Secretary of Energy Jennifer Granholm said that gas prices for this summer are “going to be rough” as Thursday’s data shows the average price for a gallon is nearing $5. “Yeah, this summer is going to be rough,” she said in response to a CBS News statement about whether she has any statements to reassure…
Gas Prices Hit All-Time Record as a Dozen States Reach $5 per Gallon
The nationwide price of gas on Tuesday soared to a tenth daily consecutive record high of $4.91 per gallon on average as AAA data suggests that 13 states have hit $5 per gallon or more. According to data posted by the automotive group AAA, the average price has risen to $4.919 per gallon of regular gasoline as…
White House Expected to Bring Back Price Controls; Mexican President Boycotts Americas Summit | NTD News Today
The White House is telling Americans that sky rocketing gas prices are a “global challenge.” This, as President Biden’s team and Democratic lawmakers are expected to bring back price controls. What do economists say? Mexico’s President is boycotting the US-hosted Summit of the Americas. Find out why he is declining to attend. Michigan’s Supreme Court…
Soaring Oil Prices: An Unnecessary Hit to a Vulnerable Economy
Commentary Soaring oil prices are not only a serious threat to travelers, crazy high fuel prices seriously disrupt businesses, the economy. They even promote wars. There are a number of reasons for the current surge in oil prices. The Federal Reserve’s monetary policy is primarily responsible for the overall rise in all prices. Without the…
Germany Faces 5 Billion Euros a Year Hit From Russian Gas Sanctions: Newspaper
June 6, 2022
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BERLIN—Russia’s sanctions against Gazprom Germania and its subsidiaries could cost German taxpayers and gas users an extra 5 billion euros ($5.4 billion) a year to pay for replacement gas, the Welt am Sonntag weekly reported, citing industry representatives. In May, Russia decided to stop supplying Gazprom Germania, which had been the German subsidiary of Gazprom,…
Gas Prices Continue to Surge Higher in Canada, With More Increases Expected Next Week
Gasoline prices continued to trend upward across much of Canada over the weekend and experts warn more increases are coming this week. National average gas prices rose to about $2.06 on Sunday, up almost three cents from the day before and 11 cents higher compared with a week ago, according to the Canadian Automobile Association….
US Gas Prices Have Doubled Since Biden Took Office: AAA
The average price for a gallon of regular gasoline has more than doubled since President Joe Biden took over, according to data released this weekend. When Biden took office on Jan. 20, 2021, the average price for a gallon of gasoline stood at $2.39. But as of Sunday, the price increased to about $4.85 per…
US Gas Prices Have Doubled Since Biden Took Office: AAA Data
The average U.S. price for a gallon of regular gasoline has more than doubled since President Joe Biden took over, based on data released this weekend. When Biden took office on Jan. 20, 2021, the average price for a gallon of regular-grade gasoline stood at $2.39. But as of June 5, the price increased to…
Gazprom Cuts Gas Supply to Orsted and Shell Energy
June 1, 2022
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Russian gas producer Gazprom has cut off gas supplies to Denmark’s Orsted and to Shell Energy for its contract to supply gas to Germany, it said on Wednesday, citing the companies’ failure to make payments in rubles. Gazprom has already halted supplies to Dutch gas trader GasTerra, as well as to Bulgaria, Poland, and Finland…
Gas Prices Hit Record High After EU’s Partial Ban on Russian Oil Imports
Gasoline prices hit a new record on May 31 after the European Union agreed to a partial ban on Russian oil imports by the end of 2022 as part of the sixth package of sanctions against Russia over its invasion of Ukraine. In the United States, prices at the pump rose to a national average of $4.622 per…
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