gasoline prices

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Southeast Braces for Gas-Price Spike

Thanks to major spill that shut down part of Texas-to-NY pipeline

(Newser) - In what's being called a supply "red alert," a part of the Colonial Pipeline that transports gas from Houston to New York—serving about 50 million people in 13 states daily, per CNN and the Wall Street Journal —has been shut down since Sept. 9, when... More »

Gas Hasn't Been This Expensive in 6 Years

Happy July 4, all!

(Newser) - Getting to your town's fireworks display will cost you a little more than it has in years past: As of yesterday, a gallon of unleaded gas clocked in at an average $3.67. That's the highest it's been on the July Fourth weekend since 2008. What you... More »

$4.66: Calif. Gas Hits Twin High Notes

Refinery outage spikes prices to more than $5 a gallon in places

(Newser) - California gas prices hit a four-year record $4.61 yesterday, reports the LA Times , but for those who blinked and missed it, prices hit another all-time high of $4.655 today, according to AAA. Yesterday's average of $4.6140 was the highest since June 19, 2008, when it was... More »

Obama May Tap Oil Reserves

White House wants to reduce prices to help consumers, hurt Iran

(Newser) - Think the price of gas is getting too high? The Obama administration agrees. It's currently "dusting off old plans" to potentially tap the Strategic Petroleum Reserve, a source tells Reuters . Driving down the price of oil would help consumers and the US economy while also hurting Iran, ensuring... More »

Illinois Mayor to Residents: Leave Town to Buy Gas

Prices are too high; Tim Baldermann encourages boycott

(Newser) - An Illinois mayor has an odd request for residents of his town: Don't buy gas here! New Lenox Mayor Tim Baldermann is annoyed, as are many residents, that New Lenox gas stations tend to charge more than those in neighboring areas. At a New Lenox Speedway, the price is... More »

Gingrich: Romney Too Rich to Get Gas Prices

Mitt doesn't understand importance of lowering prices, Newt says

(Newser) - Mitt Romney recently panned Newt Gingrich's promise of $2.50-per-gallon gasoline if he's elected president, and Gingrich fired back today on Fox & Friends , claiming Romney just doesn't understand the importance of lowering the price. "If you’re Mitt Romney and you’re rich enough, maybe... More »

US Drivers Set to Spend Most Ever on Gas in 2011

Total tab could hit $491B

(Newser) - The average price for a gallon of gas at a US pump was at a not-too-pretty $3.66 yesterday. The good news: That's significantly lower than the $4.11 all-time high hit in 2008. The bad news: We'll likely have 2008 beat when it comes to a stat... More »

Gas Prices Expected to ... Drop

Oil falls under $100 as Americans start driving less

(Newser) - It looks like gas prices will start heading down for once. Both AP and the New York Times quote experts saying the price has probably peaked and will begin ticking downward from the national average of just under $4. Skeptics can look to oil prices, which dropped below $100 a... More »

Gas Prices Are Insane —Everywhere Else

As US drivers complain, those overseas think we're lucky

(Newser) - Gas prices are climbing again, which means people are complaining, which means it's time for a spate of stories showing how relatively cheap gas remains in the US. Here's a rough estimate of world prices per gallon, courtesy of CNN :
  • US: $3.53
  • Norway: $9.28
  • Europe: Between $7.50
... More »

Hybrids' New Rival: Ye Olde Gas Engine

Conventional cars are giving hybrids a run for their money

(Newser) - Hybrids are gas-sipping wonders, and electric cars may be the green wave of the future, but oil-addicted America's best hope may be ... the conventional gasoline engine, reports the Washington Post . GM, Ford, and Hyundai are now selling cars with conventional engines that get 40mpg or better on the highway, and... More »

Gas Prices Hit February Record

National average is $3.13, a high for this time of year

(Newser) - A little news to warm your heart in February: Gas prices have never been this high at this time of year, reports AP . The national average hit $3.13 yesterday, 50 cents higher than last year. Prices also are higher than they were in mid-February 2008, when they began their... More »

Expect $5 Gas in 2012: Former Shell Oil Chief

Economic recovery, developing nations will push petrol demand

(Newser) - Gasoline prices will hit $5 per gallon within the next year, the former president of Shell Oil predicts. John Hofmeister says oil demand will ramp up as developed economies approach a full recovery from the shocks of 2008 and developing economies increase their demand. "I'm predicting actually the worst... More »

Just in Time for Christmas: $3 Gallons of Gas

If you aren't already paying that now, you likely will

(Newser) - The price at the pump edged up 3.9 cents in the last two weeks to an average of $2.91 per gallon, according to the latest Lundberg Survey, which sampled gas prices at 2,500 filling stations across the US. That's 28 cents higher than it was last December.... More »

Dow Off 15 Despite Retail News

(Newser) - A strong retail sector and defensive buying ahead of the holiday weekend couldn’t correct a general malaise that left markets down slightly today, the Wall Street Journal reports. Sears was up 12% on a Q1 profit. Little movement in financials was welcome to some who believe the sector is... More »

No Christmas Miracle for Retailers

Even luxury sector sales in free fall

(Newser) - It was a bleak Christmas and promises to be a less than prosperous New Year for retailers with consumers tightening their belts and spending less, reports the Wall Street Journal. Retail sales dropped 5.5% in November and 8% in December, compared with the same months last year. Luxury goods,... More »

Gas Hits 5-Year Low

$1.66 a gallon average is cheapest since February 2004

(Newser) - The average national price of gasoline fell 9 cents in the past two weeks, bringing it to its lowest point in nearly five years, according to a national survey released today. The average price of regular gasoline Friday was $1.66 a gallon. The price of mid-grade was $1.80... More »

OPEC Slashes a Record 2.2M Barrels

(Newser) - OPEC has approved a cut in output of 2.2 million barrels of crude a day, the largest reduction ever, MSNBC reports. The consortium believes that stabilizing prices now by decreasing supply will guard against a price spike when consumer confidence increases. OPEC’s monthly report predicts that demand will... More »

How Cheap Gas Hurts Green Initiatives, Feds' Bottom Line

Driving less not great for gov't coffers

(Newser) - Americans are driving less and burning less fuel, but it could be too soon for conservation fans to celebrate. That dip, and global economic gloom, has sent oil and gas prices spiraling down, Joseph White writes in the Wall Street Journal, depriving the government of taxes it needs for transportation... More »

Gas Prices Plummet Below $2

But low cost fuel isn't getting more people on the road

(Newser) - As crude oil sank below $50 for the first time in years, gas prices in America continued their precipitous fall, with the average cost of a gallon below $2 today for the first time since 2005. The turnabout is the sharpest since the government began tracking prices in 1980. Suddenly,... More »

Cheaper Oil Likely to Stay Awhile

Demand won't quickly return to old levels, and new tech, exploration keeps pressure off

(Newser) - Oil prices are down, and they’re likely to stay that way for now, writes Ronald Bailey for Reason. Not only did the recent spike in gas prices drive down demand in the US; it also heightened the effect of domestic and local production. Government mandates, made in response to... More »

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