fuel prices

Government, Business, Fuel

OPEC+ Ministers Say Pumping More Oil Wouldn’t Ease Gas Prices

Abdulaziz bin Salman, Saudi Arabia's energy minister Prince Abdulaziz bin Salman, Saudi Arabia's energy minister. (Andrey Rudakov/Bloomberg News)

Saudi Arabia’s energy minister said a dearth of refining capacity meant that gasoline and other oil products would remain expensive even if the world’s biggest exporters pumped more crude.

May 16, 2022
Government, Business, Fuel

Diesel, Gas Refining Capacity Too Low to Meet Demand

Fuel prices at a gas station in Seattle Fuel prices at a gas station in Seattle. (Chona Kasinger/Bloomberg News)

From record gasoline prices to higher airfares to fears of diesel rationing ahead, America’s runaway energy market is disquieting both U.S. 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.

May 13, 2022
Government, Business, Fuel

Ban on ‘Excessive’ Gas Prices Heading for House Vote

House Speaker Nancy Pelosi speaks during a news conference at the Capitol May 12, 2022. House Speaker Nancy Pelosi speaks during a news conference at the Capitol May 12, 2022. (Sarah Silbiger/Bloomberg News)

The U.S. president would have the authority to declare an emergency that would make the sale of gasoline at “excessive” prices illegal under legislation House Democrats plan to bring to the floor next week.

May 12, 2022
Government, Business, Fuel

Gas Prices Hit Record With Driving Season Looming

A fuel nozzle in vehicle at a Chevron gas station in San Francisco A fuel nozzle in vehicle at a Chevron gas station in San Francisco. (David Paul Morris/Bloomberg News)

Retail gasoline and diesel prices rallied to a record just ahead of the nation’s summer driving season, a challenge for President Joe Biden and the Federal Reserve as they face the fastest inflation in decades.

May 10, 2022
Business, Fuel

At More Than $4.30 a Gallon, Gasoline Nears Its March Record

Customer pumps gas into car A customer pumps gas into his car at a San Francisco gas station on April 27. (David Paul Morris/Bloomberg News)

Gasoline pump prices in the U.S. are rising to within a hair of an all-time record three weeks ahead of the peak driving season.

Chunzi Xu | Bloomberg News
May 9, 2022
Government, Business, Fuel, TCA

New England Copes With Soaring Diesel Prices

A gas station in Massachusetts on May 4 A gas station in Massachusetts on May 4 shows the disparity between gasoline and diesel prices. (Stuart Cahill/Boston Herald via Tribune News Services)

Experts worry that a continuing rise in diesel costs will affect prices at your local grocery store, on top of the inflation that has already caused prices to soar. And currently that pain is particularly acute in New England, where diesel prices have vaulted past the $6-a-gallon mark.

Rick Sobey | Boston Herald
May 5, 2022
Government, Business, Fuel

Top Democrats Push for FTC Crackdown on High Gas Prices

Rep. Maria Cantwell, Sen. Chuck Schumer and Rep. Frank Pallone Left to right: Rep. Maria Cantwell, Sen. Chuck Schumer and Rep. Frank Pallone want the FTC to have a dedicated team of experts monitoring transportation fuels and looking out for any suspicious pricing behavior. (Mariam Zuhaib/Associated Press)

WASHINGTON — Citing growing worries about high gasoline prices, Democratic leaders announced an effort April 28 to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.

April 28, 2022
Government, Business, Fuel

Dems Consider Legislative Moves to Cut Gas Prices

Sens. Chuck Schumer and Nancy Pelosi Sens. Chuck Schumer and Nancy Pelosi by Stefani Reynolds/Bloomberg News

House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer met on April 27 to discuss possible legislation to reduce gas prices, according to a Democratic aide.

Erik Wasson | Bloomberg News
April 27, 2022
Business, Technology, Fuel

Amazon Adds 5% Fuel, Inflation Surcharge for Sellers

Amazon Adds 5% Fuel, Inflation Surcharge for Sellers Amazon.com Inc. signage is displayed in front of a warehouse in the Staten Island borough of New York. (Michael Nagle/Bloomberg)

Amazon.com Inc. will charge businesses that sell products on its website a 5% fuel and inflation fee beginning April 28, according to documents reviewed by Bloomberg, a first for the company.

Spencer Soper | Bloomberg News
April 13, 2022
Government, Business, Fuel

Dems Accuse Oil Execs of Profiteering as War Strains Supplies

Citgo gas station in Rolling Meadows, Ill. A Citgo gas station in Rolling Meadows, Ill., on April 1, 2022. (Nam Y. Huh/Associated Press)

Congressional Democrats excoriated executives from some of the world’s biggest oil companies on April 6, accusing them of exploiting the war in Ukraine and a surge in crude prices to secure windfall profits at the expense of American motorists.

April 6, 2022

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