Tag Archives: gas

More than half of Canadians believe high gas prices are here to stay, and could push higher, according to a public opinion poll by Yahoo/Maru. Most Canadians believe high gas prices are here to stay, and could keep pushing higher, a new Yahoo/Maru public opinion poll shows. However, only 16 per cent say they’re serious about buying a fully electric or hybrid vehicle for their next automotive purchase. The survey found more than a quarter (27 per cent) of respondents point to international… Source link

NEWARK, N.J.—Outraged by the invasion of Ukraine, lawmakers in New Jersey’s largest city lashed out at one of the closest symbols of Russia they could find—a pair of Lukoil gas stations. The Newark City Council voted unanimously Wednesday to ask the city’s business administrator to suspend the service stations’ operating licenses, citing Lukoil’s base in Moscow. In doing so, however, they may have predominantly been hurting Americans. The stations are franchises owned by locals, not… Source link

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

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 Friday, March 4, 2022 Shopping, and driving, through the era of high costs Every now and again, we here at the Morning Brief delight in bringing our readers some good news that helps leaven a news diet filled with grim to outright depressing news. As Russia continues its brutal frontal assault on Ukraine — which continues to whipsaw markets —… Source link

Even before Russia’s invasion of Ukraine, U.S. gas prices were rising rapidly — and are now marching toward a national average of $4 per gallon or higher in the coming months with the crisis showing no signs of abating. As sanctions isolate Moscow and crimp Russian energy supplies, skyrocketing crude oil and gas prices will impact consumers and businesses already facing the highest inflation levels since 1982. On Thursday, Brent (CL=F) briefly flirted with $120 per barrel, with U.S. oil ( Source link

Biden administration officials and Democrat senators are considering a suspension of the federal fuel tax in order to combat record inflation levels ahead of the Federal Reserve’s planned rate hikes. The proposition has received bipartisan pushback from legislators who are skeptical about the efficacy of a gas tax holiday. According to the Tax Foundation, a Washington, D.C.-based think tank which collects data and publishes research studies on U.S. tax policies at both the federal and state… Source link

Start saving those pennies as driving your car may cost way more in 2022, predicts gas price tracking firm GasBuddy.  In a new study released on Wednesday, GasBuddy forecasts the nationwide average price for gas will be $3.41 in 2022. The current price nationwide averages about $3.29. GasBuddy thinks prices could near $4 a gallon by June as drivers take to the roads for the summer.  As no surprise, California is seen as primed for more gas price inflation in 2022.  GasBuddy thinks gas prices… Source link

One month ago, gas prices—up 50% during the last year—were looking like the bane of Joe Biden’s presidency. Then three things happened: Combined, these developments have shaved oil prices by more than 20% since late October. Gas prices haven’t yet fallen by the same amount, but they most likely will. Gas prices lag oil prices whether going up or down, but only by a few weeks, as the following chart shows. So gas prices should be dropping by the end of the year. There’s already been a… Source link

Stephen Shankland/CNET Google and IBM… Source link

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