gasprices
Every month, Americans spend between $150 and $200 on gas. There are many factors that contribute to this, including the state, lifestyle, and driving habits. Gas still accounts for almost 2.24% of American families’ monthly income, or about $5,000 per year. However, those figures are higher. As of this writing, the price of oil hit over $93 a barrel — the highest price of the year. That means thatthe national average gas price is $3.875. Gas prices typically drop after Labor Day when driving season ends. Instead, Saudi Arabia and Russia’s aggressive supply cuts have boosted oil prices this ye...
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The start of summer is nearly here, and drivers are finding prices far lower than last year. Lackluster demand and low oil costs are keeping gas prices relatively stable. The national average for a gallon of gas remained stable since last week at $3.58, which is $1.43 less than a year ago. In New Jersey, the gas average is $3.47 today, down two cents in the last week and $1.57 lower than one year ago. According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 9.22 to 9.19 million b/d last week. Meanwhile, total domestic gasoline stocks in-creased...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. EV IronyTesla Inc (NASDAQ:TSLA)’s planned 8-day shutdown of its Shanghai plant is being extended due to rising Covid cases in China. The company now has sufficient inventory of its electric vehicles (EVs) and continues to offer discounts to try to sell its EVs amidst increasing competition in China. Furthermore, the U.S. tax incentives to buy an EV have expired for Tesla in 2022, so in the U.S., Tesla is offering $7,500 discounts on Model 3 and Y EVs, plus 10,000 miles of free charging during Decembe...
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In an effort to curtail rising gas prices, President Joe Biden is pushing Congress to implement a “gas tax holiday” where the federal gas tax would be temporarily suspended. The administration is facing increasing pressure from Americans as gas prices average over five dollars a gallon. In a conversation with reporters, Biden assured the country that efforts were underway to find additional ways to reduce costs. “I hope I have a decision based on the data I’m looking for by the end of the week,” Biden said. The move would require approval from Congress, but the outlook is still unclear for the...
uPolitics.com
Some federal help may finally be on the way. President Joe Biden, on Monday, suggested that he is considering sending federal stimulus checks to Americans to help them offset the rising gas prices. A point to note is that these stimulus checks wouldn’t come as a direct payment, nor in the form of a gas tax holiday, but instead, rebate cards. President Biden last approved federal stimulus checks in March of 2021. Biden Considering Federal Stimulus ChecksEarlier this week, President Biden suggested that he is seriously considering temporarily halting the federal gas tax. Biden said he would make...
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In a new op-ed in the Wall Street Journal, President Joe Biden outlined new policies to relieve the economic hardships of Americans caused by inflation. The President expressed the concerns facing many in America, including the rising cost of living and gas prices. Biden remarks on his administration’s successes in curbing the pandemic and healing a damaged economy in the op-ed. “In less than a year and a half, my administration’s economic and vaccination plans helped achieve the most robust recovery in modern history. The job market is the strongest since the post-World War II era, with 8.3...
uPolitics.com
Gas prices reached a new $4.37-a-gallon record on Tuesday, four cents above the previous high of $4.33 from March 11. The jump takes place amid increasing talk of an economic recession in the U.S. caused by the impact of inflation. Gas Prices Hit Fresh HighQ1 2022 hedge fund letters, conferences and more Russia’s invasion of Ukraine has nothing but skyrocketed oil prices, with the price at the pump soaring by 25% since the war started back in February. The U.S. Energy Information Administration said that adjusted-for-inflation real gas prices would have to climb over $5.08 per gallon to surpas...
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Gas prices. Am I right? Q1 2022 hedge fund letters, conferences and more What about the cost for diesel? That’s over $5 per galloon. And, yes. That’s also shattered records. Despite this, many of us still rely on our vehicles to commute to work or run errands. And, regardless of the record-breaking prices, road trips remain popular. Ways to Save Fuel and MoneyWhile there isn’t much of a silver lining here, there are still ways for you to conserve fuel so that you can save more and spend less. Looking for the best gas prices in the U.S. and Canada? By using the apps GasBuddy and Waze, you can g...
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Gas prices. Am I right? As of March 31, 2022 the average national price for a gallon of regular gasoline touched $4.25, according to AAA. As you your wallet infomed you you, this is some the highest prices ever. And, that’s not even taking inflation into account. What about the cost for diesel? That’s over $5 per galloon. And, yes. That’s also shattered records. Despite this, many of us still rely on our vehicles to commute to work or run errands. And, regardless of the record-breaking prices, road trips remain popular. Ways to Save Fuel and MoneyWhile there isn’t much of a silver lining here,...
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Natural gas prices in the U.S. have hit a record since 2008 on Monday as Russia’s invasion of Ukraine rages on and sends shockwaves within the energy market. The forecast of cooler spring temperatures adds up to the problem. Natural Gas PricesAs reported by CNBC, the price of natural gas has hit a 13-year record, up 102% amid growing inflation and concerns over an economic recession. Q1 2022 hedge fund letters, conferences and more The media outlet reports that “Futures jumped 10% to trade as high as $8.05 per million British thermal units, the highest since September 2008. The jump builds on ...
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