Dec 28 Watch 7:14 How U.S. oil production reached an all-time high in 2023 By William Brangham, Shoshana Dubnow As the year comes to a close, gas prices in the U.S are at their lowest point of 2023. And not coincidentally, domestic oil production is at a record level. But it comes at a time when the U.S. is… Continue watching
Dec 18 BP joins list of companies halting Red Sea shipments due to Houthi attack fears By Courtney Bonnell, Associated Press Houthi rebels have targeted container ships and oil tankers passing through a narrow waterway that connects to the Red Sea and Suez Canal, where an estimated 10% of the world’s trade passes through. Continue reading
Sep 25 How oil price hikes boost Russia's war as drivers pay more for gas By David McHugh, Associated Press Behind the recent bump in price is Saudi Arabia's decision to slash how much oil it sends to global markets through the end of the year. Russia also is cutting back, and less supply means higher prices. Continue reading
Sep 13 August inflation rises due to higher gas prices, yet underlying core measures cooled By Christopher Rugaber, Associated Press Excluding the volatile food and energy categories, so-called core prices rose 4.3 percent, down from 4.7 percent in July and the smallest increase in nearly two years. Continue reading
Mar 27 California lawmakers approve potential fines for high gas prices By Adam Beam, Associated Press California lawmakers have approved the nation's first penalty for price gouging at the pump. The state Assembly passed a bill on Monday that would empower state regulators to punish oil companies for profiting from price spikes. Continue reading
Mar 23 California proposes bill that may punish oil companies for high gas prices By Adam Beam, Associated Press A bill to punish oil companies for profiting from price spikes at the pump has passed the California Senate. Continue reading
Jan 29 Analysis: Cost of living may be rising faster for rural Americans By Stephan Weiler, Tessa Conroy, The Conversation When the Federal Reserve convenes at the end of January 2023 to set interest rates, it will be guided by one key bit of data: the U.S. inflation rate. The problem is, that stat ignores a sizable chunk of the… Continue reading
Dec 19 EU countries reach compromise on natural gas price cap By Samuel Petrequin, Associated Press European Union ministers have finalized a long-awaited deal to implement a natural gas price cap that they hope helps households and businesses better weather price surges. Continue reading
Dec 16 Gas prices have dropped but still strain some drivers By Cathy Bussewitz, David McHugh, Associated Press Drivers now hope the situation doesn’t get worse after a series of cutbacks tied to Russia’s war in Ukraine, accidents and the slowing global economy have strained the world’s oil supply. Continue reading
Dec 13 Slowdown in inflation eases some pressure on American households By Christopher Rugaber, Associated Press Inflation in the United States slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households. Continue reading