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California Governor Escalates the War on Gasoline Impacting Neighboring States
California Governor Escalates the War on Gasoline Impacting Neighboring States Prepare to pay another $1 per gallon in California with higher prices in Nevada and Arizona too. The War on Gasoline a Gift to Trump The Wall Street Journal says Gavin Newsom’s War on Gasoline Is a Gift to Donald Trump. California’s prices are the highest […]
Ukrainian Drone Strikes Target Russian Oil Refineries Again Despite White House Pleas
Ukrainian Drone Strikes Target Russian Oil Refineries Again Despite White House Pleas Just days after the Biden administration signed a new military aid package worth billions of dollars to Ukraine, Kyiv launched a series of suicide drone attacks on Russian oil refineries. Biden’s top officials have pleaded with Kyiv to stop attacks on Russia’s energy infrastructure because of the fears that turmoil in […]
Record UK Gasoline Prices See Biggest Daily Surge In 17 Years
Record UK Gasoline Prices See Biggest Daily Surge In 17 Years UK gasoline prices continue to set records, with the daily price jump between Monday and Tuesday at its highest in 17 years, RAC, the UK’s longest-serving motoring organization, says. “The average price of petrol endured its biggest daily jump in 17 years by going […]
Households Worldwide Wrecked By Soaring Gas Prices
Households Worldwide Wrecked By Soaring Gas Prices Soaring commodity prices have been financially devastating for households, devoting larger and larger shares of disposable income to pay for energy. For instance, at nine California filling stations, the price of regular gas is higher than the federal minimum wage. Patrick De Haan of GasBuddy said several gas stations in Los […]
Has Gasoline Price Shock Triggered Demand Destruction Yet? And Where Will Gasoline Prices Go from Here?
Has Gasoline Price Shock Triggered Demand Destruction Yet? And Where Will Gasoline Prices Go from Here? There’s some demand destruction. But oil bounced again, gasoline might be next. My guess is a long-drawn-out zigzag higher. Following the dizzying spike in gasoline prices, the question arises when demand destruction will set in, where people start driving […]
Crude Oil WTI Futures Go Bananas, Briefly Spike to $130: And this Is What’s Happening at my Gas Station
Crude Oil WTI Futures Go Bananas, Briefly Spike to $130: And this Is What’s Happening at my Gas Station Speculators are reacting to other speculators who are reacting to whatever. Sunday night, crude oil WTI futures, as soon as trading started, spiked to $130.50 a barrel, the highest since July 2008. Maybe it was just […]
Gasoline Prices Rise Across US Again, Experts Warn More Pain at Pump Coming
A customer prepares to pump gasoline into his car at a Valero station in Mill Valley, Calif., on July 12, 2021. (Justin Sullivan/Getty Images) Gasoline Prices Rise Across US Again, Experts Warn More Pain at Pump Coming The price of gasoline has risen across the United States again as experts warn that more pain could lie ahead […]
In Response To Soaring Gas Prices, Biden Orders FTC To “Immediately” Probe “Illegal Conduct” By Oil & Gas Companies
In Response To Soaring Gas Prices, Biden Orders FTC To “Immediately” Probe “Illegal Conduct” By Oil & Gas Companies Commenting on perhaps the most absurd moment of the Xi-Biden virtual summit, which as we learned last last night, was the US president begging China to release oil from its strategic petroleum reserve (ostensibly because due to opposition […]
California Gas Prices Reach New Record High
Gas prices nearing $5.00 a gallon are displayed at Chevron and Shell stations in San Francisco, Calif., on July 12, 2021. (Justin Sullivan/Getty Images) California Gas Prices Reach New Record High The average price of a regular gallon of gasoline in California reached a record high on Monday as sticker shock continues to anger drivers paying more […]
Happy Days At The Gas Pump Are Over As Prices Soar
Happy Days At The Gas Pump Are Over As Prices Soar When the virus pandemic first hit early last year, Americans were locked down in their homes as gasoline demand plunged and prices crashed. Last April, the nationwide average for gasoline was around $2. According to AAA, prices are surging nationwide, up 32 cents in the previous […]
Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts With protests and unrest raging in multiple hot spots around the globe from Latin America to Hong Kong to Lebanon and Iraq, it could be Iran’s turn to join in. Amid a fresh price hike in gasoline — the latest in a string of woes to […]
Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World
Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa’s claim that the country is open for business. As Bloomberg reports, many shops and factories have shut their doors because of a lack of customers […]
US Traffic Volume Declines For The First Time In 4 Years
US Traffic Volume Declines For The First Time In 4 Years Trump’s fears that rising gasoline prices will impact consumer behavior have come true. The volume of traffic on U.S. highways has stopped growing, alongside gasoline consumption, as rising prices are starting to curb driving behavior, a new analysis by Reuters’ energy analyst John Kemp […]
Trump’s Ultimate Move To Lower Gasoline Prices
Trump’s Ultimate Move To Lower Gasoline Prices President Trump is reportedly considering tapping the strategic petroleum reserve to lower gasoline prices in an effort to neuter a political threat ahead of key midterm elections in November. Sources told Bloomberg that options are under consideration by the Trump administration, ranging from a minor 5-million-barrel test sale, […]
Can Trump Counter Soaring Gasoline Prices?
Can Trump Counter Soaring Gasoline Prices? Oil prices surged to their highest level in more than three years on Thursday, as the number and volume of supply outages continues to rise. The odds of a significant shortfall in supply are also growing by the day. With U.S. midterm elections nearing, the more oil prices continue […]
