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Pump prices have topped $3 a gallon in nine states as of Wednesday morning. That is likely to be only the beginning of a summer driving season punctuated with more price hikes.
U.S. gasoline prices will reach nearly $3 a gallon in June and average $2.90 a gallon for the whole year according to the latest Energy Information Administration Short-Term Energy Outlook.
Gasoline pump prices dipped a little last week but the threat of a renewal of U.S. sanctions on Iran could send prices sharply higher quickly.
Oil above $70 affects the price of gas, oil and petrochemical products, making a rapid rise a challenge to an American economy, which is growing less than 2.5%.
Retail gasoline prices now exceed $2.50 a gallon for regular gas in all 50 states. Californians are paying almost $3.62 a gallon while Oklahomans are paying $2.50.
Apple may bid for publisher Conde Nast, gasoline prices surge, Boeing buys a plane parts company, and other important headlines.
For the second consecutive week, retail gasoline prices rose by five cents a gallon and the national average price of a gallon of regular gas rose to $2.81 as of Monday morning.
The price of a gallon of regular gasoline has risen above $3.50 in every major city in California. It is a harbinger of things to come for the rest of the nation.
The U.S. national average price for a gallon of regular gas rose by a nickel last week and is on track to post a multi-year high even before the summer driving season really gets underway.
The idea that oil might reach $80 a barrel was almost out of the question a few months ago. That has changed fairly fast.
At a Congressional hearing earlier this month, auto and petroleum industry presented a case for mandating higher octane -- and likely more expensive -- gasoline.
Gasoline prices are again headed toward $3 a gallon. In several states, the cost of an average gallon of regular is already above that level.
The national average price for a gallon of regular gas rose by six cents last week to a level last seen in July 2015.
As gasoline prices move to a level not posted in three years and continue to rise, the price of an average gallon of regular is above $3 in six states and close to that in three others.
Gasoline pump prices have jumped by three cents a gallon just since Monday, according to GasBuddy. Lower inventory levels brought on by OPEC production cuts and increased geopolitical tensions get...