gas prices

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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' Math
Biden Questions
Oil Companies' Math

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

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...

Trump Sees Silver Lining in Bad Financial News

Falling oil prices means cheaper gasoline for consumers, he tweets

(Newser) - President Trump suggested Monday that concern over the coronavirus outbreak was overblown. In one of several tweets, he drew comparisons between COVID-19 and the seasonal flu. "So last year 37,000 Americans died from the common Flu," he wrote . "It averages between 27,000 and 70,000...

Trump Congratulates Himself on Falling Gas Prices

''Thank you President T'

(Newser) - President Trump congratulated himself for falling oil prices. He chided the Federal Reserve over interest rates. He claimed Central American countries are trying to dump "certain people" into the United States. Trump's Florida holiday stay came to an end Sunday with a visit to his golf club for...

In Manhattan, Gas Reaches $5 a Gallon

Price at Hell's Kitchen station is way higher than the national average, however

(Newser) - $5 gas? It was a reality at at least one station in the US on Tuesday, specifically at a Mobil station in Manhattan's Hell's Kitchen, reports Fox5NY . Technically, the price hit $4.999. That's higher than the $3.18 average in New York City overall, according to...

This Will Be the Priciest Driving Season Since 2014

US daily national average for regular gasoline hits $2.81 per gallon

(Newser) - Get ready for a little bit more pain at the pump this summer. Crude oil prices are at the highest level in more than three years and expected to climb higher, pushing up gasoline prices along the way, the AP reports. The US daily national average for regular gasoline is...

Harvey Is Bad News for Nation's Drivers
Harvey Is Bad News
for Nation's Drivers
the rundown

Harvey Is Bad News for Nation's Drivers

What you need to know about gas prices, availability

(Newser) - Hurricane Harvey has devastated Texas, and it's also bringing bad news for drivers across the nation. Harvey's impact on the Gulf Coast caused several major refineries and a key gasoline pipeline to shut down, the AP reports. What that means:
  • Prices are on the rise: Per GasBuddy , the
...

'Dramatic Turnaround' Projected for Gas Prices

Prices projected to be lower July 4 than on Jan. 1

(Newser) - In what USA Today calls a "stunning" moment for analysts, gas prices are projected to be lower on the Fourth of July than they were on New Year's Day. That's the first time consumer data tool GasBuddy has made such a projection in its 17 years (the...

Rumors Swirl as Gas Shortage Hits N. Korea

Beijing may have tightened supply

(Newser) - An acute shortage of gasoline in the North Korean capital of Pyongyang that has sparked price hikes and hoarding is raising fears of potentially crippling pain at the pumps if things don't get better soon—and driving rumors that China is to blame. The shortage, which is extremely unusual...

Southeast Braces for Gas-Price Spike
Southeast Braces
for Gas-Price Spike

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...

Driver Fills Gas Tank for Just 26 Cents

Ohio gas station blames price war, computer glitch

(Newser) - A computer glitch led to a brief price war between two gas stations in northwest Ohio, allowing some drivers to fill their tanks for pennies per gallon, the AP reports. According to WTOL-TV , a computer malfunction dropped prices at one north Toledo gas station, and another across the street lowered...

$1 Gas Could Soon Be Reality in Some US States

Not you, California

(Newser) - You're not imagining things: Gas prices could soon fall as low as $1 per gallon at some US gas stations, USA Today reports. Some Midwest states—Michigan, Wisconsin, Illinois, Minnesota, North Dakota, Oklahoma, Indiana, Ohio, and Kansas—are already seeing the lowest prices in 12 years. And one in...

There Was Sub-$1 Gas in America on Sunday

Price war results in milestone levels, at least temporarily, in Houghton Lake, Michigan

(Newser) - It didn't last long, but some residents in Northern Michigan saw gas prices drop below $1 on Sunday. The site GasBuddy.com first picked up on the news at several stations in Houghton Lake, where an apparent price war temporarily drove prices below the milestone level, reports WXYZ . "...

Oil Prices Dive to Lowest Since 2003

Analysts blame fall on Iran's return to market

(Newser) - The price of a barrel of oil has dived to its lowest since the days when Facebook didn't exist and most Americans had never heard of Fallujah. The fall to prices not seen since 2003 came after Western nations dropped sanctions against Iran on Saturday, causing analysts to worry...

Why This Could Be Your Best Labor Day in 11 Years

Holiday gas prices are lowest since 2004

(Newser) - Good news, holiday travelers: While you're stuck in Labor Day traffic, you'll be spending less on gas than you have since 2004, the New York Times reports. Yesterday, the national average gas price was $2.42 per gallon. That's nine cents less than last week and more...

Workers in 'Panic Mode' Over Low Price of Oil

Oil rigs have shut down, leaving well-paid degree-less workers short on options

(Newser) - Countries around the world continue to be impacted in various ways from the oil price crash over the last year, and there's one demographic that's definitely feeling the negative effects: oil workers now out of jobs that were "more or less an economic lottery ticket for an...

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