent. America’s ever growing dependence on foreign energy putsher at ever-greater risk in a world that is increasingly unstable. Given the current political upheavals in the Middle East, this reality is slapping America in the face with increasing costs at the pump, which are contributing to the cost of goods ...

Back in April, when diesel fuel was rapidly approaching $4.50 per gallon, I wrote an article predicting the recent downturn in our economy. Today oil fell below $80.00 per barrel and diesel fuel is now well below $4.00 in most places. Given my economic theory of diesel, there is an approximate three month lag between the price of fuel and ...

Welcome to the beginning of the end of the economic recovery. On Tuesday diesel fuel was $4.49 per gallon along interstate route 81 in New York State! The price of fuel is rapidly approaching what Malcolm Gladwell would call the “tipping point”. Diesel fuel hit a peak of $4.72 per gallon in July of 2008. That took a huge toll ...