Indiana governor eyes ‘inflationary relief,’ not gas tax cut
Indiana Gov. Eric Holcomb said Wednesday he was preparing a plan to potentially tap into the growing state budget surplus to help residents with the national inflation jump.
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House passes bill to crack down on gasoline ‘price gouging’
The focus on price gouging comes as gas prices hit an national average of $4.59 per gallon Thursday—49 cents a gallon higher than a month ago and $1.55 higher than a year ago, according to AAA.
Indiana Republicans show no signs of moving for gas-tax cut
Motorists in Indiana are now paying about 56 cents per gallon in state taxes on gasoline—the highest-ever level shown in state records—and the tax is set to increase next month based on rising fuel prices.
United States can’t make enough fuel—and there’s no fix in sight
In other kinds of markets, a surge of demand and shortage of supply would trigger more investment. But the longer-term transition away from fossil fuels dims the outlook for demand, making companies unwilling to put up the billions of dollars needed to build new refinery plants.
Biden cancels offshore oil lease sales in Gulf Coast, Alaska
The Biden administration says it is canceling three oil and gas lease sales, removing millions of acres from possible drilling as U.S. gas prices reach record highs.
Drivers bemoan high gasoline prices with no relief in sight
President Joe Biden released oil from the Strategic Petroleum Reserve in November and March, hoping to reduce prices. That helped temporarily, but prices shot back up and have stayed stubbornly high.
Average U.S. gasoline price jumps to near-record
The average price at the pump is $1.36 per gallon higher than it was one year ago.
Top Democrats push for federal crackdown on high gas prices
Citing growing worries about high gasoline prices, Democratic leaders announced an effort Thursday to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.
New vehicles must average 40 miles per gallon in 2026, up from 24 mpg
The new requirements increase gas mileage by 8% per year for model years 2024 and 2025 and 10% in the 2026 model year.
Average U.S. gasoline price rises 22% in two weeks, to record $4.43 per gallon
The average price of gasoline at the pump is $1.54 higher per gallon than it was a year ago.
Uber charging customers new fuel fee for rides, delivery
The surcharge will be in effect for at least 60 days, after which Uber said it will assess the situation.
Record gas prices are pushing up everyday costs, dampening economic recovery
Economists say the one-two punch of rising prices and the intensifying geopolitical crisis could put the brakes on the rapid rebound and raise the risks of recession.
Fuel-price hikes hitting shippers, truckers across U.S. economy
For trucking fleets—which move 70% of the U.S.’s freight tonnage—the sudden jump in prices is set to hurt smaller operators who have to cover the extra fuel cost on the spot and wait for surcharges to be reimbursed, American Trucking Association Chief Economist Bob Costello said.
Michigan Legislature starts voting to pause state gas tax
The average price for unleaded gas in Indiana’s neighboring state to the north has climbed to nearly $4.25 per gallon, up 62 cents in a week and 88 cents in a month, according to AAA Michigan.
U.S. banning Russian oil imports as Biden warns of ‘costs’
The average price for a gallon of gasoline in the U.S. hit a record $4.17 Tuesday, rising by 10 cents in one day, and up 55 cents since last week, according to auto club AAA.
U.S. gasoline prices rise again on talk of banning Russian oil
Oil prices soared early Monday before retreating. Benchmark U.S. crude surged to $130 a barrel overnight, then moderated to around $119, a 3% gain, in afternoon trading. The international price skyrocketed to $139 before falling back to about $123 a barrel.
Wall Street tumbles after oil prices touch $130 per barrel
Markets worldwide have swung wildly recently on worries about how high prices for oil, wheat and other commodities produced in the region will go because of Russia’s invasion, inflaming the world’s already high inflation.
Average U.S. gas price tops $4 per gallon, first time since 2008
During the first full week of Russia’s invasion of Ukraine, the price of regular gas rose by almost 41 cents, according to the AAA motor club.
Fuel prices spike amid Ukraine crisis, climbing near $5 a gallon in some markets
Americans are paying nearly a dollar more for a gallon of gas than they did last year as the growing threat of war in Ukraine moved oil prices higher.
White House, Dems eye pause of gas tax as prices soar, election looms
The early deliberations come days after a group of vulnerable Senate Democrats introduced a bill that would suspend the gas tax of roughly 18 cents per gallon for the rest of the year.