Gas prices
WASHINGTON — The Biden administration will release 15 million barrels from the Strategic Petroleum Reserves, and may consider releasing significantly more this winter, in an effort to ease high gasoline prices. The announcement comes in the wake of several polls... Read More
SACRAMENTO, Calif. — Late last month, California Gov. Gavin Newsom called for a windfall tax on oil companies that would be reverted back to California taxpayers. Such a tax is necessary, Newsom said, because they have “failed to provide an... Read More
AP -- Gasoline prices 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. AAA said the national average... Read More
WASHINGTON — The Consumer Price Index was unchanged in July, a sign that rapidly declining gas prices are beginning to offset the pressures that led to a monthslong surge in inflation. According to the U.S. Bureau of Labor Statistics, the... Read More
WASHINGTON — Rep. Frank Pallone, Jr., D-N.J., chairman of the House Energy and Commerce Committee ripped into four major oil companies who reported record high profits in the first half of the year as consumers continued to suffer sticker shock... Read More
WASHINGTON — Chey Tae-won, chairman and principal owner of South Korea’s second-largest conglomerate, SK Group, is set to announce $22 billion in new investments in U.S. manufacturing during a virtual meeting with President Joe Biden later today. The new investments... Read More
WASHINGTON — The White House on Monday evening released a memo detailing how the average price of gasoline across the U.S. has declined by 50 cents per gallon over the past 34 days — one of the fastest declines in... Read More
WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday's report from the Commerce Department provided the latest evidence that... Read More
WASHINGTON — The Biden administration plans to auction oil and gas leases this week in a policy reversal intended to bring down the price of fuel for consumers. The leases would open 144,000 acres to corporate oil and gas extraction,... Read More
WASHINGTON (AP) — President Joe Biden is visiting corn-rich Iowa on Tuesday to announce he'll suspend a federal rule preventing the sale of higher ethanol blend gasoline this summer, as his administration tries to tamp down prices at the pump... Read More
WASHINGTON — Oil industry executives tried to explain to Congress Wednesday that a recent sharp increase in gasoline prices results from market conditions beyond their control. They vehemently denied they were price gouging to get rich off of international upheavals... Read More
WASHINGTON — The surging price of gasoline across the country will be the subject of a hybrid hearing April 6 before a subcommittee of the House Energy and Commerce Committee. The Subcommittee on Oversight and Investigations will convene on Wednesday,... Read More
WASHINGTON — President Joe Biden on Thursday will announce plans for the largest-ever release of oil from the nation’s strategic petroleum reserves, the White House announced. Under the plan, about 1 million barrels of oil per day will be released... Read More
WASHINGTON (AP) — A majority of Americans say they don't blame President Joe Biden for high gasoline prices, but they're giving his economic leadership low marks amid fears of inflation and deep pessimism about economic conditions. About 7 in 10... Read More
WASHINGTON — The national average for gasoline prices hovered near record highs Friday, a fact not lost in Washington, D.C., as Republicans and Democrats engaged in a blame game. The Senate Commerce Committee's ranking Republican called on the Federal Trade... Read More