What to expect for gas prices in 2025
1 week, 3 days ago

What to expect for gas prices in 2025

CNN  

New York CNN — More good news is coming to inflation-weary drivers: Gas prices are expected to drop in 2025 for the third straight year, according to GasBuddy projections shared exclusively with CNN. However, De Haan warned that this projection for tame gas prices could be disrupted by several X-factors, including President-elect Donald Trump’s threatened tariffs on Canada and Mexico. “We just don’t see the stars aligning for President-elect Trump to realize gas prices that low.” Drill-baby-drill meets reality Although Trump’s drill-baby-drill focus could boost domestic production, the United States is already pumping more oil than any nation in world history. GasBuddy’s De Haan estimates that a 25% tariff on Canada and Mexico would lift retail gas prices by 30 cents to 70 cents a gallon.

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History of this topic

‘Did he lie?’: Trump questioning his price-lowering promises are possible sparks anger
3 weeks, 6 days ago

‘Did he lie?’: Trump questioning his price-lowering promises are possible sparks anger

Raw Story  

As a candidate, Donald Trump campaigned—and won—this year on the promise he would lower prices for Americans angry after the COVID pandemic's inflation brought steep price increases, but now he's backtracking, saying he's not sure he will actually be able to fulfill those vows. As recently as Sunday, MSNBC reports, Trump insisted, “We’re going to bring those prices way down.” …

Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil
1 month, 3 weeks ago

Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil

CNN  

CNN — President-elect Donald Trump may find the road to cheaper gas prices is a little rocky. Andy Cross/The Denver Post/Getty Images The United States produces more than 13.4 million barrels of oil each day and oil production is projected to increase to an estimated 13.6 million by the end of 2025 — the most oil produced by any country …

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74
2 months ago

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74

Live Mint  

Crude oil prices slid 2.5% on Wednesday, November 6, snapping a five-day winning streak, weighed down by a stronger US dollar as early reports suggested that Republican candidate Donald Trump is edging closer to securing a second term in the White House. Crude prices have experienced notable fluctuations in recent sessions, influenced by OPEC+'s decision to delay December production plans …

Oil countries predict an oversupply of gasoline by 2030 – driving down prices at US pumps
6 months, 3 weeks ago

Oil countries predict an oversupply of gasoline by 2030 – driving down prices at US pumps

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Good news for drivers, …

Biden’s biggest weakness and biggest strength going into 2024
1 year ago

Biden’s biggest weakness and biggest strength going into 2024

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. To boot, the survey showed Mr Biden losing Hispanic voters and young people against …

Explained: Why gas prices in the US are falling and will they continue to fall?
2 years, 4 months ago

Explained: Why gas prices in the US are falling and will they continue to fall?

Firstpost  

Falling gas prices gave Americans a slight break from the pain of high inflation, with the average price dipping below $4. Most analysts don’t think prices will spike in the short term unless something unexpected happens United States consumers are breathing a bit easier now that gasoline prices have come down from record levels, but pump prices are still high, …

Gasoline Prices Fall Below $4 a Gallon but Many Americans Still Fear a Possible Recession
2 years, 4 months ago

Gasoline Prices Fall Below $4 a Gallon but Many Americans Still Fear a Possible Recession

News 18  

Gas prices in the United States fell below $4 a gallon Thursday, retreating to their lowest level since March, a sign of relief for Americans struggling with historically high inflation and a political boost for President Joe Biden, who has been under pressure to do more to bring down prices. The decline below $4 per gallon “is providing much needed …

Gas prices dip just below $4 for the first time in 5 months
2 years, 4 months ago

Gas prices dip just below $4 for the first time in 5 months

Associated Press  

DALLAS — Gasoline prices have dipped under $4 for the first time in more than five months — good news for consumers who are struggling with high prices for many other essentials. “People were starting to watch their driving.” Schwarz expects oil prices to remain relatively stable at least for the next month or so, particularly after OPEC and partners …

White House: Falling gas prices mean more than OPEC numbers
2 years, 5 months ago

White House: Falling gas prices mean more than OPEC numbers

Associated Press  

WASHINGTON — President Joe Biden traveled to Saudi Arabia last month on the possibility that he could get some additional oil production out of OPEC+ in coming weeks, but the cartel and other nations announced a scant increase Wednesday. White House press secretary Karine Jean-Pierre noted that the decline began June 14, the day the administration disclosed plans for Biden’s …

Oil drops below $100 a barrel for first time since early May
2 years, 6 months ago

Oil drops below $100 a barrel for first time since early May

CNN  

Minneapolis CNN Business — For the first time in nearly two months, crude oil prices have fallen below $100 a barrel, reflecting investors’ growing concerns about a US recession that could crimp demand for oil. Gas prices crossed the $5 mark for the first time on June 11 and hit a peak of $5.02 a gallon on June 14. Oil …

Gas prices fall below $5 per gallon in the first weekly drop since April
2 years, 6 months ago

Gas prices fall below $5 per gallon in the first weekly drop since April

NPR  

Gas prices fall below $5 per gallon in the first weekly drop since April Enlarge this image toggle caption Marta Lavandier/AP Marta Lavandier/AP A gallon of regular gas costs just under $5 in the U.S. — still much higher than a year ago, but it's also the first time in nine weeks that the weekly national average has fallen. Crude …

Several factors are converging to push gas prices higher
2 years, 6 months ago

Several factors are converging to push gas prices higher

Associated Press  

DALLAS — There is little evidence that gasoline prices, which hit a record $5 a gallon on Saturday, will drop anytime soon. The United States is the world’s largest oil producer, but U.S. capacity to turn oil into gasoline is down 900,000 barrels of oil per day since the end of 2019, according to the Energy Department. At the end …

Gas prices jump to fresh record highs
2 years, 7 months ago

Gas prices jump to fresh record highs

CNN  

New York CNN Business — In another blow to the US economy, prices at the pump soared to fresh record highs. Real gas prices, adjusted for inflation, would need to climb above $5.30 a gallon to break the records set in 2008, according to the US Energy Information Administration. Still, the latest spike in gas prices will only make today’s …

Q&A: Forecasters say gasoline prices likely to remain high
2 years, 10 months ago

Q&A: Forecasters say gasoline prices likely to remain high

Associated Press  

DALLAS — Gasoline prices have smashed a 2008 record and are likely to head even higher, further fueling inflation and hitting consumers and businesses that are still coming to grips with the pandemic. After averaging $2.69 a gallon in 2019, U.S. gasoline prices collapsed as COVID-19 forced offices and businesses to close in early 2020. “Oil companies don’t set the …

US gas prices hit all-time high at $4.173 a gallon
2 years, 10 months ago

US gas prices hit all-time high at $4.173 a gallon

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Gas prices have increased as the Russian invasion …

How high could gas prices go? More pain at the pump likely coming
2 years, 10 months ago

How high could gas prices go? More pain at the pump likely coming

LA Times  

Based on wholesale gasoline futures just before Biden’s announcement, average gas prices will probably hit $4.50 a gallon nationally in the next couple of days. And if crude oil prices keep rising, analysts say it’s not hard to see fuel costs reaching $5 a gallon on average — which means $6 to $7 in California and some parts of the …

Americans warned to budget for $5-a-gallon gas prices as average rises
2 years, 10 months ago

Americans warned to budget for $5-a-gallon gas prices as average rises

Daily Mail  

Oil prices have rallied amid shipping and supply concerns spurred by Russia's invasion, with both U.S. crude and Brent at their highest points in over a decade The spike is unlikely to ease soon, according to oil analysts, as the conflict between Russia - one of the world's major oil producers - and Ukraine intensifies California currently sports the highest …

Gasoline prices are soaring. OPEC and Russia aren’t coming to the rescue
3 years, 2 months ago

Gasoline prices are soaring. OPEC and Russia aren’t coming to the rescue

CNN  

London CNN Business — OPEC and its allies have disregarded calls from US President Joe Biden to do more to tame soaring energy prices that are fueling inflation and hurting vulnerable households. “Now is the time for major country producers to stabilize energy prices and ensure high prices do not hamstring the current global economic recovery.” The price of Brent …

Gas prices could fall below $2 for many Americans
5 years, 6 months ago

Gas prices could fall below $2 for many Americans

CNN  

New York CNN Business — Here’s some good news for drivers in the United States: Gasoline could fall below $2 a gallon for many Americans later this year. “Pretty much every portion of the country should see drops between now and the end of next week,” said Tom Kloza, head of energy analysis for the Oil Price Information Service. “There’s …

$4 gas is nearly a reality for many Americans
5 years, 9 months ago

$4 gas is nearly a reality for many Americans

CNN  

New York CNN Business — US gasoline prices are becoming a real pain for motorists, particularly in the west. Unplanned refinery maintenance at several locations is responsible for the sudden, and uneven, increases across the nation, said Tom Kloza, head of energy analysis for the Oil Price Information Service. But most of the country could start to see some relief …

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