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Gas Prices Dip Just Below $4 for the First Time in Five Months
Economy
Gas Prices Dip Just Below $4 for the First Time in Five Months

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

Falling Gas Prices Offsetting Inflation Pressures, Providing Relief to Consumers
2022-08-10 15:29:48
by Dan McCue

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

Congress
Pallone Blasts Oil Companies Over Profits As Consumers Suffer at the Pump
2022-08-03 16:05:25
by Dan McCue

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

Manufacturing
SK Group to Tout $22B in New US Investments at White House Session
2022-07-26 15:01:07
by Dan McCue

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

Transportation
White House Touts Decline in Gas Prices
2022-07-19 13:47:32
by Dan McCue

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

Economy
Key Inflation Gauge Tracked by the Fed Remains a High 6.3%

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

Energy
U.S. Interior Dept. Allows Oil and Gas Leases in Policy Reversal
2022-04-18 17:21:26
by Tom Ramstack

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

Renewable Energy
Biden Waiving Ethanol Rule in Bid to Lower Gasoline Prices

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

Energy
Oil Executives Defend Gas Prices Under Criticism From Lawmakers
2022-04-06 22:56:04
by Tom Ramstack

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

Congress
House Panel to Hold Hybrid Hearing on Gas Prices
2022-04-04 17:41:27
by Dan McCue

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

Energy
White House Plans Largest-Ever Oil Reserve Release to Combat Gas Prices
2022-03-31 23:06:30
by Dan McCue

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

Economy
AP-NORC Poll: Low Marks for Biden on Economy as Prices Rise

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

Political News
Playing the Blame Game as Gas Prices Continue to Rise
2022-03-18 16:07:43
by Tom Ramstack

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

Straight From The Well