Tag Archives: fuel prices

FuelBuddy released its most recent statistics on Monday, which show that fuel costs are skyrocketing in most states and towns. In Louisville, for example, the average cost of a gallon of petrol increased by 27.5 cents over the previous week to $3.51, based on a survey covering 644 petrol stations. …

The OPEC+ coalition, led by Saudi Arabia and Russia, has announced plans for a 1 million barrel cut to daily production, along with an extension of an earlier cut of equal size.Oil prices fell after rising by over 1% earlier in the session after OPEC+ oil producers agreed to voluntary …

The US consumer price inflation looks to have negatively surprised the consensus. Economists still predict that the Fed will hold interest rates steady until June 2024, when they will start to cut them. In other words, October saw a decrease in inflationary pressures.With fuel prices acting as a major drag …

Fears and concerns that the unrest in the Middle East could spread to the larger Gulf region, which produces oil and endanger world output, have driven up oil prices before retreating on Tuesday. The price of the worldwide standard for crude oil, Brent, increased by about 5% on Monday during …

The cost of living in the US is increasing. Last month’s overall inflation was heated up by higher gasoline prices, but the Fed received some good news: its preferred inflation indicator dropped to its lowest level in two years. For the 12 months ending in August, the core Personal Consumption …

US President Joe Biden on Monday called on oil and gas companies to use their record profits to cut costs for Americans and increase production, or pay a higher tax rate, as he struggled to rein in gasoline prices a week before the midterm congressional elections. In remarks at the …

US President Biden warned, on Monday, that oil companies would face a “higher tax” on their excess profits if they don’t reinvest in increasing output so as to bring prices at the pump down. “They have a responsibility to act in the interest of their consumers, their community and their …

President Joe Biden announced a plan on Wednesday to sell off 15 million barrels of American crude oil from the emergency supply and begin refilling the reserve as he tries to contain high fuel prices ahead of midterm elections scheduled on November 8.Biden’s decision came two weeks after the OPEC+ …

The American Petroleum Institute said that crude oil inventories fell by 1.3 million barrels in the week ending on the fourteenth of October. According to the weekly report of the American Institute, gasoline stocks in the United States decreased by 2.2 million barrels last week, and distillate stocks fell by …

Tuesday’s report by Conference Board has showed a recovery in consumer confidence in August according to preliminary data. Several analysts have pointed out the rebound in confidence to its highest level since May 2022 took pace as fuel prices fell throughout the month and stock prices rose during the first …