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The Latest Breaking News from Gas Prices

EXPLAINER: How Biden's proposed gas tax holiday would work

Facing stubbornly high gas prices that average about $5 a gallon nationwide, President Joe Biden has urged Congress to suspend federal gasoline and diesel taxes for three months

The Independent UK

America's incoherent approach to dealing with high gas prices

The problem is supply and demand. Policy proposals don't address either.

Axios

California will investigate why it has the highest gas prices. Here’s what we already know

SACRAMENTO, Calif. — California Assembly Democrats are forming a select committee to investigate why the state’s $6-per-gallon gas prices are among the nation’s highest.

Tribune News Service

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Biden calls for three-month gas tax holiday as prices continue to rise

The federal gas tax funds highway maintenance and costs consumers 18 cents per gallon of gasoline and 24 cents per gallon of diesel fuel

The Independent UK

Energy authorities ignite ridicule over 'super' wood-burning stove

The Department of Alternative Energy Development and Efficiency’s promotion of “super” wood-burning stoves as a solution to high cooking gas prices has drawn ridicule on social media.

Bangkok Post

Biden to call for 3-month suspension of gas and diesel taxes

President Joe Biden is preparing to call on Congress to suspend the federal gasoline and diesel taxes for three months

The Independent UK

Gas prices are falling nationwide. Will California drivers see some relief?

The average national price of regular gas has slipped under $5, marking the first time the closely watched number has decreased in nine weeks, according to AAA.

Los Angeles Times

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Biden, Chevron chief trade sharp words over gas prices

In a pointed back and forth, the head of Chevron has complained that President Joe Biden has vilified energy firms at a time when gasoline prices are at near record levels and the president responded that the oil company CEO was being “mildly sensitive.”

The Independent UK

Four Texas Democrats in Congress warn Biden against restricting U.S. oil exports

It is the latest example of how Texas Democrats are on edge over the administration’s approach to high gas prices.

The Texas Tribune

How Washington can help lower gas prices and save your summer vacation

President Biden and Congress should embrace all the tools at our disposal to lessen the impact of skyrocketing fuel costs on American families. Our refining capacity should be increased by reopening existing plants.

Chicago Sun-Times

Is The Ford F-150 Lightning The Cheapest Truck To Drive Today?

With gas prices soaring, it may cost you less to own the F-150 Lightning electric truck than gas-powered rivals. This video compares fuel costs by powertrain.

InsideEVs

California lawmakers to investigate steep gas prices, accuse oil companies of 'ripping off' motorists

SACRAMENTO, Calif. — With steep gasoline prices still stinging Californians at the pump, Democratic Assembly Speaker Anthony Rendon on Monday announced a legislative inquiry to determine if oil companies are "ripping off" drivers.

Los Angeles Times

California Democrats to investigate cause of high gas prices

California lawmakers say they'll investigate why the state's gas prices are the highest in the U.S. Assembly Speaker Anthony Rendon announced a bipartisan committee on Monday to investigate gas price gouging

The Independent UK

Gas export tax would help to fix Australia's energy crisis, says Dr Ken Henry

Australia has blown its chance to use its vast gas fields to help the economy transition to renewable energy, says former Treasury secretary Ken Henry.

ABC News

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Asharq Al-Awsat

Europe May Shift Back to Coal as Russia Turns Down Gas Flows

Europe's biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled. Germany, Italy, Austria and the Netherlands have all signaled that coal-fired power…

The Independent UK

Brazil's Petrobras CEO resigns amid pressure over gas prices

The chief executive of Brazil’s state-run oil giant Petrobras resigned amid political pressure from top lawmakers and President Jair Bolsonaro

Axios

U.S. gas price average dips below $5 ahead of July 4th travel weekend

Gas prices are expected to rise as demand increases across the country.

WEKU

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

The drop doesn't signal a rapid descent to the low prices of 2021, but drivers could see modest decreases continue in the coming weeks, analysts say.

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Axios

U.S. gas tax holiday is "worth considering," Janet Yellen says

"Gas prices have risen a great deal and it's clearly burdening households."

The Independent UK

Energy bills: How can the UK government help reduce soaring gas and electricity?

Rishi Sunak under fire for not doing more to help households tackle climbing costs

The Independent UK

Why energy bills are increasing?

Squeeze on wholesale gas prices around the world driving up household bills

The Independent UK

Energy bills: How can the UK government help reduce soaring gas and electricity?

Rishi Sunak under fire for not doing more to help households tackle climbing costs

The Independent UK

Why energy bills are increasing?

Squeeze on wholesale gas prices around the world driving up household bills

StockNews.com

Forget Southwestern Energy, Buy These 3 Oil & Gas Stocks Instead

Oil and gas prices have remained elevated over the past few months due to the tighter supply caused by the ban on Russian oil and surging demand. However, Southwestern Energy (SWN) hasn’t been able to capitalize on the high oil prices because of its fundamental weakness. However, Occidental Petroleum (OXY),…

StockNews.com

4 Refining Stocks to Buy With Rising Gas Prices

Last week, the national gas average reached the $5.00 per gallon mark amid a tight supply due to the war in Ukraine. Given the rising gas prices, refining stocks Valero Energy (VLO), CVR Energy (CVI), HF Sinclair (DINO), and Exxon Mobil (XOM) might be ideal buys now. Read more below.

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