A Few Clouds 36°
Tag:

Gas Prices

Business
Retail Spending Slips As Inflation Climbs In January, Adding To Economic Concerns Retail Spending Slips As Inflation Climbs In January, Adding To Economic Concerns
Retail Spending Slips As Inflation Climbs In January, Adding To Economic Concerns After a solid holiday season, US retail sales took a surprising step back to start 2025, snapping a streak of growth and fueling worries about the economy. Retail and food services sales fell 0.9 percent in January, according to Census Bureau data released on Friday, Feb. 14. The decline reversed the trend from December 2024's revised increase of 0.7 percent, signaling that consumers may be feeling the squeeze from rising prices. Economists had predicted only a slight decline, with Dow Jones estimating a 0.2 percent drop, NBC News reported. The sales totals were seasonally adjusted but…

SHARE

by Chris Spiker
Business
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…

SHARE

by Chris Spiker
News
Less Pain At The Pump: NJ Gas Prices Drop From Last Year Less Pain At The Pump: NJ Gas Prices Drop From Last Year
Less Pain At The Pump: NJ Gas Prices Drop From Last Year Filling up your gas tank in New Jersey is becoming a little easier to stomach. According to AAA, the average price for a gallon of gas in New Jersey is now $3.21 — a whole dollar per gallon cheaper than this time last year.  The AAA survey also found that gas in New Jersey is slightly cheaper than it was last week and last month. AAA said recession fears have caused oil prices to remain steady even though spring sees more motorists hitting the road. Garden State residents can brag about having gas prices cheaper than their neighbors. The average price of a gallon of gas in Connecticu…

SHARE

by Sam Barron
Lifestyle
Pain At The Pump: Gas Prices Spike To New Record High In New Jersey Pain At The Pump: Gas Prices Spike To New Record High In New Jersey
Pain At The Pump: Gas Prices Spike To New Record High In New Jersey Memorial Day travel and rising oil costs have caused the price of gas in New Jersey to rise to record levels with no relief in sight for motorists. On Wednesday, June 8, the cost of gas per gallon rose to an average of $5.03 statewide, the highest recorded price since AAA began tracking such figures, according to the organization. The price is up one cent overnight, 26 cents from a week ago, and 58 cents from a month ago as the demand for fuel has risen while tensions overseas have limited the available supply.  On June 8, 2021, motorists were paying an average of $3.06 per gallon in New …

SHARE

by Zak Failla
News
Russian Invasion Of Ukraine Means Higher NJ Gas Prices Russian Invasion Of Ukraine Means Higher NJ Gas Prices
Russian Invasion Of Ukraine Means Higher NJ Gas Prices “Pain at the pump,” was a concern reporters pushed President Biden on during a press conference about the Russian invasion of Ukraine on Thursday. Although Biden urged the energy sector to not move prices, experts say the US is already feeling the pinch since tensions began to escalate between the two nations. “Any disruptions to oil flows from Russia in a context of low spare capacity in other regions could easily send oil prices to $120 (a barrel),” Natasha Kaneva, JPMorgan’s head of global commodities strategy, wrote in a report published earlier in February. Gas prices had already t…

SHARE

by Jillian Pikora
Lifestyle
AAA: Memorial Day Weekend Gas Prices Will Be Highest They've Been In Years AAA: Memorial Day Weekend Gas Prices Will Be Highest They've Been In Years
AAA: Memorial Day Weekend Gas Prices Will Be Highest They've Been In Years With millions of Americans set to hit the road for the Memorial Day holiday, prices are peaking at the pump. Drivers are set to pay the highest prices in seven years, according to AAA, following a gas shortage that impacted the East Coast when the Colonial Pipeline was temporarily shut down due to a cyberattack. Nationally, the average price of gas as of Wednesday, May 26 hit $3.04 per gallon, down one cent from a week ago, but up from $2.89 a month ago. A year earlier, the average price was $1.96 per gallon. According to AAA, the national average has stabilized following the Colonial Pip…

SHARE

by Zak Failla
News
With No Place To Go, You Might As Well Fill Up: NJ, NY, CT Gas Prices Continue To Drop With No Place To Go, You Might As Well Fill Up: NJ, NY, CT Gas Prices Continue To Drop
With No Place To Go, You Might As Well Fill Up: NJ, NY, CT Gas Prices Continue To Drop At a time when gas prices usually rise – especially in New Jersey, New York and Connecticut -- they’ve begun a steep drop, as the coronavirus forces airlines to slash the number of daily flights and civilians to drive drastically less. On top of that, Russia and Saudi Arabia are increasing production in a price war that has experts predicting that gas may soon cost less than the crude oil that it’s made from. New Jersey’s average gas price fell eight cents a gallon from last week to an average Monday of $2.36 (from $2.44), AAA Northeast reported. That’s 12 cents cheaper than a month ago (…

SHARE

by Jerry DeMarco