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Oil companies have been hampered by labor and capital costs and $70 a barrel may not be enough to lure them.
Biden authorized the release of crude from the Strategic Petroleum Reserve to boost supply and ease gas prices after Russia invaded Ukraine.
Fresh consumer price index data pretty much guarantees a big interest rate hike when the Federal Reserve meets next week.
Rising costs and slower-growing incomes cut small town households’ discretionary income by 38% in the last year, pressuring a way of life.
Rural Americans often travel longer distances or use diesel-based equipment, so they are disproportionately affected by fuel prices.
Fears about a possible recession, as well as still-high prices for food and rent, are making people more cautious in their spending.
Differences in state gas taxes are one factor, but proximity to a refinery and lifestyle play a role too.
Lower prices at the pump are offering some relief from other areas of inflation, like rent and food. But gas prices are a volatile indicator.
More people in the United States are working two full-time jobs than ever before, says Lauren Kaori Gurley of The Washington Post.
Why? It’s called the crack spread.
