-
The federal shutdown had economists worried, but consumers have had something to smile about. Gasoline prices are the lowest in three years — under $3 a gallon in some places. Analysts credit greater supplies, lower demand, the easing of Middle East tensions and even a slow hurricane season.
-
Supplies of oil have been surging this year, and U.S. drivers, who have been switching to more fuel-efficient cars, are using less gasoline. That would seem to be the right economic combination to push down prices at the pump, but gasoline prices have remained stubbornly high this summer.
-
Ready for a long Memorial Day weekend? If you’re heading out, you may want to look at the numbers. AAA Colorado predicts that 600,000 Coloradans will…
-
The good news: Inflation remains in check. The bad news: Jobless claims are up, and housing starts are down.
-
The International Energy Agency says U.S. shale output and petroleum from Canada's tar sands are transforming global energy markets.
-
Drivers will find this summer's gas prices are lower than last year's, the result of a spike in crude oil production. Government forecasters say a gallon of regular gasoline will cost about $3.50 this summer — a slide of more than 10 cents from last year.
-
With higher prices for gasoline factored out, spending rose a more modest 0.3 percent. Meanwhile, personal income rose a healthy 1.1 percent.
-
The IMF says that price of gasoline in the U.S. covers the cost of producing and distribution gasoline but it doesn't reflect the costs that gasoline consumption imposes on society — in the form of traffic, congestion, pollution and global warming. Linda Wertheimer talks to David Wessel, economics editor of The Wall Street Journal, about a new IMF report on energy subsidies.
-
Prices rose overall by 0.7 percent. The major factor: a 9.1 percent surge in gasoline. Since February, though, gas prices have retreated. So economists do not think the latest report changes the inflation picture.
-
Gas prices typically rise this time of year as refineries switch to summertime formulas, which are designed to reduce smog. But because of maintenance work — partially delayed by Superstorm Sandy — the run-up in prices is happening earlier this year.