gas prices

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Biden Making Another Move to Keep Gas Prices From Skyrocketing

President will announce he's authorizing the release of 15M more barrels, sources say

(Newser) - President Biden is authorizing the release of another 15 million barrels from the Strategic Petroleum Reserve and will announce the move Wednesday, sources say. The release, expected sometime in December, will complete the White House's planned release of 180 million barrels, which was announced earlier this year and is...

Gas Is on the Path to Less Than $3 per Gallon

Though experts warn that's not a guarantee

(Newser) - For 62 days straight, the average national price for a gallon of gas has fallen, reaching $3.96 on Monday. That's around a 21% drop—$1.06 per gallon—since the $5.02-a-gallon high reached on June 14, reports CNN Business . In nearly 30 states, a gallon now costs...

Gas Prices Dip Below $4
Gas Prices Dip Below $4

Gas Prices Dip Below $4

Nationwide average is lowest in more than 5 months

(Newser) - Gasoline prices have dipped to just under the $4 mark for the first time in more than five months—good news for consumers who are struggling with high prices for many other essentials. The American Automobile Association says the national average for a gallon of reguar was $3.99 on...

Here's Why Gas Prices Will Probably Never Come Down

Refinery capacity is the key, and it's not going up anytime soon, writes Politico's Ben Lefebvre

(Newser) - Nothing can make or break a president’s political fortunes like the price of gasoline. As Ben Lefebvre reports for Politico, President Biden is trying to ease the pain by tapping the Strategic Petroleum Reserves, easing rules on ethanol sales, and proposing a temporary gas tax cut. Such bandages might...

Gas Prices Likely to Keep Falling
Gas Prices Likely
to Keep Falling

Gas Prices Likely to Keep Falling

Expert predicts national average price to drop below $4 a gallon within a couple weeks

(Newser) - The average cost of a gallon of regular unleaded gasoline fell for the 50th straight day Wednesday, dropping three cents to $4.16. That's a 17% decline from the record high of $5.02 on June 14, according to the Oil Price Information Service. Prices remain above $5 per...

Gas Tax Holiday Would Foil Biden's Own Goals
Gas Tax Holiday
'Isn't Going to Happen'
OPINION

Gas Tax Holiday 'Isn't Going to Happen'

'And it wouldn't help a ton even if it did'

(Newser) - President Biden formally asked Congress for a three-month national gas tax holiday as expected Wednesday, though Politico 's Anthony Adragna doesn't expect there to be any change at the pumps. "This oft-repeated idea simply isn't going to happen—and wouldn't help a ton even if...

Biden Definitely Wants to Put Federal Gas Tax on Pause

President to ask Congress to agree to move that would temporarily lower prices

(Newser) - Updated: President Biden has reportedly moved from "considering it" to something a lot firmer when it comes to a temporary pause on the federal gas tax. Senior White House officials tells CNN and NBC News that Biden will in a Wednesday speech call on Congress to suspend the federal...

Gas Station Manager Who Set Price at 69 Cents Fired

Mistake cost the gas station $16K

(Newser) - Update: The manager who accidentally rolled gas prices way back at a Northern California gas station has been fired. "I just took responsibility for it and I said ‘yeah it’s my fault, and I’m to blame,'" John Szczecina tells CBS Sacramento of the misplaced...

Soaring Gas Prices Are a Huge Problem for Biden

Administration admits relief could be months away

(Newser) - The average gas price in the US hit an eye-watering $5 a gallon Saturday, and analysts say the record-breaking price is a massive problem for President Biden and his admnistration ahead of the midterm elections—especially since relief could be a long time away. Recent polls show that an overwhelming...

Average Price for Gas in US Hits $5 a Gallon
Gas Prices Hit
a Nationwide First

Gas Prices Hit a Nationwide First

Average cost per gallon in the US is now $5, according to AAA

(Newser) - The nationwide average price for a gallon of gasoline has topped $5 for the first time ever. Auto club AAA said the average price on Saturday was $5.00. Motorists in some parts of the country, especially California, are paying far above that. The national average price has jumped 19...

Pain at the Pump Sees a New Jump
Pain at the Pump
Sees a New Jump

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

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 'Gas Tax Holiday'
We Could Get
a 'Gas Tax Holiday'
THE RUNDOWN

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 "...

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