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Monday, feb 17
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Monday, feb 17
Tag:
Gas Prices
Business
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…
Business
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…
News
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…
Lifestyle
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 …
News
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…