Gas Prices

Energy Crisis
Gas Prices
Oil

The US Can't Make Enough Fuel and There's No Fix in Sight

(Bloomberg) — From record gasoline prices to higher airfares to fears of diesel rationing ahead, America’s runaway energy market is disquieting both US travelers and the wider economy. But the chief driver isn’t high crude prices or even the rebound in demand: It’s simply too few refineries turning oil into usable fuels. More than 1 […]

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Gas Prices
Gasoline Prices

U.S. Gasoline Price Shock’s Roots Go Deeper Than Crude’s Surge

(Bloomberg) — America’s drivers are being squeezed at the pump, and the root cause is surging oil prices. But that’s not the whole story. Gasoline prices rise and fall with the price of crude, though not always in sync or to the same extent. Add to that: taxes, refining costs, and distribution and marketing costs. […]

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Gas Prices
Gasoline Prices
Oil Price

Visa Changes Rules for Gas Stations to Avoid $125 Pump Limit

(Bloomberg) — Visa Inc. and Mastercard Inc. are planning a raft of changes to rules for gas stations to allow larger transactions after a surge in fuel prices across the U.S. made it hard for some drivers to fill up using credit cards. Many gas stations have a $125 limit for Visa transactions at the […]

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Biden
Gas Prices
Gasoline Prices
Inflation

Biden Is Calling Out the Surge in Gas Prices — Again

(Bloomberg) — Oil prices may have eased, but gasoline at the pump hasn’t — a familiar problem for the Biden administration grappling with elevated inflation in the U.S. West Texas Intermediate crude futures, the U.S. benchmark, have dropped from multi-year highs above $120 a barrel touched after Russia’s invasion of Ukraine, but the national average […]

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Gas Prices
Inflation
Oil Price

Are oil and gas companies price gouging consumers at the pump?

With gasoline prices poised to reach a new all-time high within days, President Joe Biden recently issued a stern warning to the nation’s oil producers and gas retailers. “American oil and gas companies should not – should not exploit this moment to hike their prices to raise profits,” Biden said in a speech. Are they, […]

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Crude Oil
Gas Prices
Gasoline Prices
Oil

This state may see nearly $6 gas in 2022: study

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 […]

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Crude Oil
Energy Crisis
Gas Prices
Oil
Oil Price

Who’s to Blame for the Pain at the Pump? It’s Complicated

(Bloomberg) — President Joe Biden didn’t mince words as he blamed the oil industry for gasoline prices running at a seven-year high. “Gas supply companies are paying less and making a lot more,” he said in televised remarks from the White House last week. “That’s unacceptable.” Within minutes, the oil industry and its congressional backers […]

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