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Gas prices

Why a gas tax holiday likely wouldn't make a big difference at the pump

by Matt Levin
Mar 9, 2022
The savings would average about $100 a year for drivers, and that's assuming all the savings would get passed on to consumers.
Even if the federal gas tax is paused, there's no guarantee those savings would be passed on to consumers.
Scott Olson/Getty Images
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Lawmakers want to suspend the federal gas tax. Is that a good idea?

by Janet Nguyen
Mar 9, 2022
If several Democratic lawmakers have their way, consumers could soon get a break from a tax of 18.3 cents per gallon.
The national average for a gallon of regular gas was $4.252 on March 9, AAA reported, breaking the 2008 record of $4.10.
Stefani Reynolds/AFP via Getty Images
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Has the pandemic made the U.S. less vulnerable to oil price spikes?

by Matt Levin
Mar 8, 2022
Biden's ban on Russian oil may raise already high fuel prices. Though recessions followed past runups, this time may be different.
High oil prices may not affect the U.S. like they used to. We produce a lot of the commodity ourselves, and many households are flush with savings.
David Ryder/Getty Images
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How rising oil prices make gasoline more expensive

by Justin Ho
Mar 7, 2022
Gas prices are based on oil prices, and traders are getting nervous about a potential ban on imported Russian oil.
Gasoline prices have surged along with the price of crude oil. The war in Ukraine has raised the possibility of a ban on imports from Russia, which could squeeze the global supply.
Mandel Ngan/AFP via Getty Images
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Pressure to stop buying Russian energy builds

by Amy Scott
Mar 4, 2022
Europe and the U.S. have not ruled out bans on oil and gas purchases. For some countries, ending imports would be harder than for others.
Europe and the U.S. are facing calls to terminate imports of Russian oil and natural gas. That would be harder for some countries than for others.
Lionel Bonaventure/AFP via Getty Images
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A Warmer World

$100-a-barrel oil may soon be a reality — and stick around

by Andy Uhler
Jan 19, 2022
“It is ultimately about supply and demand,” one expert says. And COVID-19.
High oil prices mean high gas prices. The costs at the pump may not go down anytime soon.
Justin Sullivan/Getty Images
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Higher gas prices are likely here to stay through the holidays

by Justin Ho
Nov 25, 2021
President Biden has released 50 million barrels of oil from strategic reserves, but oil production hasn't caught up to pre-pandemic levels.
Gas prices are nearly 60% higher than this time last year, according to AAA.
Andrew Caballero-Reynolds via Getty Images
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Biden's release from petroleum reserve probably won't move gas prices

by Andy Uhler
Nov 23, 2021
They're high because oil producers aren't ramping up supply quickly enough.
Oil producers' “incentives are all aligned to keep prices high," an expert says. "And that is going to create some real pain for consumers.”
Andrew Caballero-Reynolds/AFP via Getty Images
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Biden administration considers its options as gas prices rise

by Justin Ho
Nov 18, 2021
Officials are considering releasing oil from the strategic reserve. They’re also pushing the FTC to investigate possible price gouging.
There are several factors that go into why the price for gas can be so different from country to country.
Justin Sullivan via Getty Images
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The first great shock of the energy transition

by David Brancaccio and Daniel Shin
Nov 4, 2021
Vijay Vaitheeswaran, editor at The Economist, on what energy shortages and rising fuel prices mean for the transition to clean energy.
An aerial view of a crude oil storage facility is seen on May 5, 2020 in Cushing, Oklahoma. Rising demand for crude oil along with rising gas prices has led to an "energy shock" as the world attempts to transition to clean energy.
Photo by JOHANNES EISELE/AFP via Getty Images
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