September's inflation numbers were tied for the record since 2008, and were above consensus expectations yet again. With inflation being so severe and persistent, the messaging about inflation is about to change. First, it was…
Energy Expert Says Inflation Has Not Peaked, Expect…
Oil Associates President Andy Lipow argued that inflation has not yet peaked and that higher oil prices are expected following the European Union’s decision to ban the overwhelming majority of Russian imports. Lipow made the arguments…
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Record Setting Gas Prices Refuse to Hinder Memorial…
In what is expected to be a return to pre-pandemic travel volume, people are saying they want to travel this Memorial Day weekend despite record-high gas prices. Heading into the holiday weekend, gas prices are $1.50 higher than they…
Gage Skidmore from Surprise, AZ, United States of America via Wikimedia Commons
Report: Biden Admin. Mulling Tapping Federal Diesel Reserve…
The Biden administration is reportedly considering tapping the nation's federal diesel reserve to help alleviate the growing energy shortage. “The team has prepared emergency declarations for President authorize release from the Northeast Home Heating Oil…
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Households are Spending $5,000 a Year or More…
U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research. In March, the annual rate of gasoline spending was at $3,800, Yardeni…
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JPMorgan Predicts How Much Gas Will Cost This…
The average national retail price for a gallon of regular gasoline is projected to surpass $6 by the of summer, according to a recent JPMorgan research note. On Wednesday, the national average hit another record, reaching…
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Biden Unveils Historic Move to Combat High Gas…
The Biden administration will release 1 million barrels of oil each day for the next six months from the U.S. Strategic Petroleum reserve in an effort to combat soaring gasoline prices. Biden formally announced the move at…
Lawmakers Eye Gas Stimulus Checks Amid Climbing Prices
Lawmakers are proposing ways to provide some relief at the pump as record-high gas prices hit drivers in the wallet. It could come in the form of a stimulus check, similar to the pandemic relief program. Reps.…
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Maryland and Georgia Halt State Gas Tax
U.S. gas prices dropped by a penny overnight with the average cost of a gallon of gasoline now standing at $4.242 as lawmakers around the country attempt to ease the pain at the pump. The…
