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Gas prices inch down as outlook appears stable

Jan 8, 2024
Gas is close to the $3 per gallon mark and has broken that in parts of the South.
In some parts of the South, gas prices are already below $3 a gallon. Above, a Chevron gas station in Austin, Texas.
Brandon Bell/Getty Images

Why gas prices are trending downward

Dec 14, 2023
Several factors are keeping prices at the pump low — including the greater number of EVs and hybrids on the road.
Gas inflation is down nearly 9% year-over-year. 
Brandon Bell/Getty Images

OPEC+ members say they'll cut oil production. Global markets don't seem to believe them.

Nov 30, 2023
Production cuts may no longer be as effective at propping up prices because electric vehicles are cutting into global demand.
OPEC+ members are promising a pullback of as much as 2 million barrels a day, at least half of that from the Saudis.
Joe Klamar/AFP via Getty Images

Why are oil prices suddenly dropping?

Oct 6, 2023
Since the end of September, Brent Crude has been sliding — down to the $84-a-barrel range, more than a 10% decline in just over a week. This is also playing out at the pump, with gas down about eight cents a gallon in the last week.
Along with oil prices, the average price of gas in the U.S. has fallen in the last week. Above, a gas station in Los Angeles, California.
Patrick T. Fallon/AFP via Getty Images

High oil prices may hurt poorest Americans most

Sep 27, 2023
Tight global supply raises costs for industry and motorists, but for now, the pain is milder than it was during price spikes decades earlier.
Gasoline prices in Burbank, California, last week.
Mario Tama/Getty Images

Uptick in gas prices could threaten consumers' confidence

Aug 10, 2023
Inflation at the pump is in the pipeline for August. It would likely show up right before the Fed’s September interest rate meeting.
The recent uptick in gas prices can largely be attributed to intense heat in oil refining areas.
Brandon Bell/Getty Images

Oil refiners have added capacity. That should reduce the risk of sticker shock at the gas pump.

Jun 29, 2023
Last year's price spike was largely the result of a shortage of refining capacity.
Capacity at oil refineries seems to be going up.
Patrick T. Fallon/AFP via Getty Images

For public good, not for profit.

Saudis cut oil production — but that might not lead to higher gas prices

Jun 5, 2023
Cutting production usually leads to an increase in prices. Here's why that might not be the case this time.
Stefani Reynolds/AFP via Getty Images

Next car may be electric, about 4 in 10 people say in poll

Apr 11, 2023
Saving money on gas is the main reason they would buy an EV, according to experts. But cost is still a deterrent.
New battery requirements could prevent some EVs from qualifying for the full tax credit offered by the federal government, says Leah Stokes at UC Santa Barbara.
Saul Loeb/AFP via Getty Images

California bill could penalize oil companies for price gouging

Mar 28, 2023
The law aims for transparency in a state known for high gasoline prices.
Prices at a San Bruno, California, gas station in October. Prices in the state are lower today but remain higher than in other states.
Justin Sullivan/Getty Images