gas prices

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Pain at the Pump Sees a New Jump
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

(Newser) - 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

Move by group that includes Russia may bring modest relief to sky-high prices

(Newser) - 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

Average has crossed $4 for the first time in all 50 states

(Newser) - 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...

Gas Prices Reach Record, and Biden Speaks Out

Inflation is my No. 1 priority, says the president

(Newser) - 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

New strategy to lower gas prices to be announced Tuesday

(Newser) - 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...

Biden Sticker on Gas Pump Leads to Man's Arrest

Pennsylvania man faces charges including resisting arrest

(Newser) - With gas prices still near record highs after a surge earlier this year, stickers blaming President Biden have become a common sight at gas pumps across the country—but one Pennsylvania man ended up in the back of a squad car after getting caught in the act. Thomas Richard Glazewski,...

Oil Executives Don't Bend on Cutting Dividends

Democrats in hearing push for money to be diverted to increasing production

(Newser) - Leveling intense criticism at oil companies over skyrocketing energy prices, House Democrats suggested that the CEOs cut dividends and reduce stock buybacks, diverting that money to increasing production. In a hearing Wednesday, Rep. Frank Pallone asked the executives if they'd agree to "doing whatever it takes" to lower...

As Prices Spike, Biden to Tap Oil Reserve: Sources
It's the Biggest
Drawdown 
of US Oil
in History
UPDATED
Mar 31, 2022 11:40 AM CDT

It's the Biggest Drawdown of US Oil in History

President orders release of 180M barrels from US reserves over six months

(Newser) - Update: This summary has been updated with new developments throughout. President Biden is ordering the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months, the White House said Thursday, in a bid to control energy prices that have spiked since...

Ice-T's Tale From the Gas Pump Draws Shock, Then Snark

Rapper joke-tweeted that he was robbed ... by high prices at the gas station

(Newser) - A tweet from Ice-T this week prompted immediate concern from those reading it—until they got to the end of the post and realized the 64-year-old rapper and Law and Order: SVU actor was making a pointed joke about a timely topic. "I was robbed at a gas station...

We Could Get a &#39;Gas Tax Holiday&#39;
We Could Get
a 'Gas Tax Holiday'
THE RUNDOWN
Mar 10, 2022 12:38 PM CST

We Could Get a 'Gas Tax Holiday'

Lawmakers are pushing the idea to ease the pain at the pumps

(Newser) - With gas prices at their highest in years—an average of $4.318 per gallon in the US as of Thursday—and expected to climb higher , some lawmakers are calling on President Biden to back the suspension of a federal gas tax to ease the financial burden. A federal "...

Gas Could Cost Your Family an Extra $2K This Year
At Gas Pumps, 'Dire Situation'
May Be Here Awhile  
THE RUNDOWN
Mar 8, 2022 12:48 PM CST

At Gas Pumps, 'Dire Situation' May Be Here Awhile

Russia's invasion of Ukraine sent US into 'hyper-supply crunch;' it's not expected to improve soon

(Newser) - We haven't seen gas prices this high in the US since 2008, with Russia's invasion of Ukraine being a primary driver. AAA reports that the average cost of a gallon of gas was $4.17 as of Tuesday morning, per CNN Business . That's a 10-cents-per-gallon increase just...

This Is the Most Americans Have Ever Paid for Gas

Average price for a gallon hits $4.14

(Newser) - Update: Forget being close to a record—gas prices are officially at a record high as of Monday. The average price for a gallon of regular gasoline in the US is now $4.14, passing the previous record of $4.11 from 2008, CNN reports. That's up 60 cents...

For Drivers in 2 States, Big Change Looms at Gas Pump

New Jersey, Oregon may finally allow drivers to pump their own gas

(Newser) - Out-of-state drivers heading through New Jersey or Oregon likely encounter a surprise when they stop for gas: In those states, drivers (mostly) still can't pump their own. Now, however, both states are considering legislation to finally allow the practice, reports the Hill . Rising gas prices and a tight labor...

US Sees an Unwanted First on Gas Prices

For first time, average price of a gallon goes over $5 in one city

(Newser) - Russia's invasion of Ukraine has pushed gas prices sky-high. For the first time in any US city, the average price of a gallon of gas hit $5 in San Francisco on Thursday. The rest of California, the state where gas is the priciest at a current average of $4....

Biden to Pull 50M Barrels of Oil From Strategic Reserve

Goal is to bring down prices around the globe

(Newser) - The White House on Tuesday said it had ordered 50 million barrels of oil released from the strategic reserve to bring down energy costs, in coordination with other countries including China. The move is an effort to bring down gas prices that are currently averaging about $3.40 a gallon...

Biden Questions Oil Companies&#39; Math
Biden Questions
Oil Companies' Math
Nov 17, 2021 4:52 PM CST

Biden Questions Oil Companies' Math

President wants investigation into why pump prices are up when costs are down

(Newser) - President Biden wonders why the cost of producing gasoline is dropping while prices at the pump are rising. Maybe "illegal conduct" is to blame, he wrote the chair of the Federal Trade Commission on Wednesday, asking Lina Khan to investigate oil and gas companies and "bring all of...

Propane Market Could Be Headed for 'Armageddon' This Winter

Millions of Americans will have to pay a lot more to heat their homes

(Newser) - A tough winter could lie ahead for the 5% of American households that heat their homes with propane. The fuel has hit its highest price for this time of year in a decade, meaning millions of rural households will experience "sticker shock" when it's time to fill up...

Some Gas Stations Are Running Out of Gas

As the July 4 holiday weekend looms

(Newser) - Not only are gas prices their highest in nearly seven years—in some parts of the US, you might struggle even to be able to get gas at all. Stations are running out of fuel, CNN reports, due to a tank truck driver shortage and rising demand leading to supply...

Gas Industry Is Running Out of Drivers

Driver shortage could cause gas shortages this summer, industry warns

(Newser) - Demand for gas is now nearly at pre-pandemic levels and could hit new highs this summer—but the industry is desperately low on drivers who can bring it to gas stations. Industry groups say there's no current shortage of gas, but the chronic shortage of tanker truck drivers has...

In Some Areas, Gas Is Below $1 a Gallon
Gas Is Cheap, Not
That You'd Notice
Mar 31, 2020 3:13 AM CDT

Gas Is Cheap, Not That You'd Notice

National average hovers around $2 a gallon, but for many motorists there's nowhere to go

(Newser) - US gasoline prices have dropped to their lowest levels in four years, and they are almost sure to go lower as oil prices plunge. Price-tracking services put the national average Monday around $2 a gallon. Some stations were spotted charging under a dollar. But don't expect a stampede to...

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