gas prices

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$4 Gas Expected This Spring
$4 Gas Expected This Spring
Mar 12, 2008 4:40 AM CDT

$4 Gas Expected This Spring

Energy Department predicts gas prices to peak soon

(Newser) - Skyrocketing gas prices could hit $4 a gallon as early as this spring, predict government analysts. A new Energy Department report estimates prices will peak at close to $3.50 in most of the nation in May and June, but the $4 barrier could be broken in some regions, and...

Dollar Hit as Emerging Economies Fight Inflation

$108 oil pushes gas prices higher

(Newser) - A weak US dollar continued to fuel surging commodity prices today, keeping oil near $108 a barrel and moving a gallon of gas to $3.225, with analysts predicting near $4 prices by spring, the Wall Street Journal reports. Stress on the greenback is coming from not only major but...

Shops Shut as Wind Goes Out of Sales

Store closings rise along with gas prices, foreclosures

(Newser) - Soaring gas prices and a still-boiling housing crisis are taking their toll on America's smaller retailers, with store bankruptcies and vacancy rates rising steadily as customers avoid impulse-buys that once fueled the industry's rapid expansion, reports AP. Vacancies hover between 7% and 8%, up from 5% just six months ago—...

Gas Prices Hit Record High
Gas Prices Hit Record High
Mar 10, 2008 8:50 AM CDT

Gas Prices Hit Record High

$4 gallon of gas around the corner, experts warn

(Newser) - Gas prices rocketed 64 cents in the last year to a national average of $3.20 per gallon of regular, CNN reports.  A survey of prices at 5,000 gas stations found the highest price, $3.58, in San Francisco and the lowest, $2.99, in Cheyenne, Wyoming. The...

US Car Sales Sink in Slow Economy
US Car Sales Sink in Slow Economy
Mar 3, 2008 9:45 PM CST

US Car Sales Sink in Slow Economy

GM, Ford, Chrysler, and Toyota saw sales fall last month

(Newser) - A tumbling US economy hit Ford, General Motors, Chrysler, and Toyota today as all four posted declining sales for last month, Bloomberg reports. Chrysler fell 14% as Ford dropped nearly 7% and GM suffered almost a 20% drop in light truck sales. "Primarily it's driven by the weak economy,...

Beer and Pizza Getting Pricey
Beer and Pizza Getting Pricey
Mar 1, 2008 3:58 PM CST

Beer and Pizza Getting Pricey

Rising fuel and ingredient costs affect traditional cheap eats

(Newser) - Even cheap foods like pizza and bagels are getting pricey these days over a mix of inflationary pressures, MSNBC reports. Last year's shocking 4% food price hike was driven by more than gas prices, one analyst says: It's diesel that fuels the trucks and trains that transport goods. "It's...

Dollar's Slide Pushing Oil Prices Higher

Economic data hammers the greenback as worries about US economy deepen

(Newser) - The dollar continued its fall as unrelentingly dismal economic data eroded confidence in the US economy, Bloomberg reports. The greenback set a new low of $1.52 against the euro this morning and hit a three-year bottom against the Japanese yen. Oil surged more than $2 a barrel to $103....

House Passes Bill to Halt Big Oil Tax Breaks

Veto threat as Republicans call it industry discrimination

(Newser) - Millions of dollars in tax breaks enjoyed by the top five oil companies would be rescinded under an $18 billion tax package which cleared the House of Representatives yesterday. The money saved would be plowed into creating alternative sustainable energy sources. It represents just a penny a gallon to the...

$100 Oil Fuels Recession Fears
$100 Oil Fuels Recession Fears
Feb 21, 2008 12:47 PM CST

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

(Newser) - Oil prices have jumped 16% in two weeks, and analysts tell the Christian Science Monitor the run-up couldn't come at a worse time. As the US economy flirts with recession, beleaguered consumers could end up spending their economic stimulus checks to cover even higher gas prices. The $101.32 per...

Shell Profits Spike to a Record $27.6B

Critics say the oil giant's earnings are 'obscene' and want a windfall tax

(Newser) - Soaring crude prices and new oil and gas projects drove Royal Dutch Shell to 2007 profits of $27.6 billion—a new record for a British corporation—despite declining production. While critics branded the results “obscene” and called for a windfall tax, Shell’s CEO called them “satisfactory”...

An Oil Giant, Alaska Faces Gas Crisis

Poor infrastructure, focus on oil exploration behind costly supply issues

(Newser) - Alaska—home of America's largest energy reserves—is facing a major energy crunch. The problem is a lack of infrastructure to get natural gas where it needs to be, the Christian Science Monitor reports. "It's the goofiest thing in the world, to be sitting on top of some of...

Talk About 'Blue Monday'
Talk About 'Blue Monday'
Jan 21, 2008 12:25 PM CST

Talk About 'Blue Monday'

Tracking Google searches shows low point before, not after, holidays

(Newser) - Unless you're a Giants fan, it's likely you woke up this morning feeling a bit more than the usual Monday blahs. The third Monday in January is the most depressing day of the year, says a Cardiff University researcher. He bases his annual predictions on weather, holiday debt, and broken...

2008 Forecast: Oil Prices Dip as Supply Rises, Economy Slows

$80-$85 a barrel would aid consumers

(Newser) - A slowing US economy and rising oil production will lower the price of crude to between $80 and $85 a barrel in 2008, predicts the Christian Science Monitor. While still higher than the $71 average for 2007, it’s a drop from current prices near $93. Lower prices could ease...

Retailers Slash Prices to Boost Slumping Season

Plagued by high gas and food prices, shoppers hold out for bargains

(Newser) - Retailers slashed prices nationwide this weekend in a bid to draw last-minute shoppers and lift a slumping holiday season, Bloomberg reports. Pressed by high gas and food prices, consumers are holding out for zero-hour deals; retailers have obliged with half-off sales and extra hours, counting on the last days before...

Consumer Prices Jump Most in 2 Years

CPI surge on rising energy costs sparks inflation worries

(Newser) - November’s consumer price index spiked 0.8%—the biggest rise since September 2005—as soaring energy costs pushed up prices on an array of  goods and services. The increase, higher than the 0.6% anticipated, reignites inflation worries, causing experts to predict that further Fed rate cuts are unlikely,...

Oil Slips Under $88 as US Economy Fuels Concern

Dropping prices come as Fed set to meet Tuesday

(Newser) - Weaker than anticipated US job growth reported Friday helped extend a decline in crude oil prices today, with futures dipping below $88 on Asian markets, reports the AP. Fears of a slowing economy and reduced demand are driving the decline. Investors had bet better employment figures would prompt the Fed...

OPEC Declines to Boost Oil Output
OPEC Declines to Boost
Oil Output
Dec 6, 2007 10:33 AM CST

OPEC Declines to Boost Oil Output

$80 crude seems to be producers' new target; $3 gas isn't going anywhere soon

(Newser) - OPEC’s decision yesterday not to boost oil production, despite prices hovering around $90 a barrel, underscores a new reality, the New York Times observes: the oil producers aim to keep prices nearly that high—say around $80 a barrel—a target unthinkable a few years ago. In the US,...

Gas Prices Likely to Climb 20 Cents by Next Month

Even if OPEC increases production and oil gets cheaper, it'll cost you

(Newser) - Gas prices will go up at least another 20 cents in December, and they could climb further after that if OPEC doesn't increase production, says a top Energy Department forecaster. Gas prices will keep rising even if crude prices fall, says Guy Caruso, because the refiners haven't fully passed along...

US Crude Eases Below $96
US Crude Eases Below $96
Nov 12, 2007 7:52 AM CST

US Crude Eases Below $96

Oil prices drop as Saudi Arabia says OPEC will discuss hiking output

(Newser) - Oil prices paused in their headlong rush to $100 a barrel today on news from the Saudis that OPEC will discuss raising output when the group's heads of state and oil ministers meet in Riyadh this week. US crude, which reached a record $98.62 Nov. 7, traded below $96...

Soaring Oil Prices Create New Winners, Losers

Global balance of power is up for grabs

(Newser) - With oil prices inching toward the $100-a-barrel mark, the New York Times looks at how soaring prices are redrawing the world's power grid: from oil-rich nations swimming in cash to oil-importing nations "clawing at each other to lock up scarce supplies."  In Venezuela, oil is funding a...

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