Tag:

Gasoline Prices

Arlington, VA
Business
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy Prices for a wide range of products increased in July, even as inflation held steady, with economists expecting President Donald Trump's tariffs to further raise costs for many Americans. The Consumer Price Index rose by 0.2% in July and reached a yearly rate of 2.7%, according to data released by the Bureau of Labor Statistics on Tuesday, Aug. 12. That was barely lower than the 2.8% annual inflation expected in the Dow Jones forecast, CNBC reported. Core inflation, which doesn't include the volatile food and energy categories, jumped by 0.3%, bringing the annual rate to 3.1%. That's the hi…

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by Chris Spiker
Saratoga Springs, NY
Business
Rise In Gas Prices Predicted Due To Israel-Iran Conflict: Here's What To Expect Rise In Gas Prices Predicted Due To Israel-Iran Conflict: Here's What To Expect
Rise In Gas Prices Predicted Due To Israel-Iran Conflict: Here's What To Expect Tensions in the Middle East are threatening to hit Americans at the pump. As the conflict between longtime Middle East adversaries Israel and Iran goes on, motorists in the US should expect to see gasoline prices rise in a matter of days, experts say. Patrick De Haan, head of petroleum analysis at GasBuddy, estimates that the average cost of a gallon of gasoline, currently at $3.13 nationally, according to AAA data, could increase by 10 to 25 cents, reflecting a hike of nearly eight percent.
 The extent of Iran’s retaliation, and whether oil continues to flow from the region without d…

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by Joe Lombardi
Ossining, NY
News
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Americans' concerns about rising unemployment are at their highest since the global financial crisis as President Donald Trump’s escalating tariffs and economic policies sink consumer confidence. Two-thirds of US consumers expect unemployment to increase over the next year, the University of Michigan's Surveys of Consumers said on Friday, Mar. 28. This marks the highest level of job market pessimism since 2009, reflecting widespread fears that economic uncertainty. Joanne Hsu, Michigan’s director of the surveys, said March's rising worries underscore mounting concerns across all d…

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by Chris Spiker
Potomac, MD
Business
Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say
Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect after President Trump signed an order late Saturday afternoon, Feb. 1. Canada and Mexico have been slapped with 25 percent tariffs. The rate for China, America's main economic rival, is 10 percent. Canada also has an adjusted 10 percent rate for energy products, include crude oil. Mexico and Canada account for about 70 percent of US crude oil imports. Now, many economists are warning that American consumers will be paying more for a host of staple i…

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by Joe Lombardi
Bridgeport, CT
News
Gas Prices Fall In CT: Here's How Much Gas Prices Fall In CT: Here's How Much
Gas Prices Fall In CT: Here's How Much Hey, you might have a few extra pennies in your pocket with the cost of gasoline falling a whole 6 cents last week in Connecticut. According to AAA Connecticut, the average for a gallon of self-service regular gas was $3.73. The national average fell by 12 cents to $3.68. “Drivers are seeing lower prices at the pump after a sharp drop in demand and a sizeable increase in gasoline inventories last week,” said Alec Slatky, managing director of Public and Government Affairs for AAA Northeast. “Oil prices spiked over the three-day weekend, but it’s too soon to gauge the impact of the war in Isr…

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by Kathy Reakes
White Plains, NY
Lifestyle
Gas Prices Hit New Record High In New York Amid Surge In Oil Costs Gas Prices Hit New Record High In New York Amid Surge In Oil Costs
Gas Prices Hit New Record High In New York Amid Surge In Oil Costs There is no relief in sight for motorists in New York as prices at the pump continue to rise to new record highs, according to AAA. As of Monday, May 16, AAA was reporting that the average price per gallon has risen to $4.76 in New York, setting another new record after peaking at $4.52 a week prior, the previous high. Diesel gas is also on the rise, up to $6.50 as of Sunday, May 15, also a new record in New York. According to AAA, there is not expected to be any relief for drivers with Memorial Day and the busy summer driving season fast approaching. “The high cost of oil, the key ingre…

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by Zak Failla
Fairfield, CT
Lifestyle
Gas Prices Hit New Record High In Connecticut Amid Surge In Oil Costs Gas Prices Hit New Record High In Connecticut Amid Surge In Oil Costs
Gas Prices Hit New Record High In Connecticut Amid Surge In Oil Costs There is no relief in sight for motorists in Connecticut as prices at the pump continue to rise to new record highs, according to AAA. As of Monday, May 16, AAA was reporting that the average price per gallon has risen to $4.54 in Connecticut, setting another new record after peaking at $4.32 a week prior. Diesel gas is also on the rise, up to $6.41 as of May 16, also a new record in the Nutmeg State. According to AAA, there is not expected to be any relief for drivers with Memorial Day and the busy summer driving season fast approaching. “The high cost of oil, the key ingredient in gaso…

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by Zak Failla
Jersey City, NJ
News
Biden Tapping US Petroleum Reserve To Relieve Pump Prices Biden Tapping US Petroleum Reserve To Relieve Pump Prices
Biden Tapping US Petroleum Reserve To Relieve Pump Prices US President Joe Biden will be tapping the country's petroleum reserves in an effort to save American drivers some cash. One million barrels of oil a day will be released for six months, totaling180 million barrels, from the Strategic Petroleum Reserve (SPR). The soaring gas prices are in part caused by the US ban on oil imports from Russia due to its Ukrainian invasion. The national average for a gallon of gas had fallen to $4.18 as of April 4. Gas price comparisonAAA “The upward push on oil prices caused by Russia’s war in Ukraine is meeting stronger downward pressure from the plann…

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by Cecilia Levine
White Plains, NY
Lifestyle
Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals
Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals Researchers have reported the findings of a new poll about the adjustments New Yorkers plan to make to their lifestyles in response to inflation. The Siena College Research Institute published the findings of an economic impact survey conducted in March. Researchers found that 26 percent of respondents said inflation is having a very negative effect on their personal finances, and 44 percent said it is having a somewhat negative effect. Eighty-seven percent of respondents reported that they are concerned about the cost of food in light of economic conditions and the war in Ukraine, and 80 …

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by Nicole Valinote
Middletown, NJ
News
Why Is Gas So Expensive? NJ Congressman Demands Answers From Oil Companies Why Is Gas So Expensive? NJ Congressman Demands Answers From Oil Companies
Why Is Gas So Expensive? NJ Congressman Demands Answers From Oil Companies Oil companies are placing profits ahead of the American people despite their overwhelming support of Ukrainians after the invasion by Russia, a US congressman says. Rep. Frank Pallone Jr., a New Jersey Democrat, accused oil companies of jacking up the cost of gas just when Americans are paying record prices at the pump. The chairman of the House Energy and Commerce Committee, in a letter to the largest oil and gas producers, said there are ample approved drilling spots to meet production needs. Pallone asked the executives of BP, Chevron, Devon Energy Corporation, ExxonMobil, Pioneer Natur…

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by Jon Craig
White Plains, NY
Politics
NY State Consumer Sentiment Up, New Siena Poll Shows NY State Consumer Sentiment Up, New Siena Poll Shows
NY State Consumer Sentiment Up, New Siena Poll Shows Are you ready to shop until you drop? Are you worrying less about finances?  What do state residents think about food and gasoline prices? According to a new Siena College Research Institute (SCRI) public opinion poll, consumer sentiment is up by more than four percentage points this year through September. That's the highest level measured in consumer confidence since March 2017, according to Siena. The new poll also found: Rising confidence numbers are driven by "iIncreasing future optimism." New Yorkers nearly match the rest of the nation with "strong expectations"…

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by Jon Craig
White Plains, NY
Lifestyle
New Yorkers Feeling More Confident About Spending Money, Poll Shows New Yorkers Feeling More Confident About Spending Money, Poll Shows
New Yorkers Feeling More Confident About Spending Money, Poll Shows A new poll by Siena College Research Institute discovered that New Yorkers are feeling more confident about spending money. The public-opinion survey from the second quarter of 2018 found that New York residents plan to buy motor vehicles, electronics and furniture more than they had in the previous three months. However, their spending plans dipped for home improvements. “For the 15th consecutive quarter, consumer sentiment across New York state is well above the optimism/pessimism breakeven point," said Douglas A. Lonnstrom, professor of statistics and finance and SCRI founding direc…

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by Jon Craig