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NEWS ABOUT: gas prices

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Under the Hood, Size Does Matter

Even in SUVs, Americans opt for smaller engines to conserve on gas

(Newser) - Instead of saving on gas by getting smaller cars, many Americans are buying cars with smaller engines. Four-cylinder autos have been zooming off lots nationwide, leaving six-cylinder rides in the dust: Three quarters of mid-size cars sold in May sported the smaller engine, a swerve away from a trend in... More »

Norwegian Electric Car Will Cruise US Streets

Vehicle can log up to 110 miles on single charge

(Newser) - An electric car that can travel up to 110 miles when fully charged will hit select US cities next year, the Wall Street Journal reports. The Think City, from Norwegian automaker Think Global AS, is already on the road in Norway, Sweden and Denmark, and will set American consumers back... More »

Feds Hunt for Scams in Crude Oil Trading

Speculators may be driving up crude by manipulation

(Newser) - Federal regulators are investigating whether rocketing oil prices are being driven up by speculators manipulating futures markets, reports the Wall Street Journal. The nationwide probe involves several separate investigations. Authorities suspect that a widely used price reporting system may be artificially influenced and that some oil storage facilities may be... More »

Ballooning Gas Costs Fuel Mass Protests in Europe

Hefty taxes double the pump price in US

(Newser) - Skyrocketing fuel prices are hitting Americans hard, but drivers across the Atlantic are shelling out twice as much, Time reports. Europeans pay an average of $8.70 for a gallon of gas, and the hefty price hikes this year are leading to protests that threaten to shut down cities, ports,... More »

CEOs of United, US Airways Will Meet to Talk Merger

Top executives of the airlines plan face-to-face meeting tomorrow

(Newser) - The CEOs from United Airlines and US Airways will meet tomorrow to try to nudge ahead talks of a possible merger, the Wall Street Journal reports. If they make headway, the executives could present a possible deal to their respective boards in mid-June. The deal, in the works for two... More »

$4 a Gallon? Keep It Coming!

High prices are finally forcing Americans to fuel-efficient cars: Friedman

(Newser) - The ideal presidential candidate wouldn’t pledge to cut gas prices—but would promise instead never to let them fall below $4 a gallon, writes Thomas L. Friedman in the New York Times. The high prices are finally forcing America to use fuel-efficient cars—and that’s crucial for the... More »

Truck Protest Freezes London

High fuel prices enrage drivers

(Newser) - Truck drivers came from miles around to protest high fuel prices in London today, the Daily Telegraph reports. Lining along specially-closed sections of highway, the drivers blared horns and waved signs, demanding a reduction in the government’s diesel tax. “I think soon the public will actually join us,... More »

Gas Prices Drive Americans Off the Road

Motoring takes record drop: 11B fewer miles in March

(Newser) - The summer driving season that kicked off over Memorial Day weekend will see significantly fewer Americans hitting the road, reports CNN: Figures from March released yesterday show the biggest decline in driving since the federal government began keeping records in 1942—down 4.3% or 11 billion miles from last... More »

Cops Can't Afford Gas Prices Either

Bike patrols get popular to save at the pump

(Newser) - With gas prices near $4 a gallon, more US police are saving money by peddling around, the AP reports. One cop shop in Bedford, Va., for example, has saved up to 400 gallons of fuel per month by buying just 8 bikes. But the two-wheelers don't come cheap: With crime-stopping... More »

Speculators to Blame for Soaring Oil: Soros

'Bubble' will burst when both US and UK are in recession

(Newser) - Billionaire investor George Soros blames soaring oil prices that reached a record $135 a barrel last week largely on speculation that’s causing a “bubble” in numbers, the Daily Telegraph reports. The weak US dollar, slipping Middle East oil supply, and rising Chinese demand all play a role, but... More »

As Gas Spikes, Profit Scarce for Station Owners

Oil giants like Exxon hike prices, raise rents, covet every penny

(Newser) - Feeling sorry for gas station owners might be more than the average consumer can muster these days, but, reports the Washington Post, the emotion might not be misguided. Oil giants like Exxon cut owners' profit margins and raise rents, while micromanaging details down to which shelf franchisees place soda on.... More »

Cheer Up! Recession Has a Bright Side

Finally contractors come on time, and driving is easier

(Newser) - While the specter of recession may leave you cold, consider the bright side: These days contractors, starved for work, actually show up on time, and killer gas prices help you to drive around a city like Los Angeles without facing much traffic, Meghan Daum writes in the Los Angeles Times. More »

High Gas Prices Give Economy a Headache

Main Street and Wall Street finally admit financial pain

(Newser) - Oil prices gushed for 5 years, but the US economy remained blissfully unaffected—until now, the Los Angeles Times reports. Rising gas prices have finally spooked consumers and sparked ominous news from two major airlines, Ford, and even memory card maker SanDisk. “The economic outlook has been taken hostage... More »

SUVs Plunge in Value as Drivers Turn to Smaller Cars

Downsizing is in as pump prices start to pinch drivers

(Newser) - SUVs are falling out of fashion fast as gas prices go through the roof, CNN reports. As drivers downsize to more fuel-efficient vehicles, gas-guzzlers are filling up used-car lots—but there aren't many buyers. The biggest SUVs—like the Cadillac Escalade, Ford Expedition, and Chevy Suburban—are dropping in value... More »

Oil Rockets to $135 on Surprise Supply Decline

Unexpected decline in US oil and gasoline supplies sparks surge

(Newser) - A surprise 5.32 million barrel decline in US crude oil stockpiles prompted oil prices to surge past a record $135 a barrel in after-hours New York trading this morning, extending oil's runup to 19% this month, reports Bloomberg. The Energy Department also said yesterday that gasoline stockpiles had declined... More »

Americans Reducing Mileage on Cars, Not Stomachs

Higher food prices not having diminishing effect of gas costs

(Newser) - Many Americans are cutting back on gas due to spiking prices, but few are eating less in response to similarly soaring food costs, a poll finds. Nearly half of respondents said they were driving less, but only 8% said they were eating less. "People have more control over gasoline.... More »

Military at War With Rising Fuel Costs

Pentagon, with hefty budget worries, trying synthetic, greener options

(Newser) - Fuel costs are hitting the US military harder than most, the Wall Street Journal reports, and it's moving forward with efforts to switch to synthetic, and greener, alternatives. Chugging 340,000 barrels of oil per day, the military is the nation's largest consumer; synthetic fuels and massive solar arrays are... More »

What Europe Can Teach Us About Gas

Dense, connected Berlin, not car-centric Atlanta, is better model

(Newser) - Gas costs more than $8 a gallon in Germany—a sum that might cause riots in the US but hardly ruffles most Europeans. Their secret is simple, Paul Krugman writes in the New York Times: They drive fuel-efficient cars, and they don’t drive very often. America can easily imitate... More »

Prius: 1M and Counting

Toyota hybrid's sales into seven digits, and company sees no slowdown

(Newser) - The Toyota Prius is a now 1 million units strong, and the landmark gas-electric hybrid, introduced in 1997, is poised to keep growing, the AP reports. Toyota said today it expects to be selling a million a year by sometime after 2010; what’s more, the company claims 4.5... More »

Lucky Alaska First to Hit $4 Gas

Others could join '$4 club' after Memorial Day

(Newser) - It's here. Alaska has the painful distinction of becoming the first state where gas is selling for an average of $4 a gallon, Reuters reports. The average for the rest of the US is hovering at $3.76, but Connecticut, California, New York, and Illinois could all join Alaska in... More »

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