gas prices

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Obama: Let's Stop Giving Money to Oil Companies

Energy policy continues to get big attention amid rising gas prices

(Newser) - President Obama again went on the offensive over rising gas prices today, notes ABC News . Speaking in New Hampshire, he told Americans to call their congressional representatives and demand they end the $4 billion subsidies to gas and oil companies. His takeaway line: “You can either stand up for...

Iran Tensions Could Mean $5 Gas

Recent posturing has already sent price up 20%

(Newser) - Going to war with Iran would be an expensive proposition for America's drivers. Tensions over the country's nuclear ambitions have already pushed crude oil prices up 20% to a record winter high, energy experts tell the New York Times . That's translated to an average $3.73 per...

Gingrich Pins Hopes on New Theme: Cheap Gas

Just call him 'President Drilling': Politico

(Newser) - Newt Gingrich thinks rising gas prices might just be his ticket to the White House, reports Politico . His new campaign focus is all about how he can fix President Obama's energy policy and make the US less dependent on foreign oil. How? Well, he's begun calling himself "...

Obama Mocks GOP's '3-Point Plan' for Cheap Gas

Drill, drill, and drill

(Newser) - With gas prices on the rise and looming as a big campaign issue, President Obama defended his energy policies today, cautioned that no "silver bullet" exists, and made sure to poke fun at Republicans' "three-point plan" to fix things, reports MarketWatch . “Step one is to drill, and...

$4.25 a Gallon? Gas Prices Could Be Trouble for Obama

Republicans plan to make it a big issue

(Newser) - The AP is out with stats that will not be welcome news at the White House: Gas is at $3.53 a gallon, up 25 cents from Jan. 1. Worse, one forecast sees $4.25 a gallon by May. And as the New York Times reports, the GOP can't...

Nigeria Cuts Fuel Prices, Halting Strikes

But some say renewed subsidies fall short

(Newser) - Strikes that shut down Nigeria's economy last week are off—at least temporarily—after the country's president announced new fuel subsidies. President Goodluck Jonathan has slashed fuel prices by a third to 97 naira per liter, or $2.27 per gallon, after they more than doubled Jan. 1,...

Pricey Gratitude: Thanksgiving Costs Soar

Gas, airfare up 20% from a year ago

(Newser) - Tens of millions of Americans are now on the move for Thanksgiving, but the soaring cost of travel is keeping many others at home. Some 42.5 million Americans are expected to drive, fly, or ride trains over the holiday, and gas prices are up almost 20% from last year,...

US Drivers Set to Spend Most Ever on Gas in 2011
US Drivers Set to Spend
Most Ever on Gas in 2011
depressing records
Sep 13, 2011 10:27 AM CDT

US Drivers Set to Spend Most Ever on Gas in 2011

Total tab could hit $491B

(Newser) - The average price for a gallon of gas at a US pump was at a not-too-pretty $3.66 yesterday. The good news: That's significantly lower than the $4.11 all-time high hit in 2008. The bad news: We'll likely have 2008 beat when it comes to a stat...

Michele Bachmann Again Vows $2 Gas
 Bachmann Again 
 Vows $2 Gas 
Sep 4, 2011 12:51 PM CDT

Bachmann Again Vows $2 Gas

Slams White House for blocking domestic energy production

(Newser) - Michele Bachmann isn't giving up on her $2-a-gallon gas, today repeating her pledge to bring pump prices down, reports Politico . Asked by Face the Nation's Bob Scheiffer how she would hit that magic number, Bachmann cited "an all-of-the-above energy strategy,” blasting the Obama administration for foiling...

Recession Worse Than Thought; GDP Growth Weak

Economy grew just 1.3% over past three months

(Newser) - We already knew the Great Recession was the worst in decades, but in fact we were even worse off than we thought, new figures show. The economy shrank 5.1% over the course of the recession, from 2007 to 2009—1 percentage point worse than the earlier estimate of 4....

Barron's Projects $150 Oil and $4.50 Gas Next Spring
 Brace for $150 Oil 
 —and $4.50 Gas 
analysis
Jul 2, 2011 11:12 AM CDT

Brace for $150 Oil —and $4.50 Gas

Barron's projects those averages for next spring

(Newser) - Enjoy the relative lull in gas prices while it lasts: Barron's cover story projects $4.50 a gallon "will become the norm" by next spring. "That will put a huge dent in consumer wallets, while ramping up the desirability of fuel-efficient cars," writes Gene Epstein. He...

Consumer Spending Weakest in 20 Months

May showed first decline since January 2010

(Newser) - Americans spent in May at the weakest pace in 20 months, a sign that high gas prices and unemployment are holding back the economy. Consumer spending was unchanged, the worst result since September 2009, the Commerce Department said today. When adjusted for inflation, spending actually dropped 0.1%—the first...

This Time, Let's Not Gut Energy Research When Gas Prices Go Down: Seth Fletcher
 Now Are You Ready 
 for Electric Cars? 
OPINION
May 10, 2011 1:26 PM CDT

Now Are You Ready for Electric Cars?

Seth Fletcher explains why America needs to learn from its mistakes

(Newser) - America is responding to the recent spike in gas prices in the same “depressingly predictable” fashion it always has. “We’re shocked to see prices top $4 a gallon, as if it’s never happened before,” writes Seth Fletcher in the New York Times . “We demand...

Walmart: Gas Prices Hurting Our Shoppers

CEO says customers 'running out of money'

(Newser) - Walmart shoppers are running out of cash, pinched by high gas prices and unemployment, the company’s CEO said this week. “We’re seeing core consumers under a lot of pressure,” Mike Duke said at a retail industry gathering, according to CNN . “There’s no doubt that...

Exxon Scores $11B in Profits
 Exxon Scores $11B in Profits 
Apr 28, 2011 10:37 AM CDT

Exxon Scores $11B in Profits

It's oil giant's best quarter since 2008

(Newser) - Gas prices are soaring, and so are Exxon Mobil's profits. The oil giant raked in $10.65 billion in profits in the first quarter of 2011, its best performance since the gas price spike of 2008. The $2.14-per-share profit well exceeded analysts' $2.04 estimates, the AP reports....

Gas Prices Drain Obama Approval Rating: Poll

Just 39% of hard-hit drivers approve of president's job performance

(Newser) - Gas prices are hurting Americans—and they’re hurting President Obama’s poll numbers, too, a Washington Post/ABC News survey finds. Some 60% of respondents said they are reducing their driving thanks to the prices, while 70% said the prices were causing money woes, the Post reports. Of those who...

More Drivers Running Out of Gas

AAA going out on a lot more calls since March

(Newser) - Your sign of the day that gas prices are getting uncomfortable: AAA reports an 18% increase since March in roadside calls for drivers who have run out of gas. “Before it was more absentminded than anything else,” a Pittsburgh gas station attendant tells KDKA-TV . Now, "I believe...

Obama: No 'Silver Bullet' on Gas Prices

He announces task force to investigate fraud by speculators

(Newser) - As President Obama continues his short trek on the West Coast, one issue continues to gain traction, reports Politico —those ever-rising gas prices. Today in Reno, the president announced that a new Justice Department task force will investigate whether speculators are manipulating gas and oil prices, notes the Christian ...

Gas Prices: National Average is $3.82, With 5 States and DC over $4
Gas Prices Hit $4 in DC,
Five States
Apr 16, 2011 12:05 PM CDT

Gas Prices Hit $4 in DC, Five States

New York expected to join the crowd next week

(Newser) - Still climbing: DC motorists are now paying a shade over $4 per gallon at the pumps, joining five states—Alaska, Connecticut, Hawaii, California, and Illinois—where fuel prices have surpassed the $4 mark, reports AP . New York ($3.996) might join them next week. On the rise for 25 consecutive...

Consumer Spending Up... Thanks to Gas Prices

Personal income up 0.3%, but inflation hits hard

(Newser) - Consumer spending rose at its fastest rate in four months in February—but that’s in large part due to rising gas prices. Consumer spending climbed 0.7%, while personal income rose 0.3% following January’s 1.2% jump, the AP notes. Both gains reflected a Social Security tax...

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