Despite West Texas intermediate crude oil futures dipping below $100 per barrel on Tuesday, serious gas price relief may be unlikely happen until motorists make adjustments by driving less. “I think the only thing that’s going to make a dent in gasoline or jet fuel prices is demand destruction,” Vectis Energy Partners principal Tamar Essner said on Yahoo Finance Live after being asked when gas prices may drop below $4 a gallon (video above). “So we have to push higher until we get to that… Source link
Read More »Gas prices over $5 a gallon isn’t the stock market’s only problem
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, June 13, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Many times in my career in financial markets, I’ve been able to spot trainwrecks before they happen. The trade-off for devoting every waking second to studying markets, the human beings… Source link
Read More »Phoenix gas station owner sells gas 50 cents a gallon cheaper than what he buys it for to help customers
A man in Phoenix is losing hundreds of dollars each day after shaving nearly 50 cents off per gallon at his gas station to help customers weather skyrocketing fuel prices. Jaswiendre Singh, who runs the business at the corner of Osborn Road and 20th Street, showed Arizona’s Family on Wednesday that he buys gas from a supplier for $5.66 per gallon but sells it for just $5.19 per gallon. Singh started offering discounts as early as March, decreasing the gas station’s purchase price by 10… Source link
Read More »Gas prices top $4 a gallon nationwide, all-time record could be broken this week
The national average price for gas has topped $4 a gallon for the first time in over a decade as gas costs continue to soar in the wake of Russia’s invasion of Ukraine. As of Sunday afternoon, the national average of a regular gallon of gas was $4.009, according to AAA. That’s up 8 cents from Saturday and up 40 cents from last week. The U.S. hit the $4 national average a day earlier than analysts expected. The record high for the national average is $4.11, set on July 17, 2008, according to… Source link
Read More »California gas prices are sky high, with one town charging almost $8 a gallon
A Chevron station in the 900 block of Alameda Street in downtown Los Angeles has gas prices just under $6 a gallon. The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Friday for the 11th consecutive day, the largest week-to-week increase since March. (Al Seib / Los Angeles Times) It’s not your imagination. California, like the rest of the nation, is paying more at the pump. Prices are so high — and consumers are so perplexed — that a Google search of… Source link
Read More »