Latest news with #gasprices
Fox News
2 days ago
- Business
- Fox News
Energy Secretary Chris Wright shares biggest successes and challenges of first six months
Energy Secretary Chris Wright discusses renewable energy demands, gas prices and artificial intelligence needs on 'Special Report.'
Yahoo
14-07-2025
- Business
- Yahoo
Gas Stations Quietly Charging Drivers $1 More per Gallon for This 1 Reason
Paying at the pump with a credit card is a daily habit for most drivers, and a convenience that can cost more than you think. Across several states, including Florida, gas stations are increasingly charging higher prices per gallon for credit card users. The difference is often as much as $1 more per gallon compared to the cash price, a markup that can quietly add up on a full tank. While it's legal for businesses to charge extra for credit card transactions, most states require that these fees be clearly disclosed to customers. Some gas stations are skirting that line by posting notices in fine print on the pump or signage that drivers may not easily notice. The result? Many drivers swipe their cards expecting the advertised street price, only to find out after the fact that they've been charged significantly more. With gas prices already pushing budgets, an extra $10 or $20 per fill-up can make a real impact. Consumer watchdogs point out that while the surcharge itself may be legal, the lack of upfront transparency could border on deceptive business practices. And as long as stations get away with it, the hidden fee trend may continue to grow. The best way to avoid surprise charges is to pay close attention to posted pricing at the pump and read the fine print before fueling. Some stations make their cash-versus-credit prices obvious, while others bury the details in pump stickers or small signs. Apps and rewards programs can also help soften the blow. Ultimately, small habits—like checking for price differences or choosing stations that don't penalize credit card users—can save hundreds over the course of a year. With gas expenses averaging over $2,400 per driver annually, every dollar Stations Quietly Charging Drivers $1 More per Gallon for This 1 Reason first appeared on Men's Journal on Jul 13, 2025
The Independent
09-07-2025
- Automotive
- The Independent
Trump keeps claiming places are selling gas for $1.99. There is no proof to back that up
President Donald Trump has been gassing up low gasoline prices, repeatedly asserting that they're as low as $1.99, but there's little proof to support his claims. 'There's two states, three states that were selling gasoline at $1.99. You haven't seen that for a long time,' the president said at a press conference on Wednesday. It's not immediately clear which states he was referring to as nowhere seemed to have such low prices. The Independent has reached out to the White House for comment. Mississippi currently boasts the lowest gas prices in the country with an average of $2.69 per gallon. In the city of Gulfport, gas goes for $2.35, according to GasBuddy, a firm that tracks gas prices across the country. Oklahoma, Louisiana, and Alabama also have an average under $2.80, as of Wednesday, GasBuddy found. Gas is going for $2.31 a gallon at one station in Fort McLellan, Alabama, GasBuddy found. The national average was $3.16 a gallon as of Wednesday afternoon, according to AAA. While those prices are low, it's still a far cry from the $1.99 that Trump has been touting. Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN that the last time he's seen states with average prices below $2 per gallon was in January 2021, following the Covid-19 pandemic, when people were driving less. Trump made similar remarks last week, when he declared: 'We have no inflation.' He then claimed multiple states boasted gas prices under $2: 'The gasoline just hit $1.99 today in 5 states.' In May, the president once again claimed gas prices were under $2 in some places. 'Gasoline just broke $1.98 a Gallon, lowest in years,' he wrote on Truth Social. One day before his social media post, RBOB Gasoline futures hit $1.98 per gallon, CNBC reported, perhaps explaining why Trump has been relying on that figure. Gas prices have fallen in recent weeks. The nation's average price of gasoline has declined for the second week in a row, according to GasBuddy data compiled from more than 12 million individual price reports covering more than 150,000 gas stations across the country. 'Nearly every state saw average gas prices decline for the second straight week, even as the nation celebrated July 4 with the lowest national average for Independence Day since 2020,' De Haan said in a statement.
Yahoo
09-07-2025
- Business
- Yahoo
Crude Prices Climb on Energy Demand Optimism and Middle East Tensions
August WTI crude oil (CLQ25) Monday closed up +0.93 (+1.39%), and August RBOB gasoline (RBQ25) closed up +0.0336 (+1.59%). Oil prices recovered from early losses on Monday and rallied to 2-week highs after Saudi Arabia raised prices for its main crude grade for buyers in Asia next month by more than expected. Crude prices added to their gains on elevated tensions in the Middle East after Houthi rebels attacked a ship sailing through the Red Sea, which could attract retaliatory US military strikes on the Houthi rebels. Crude prices initially moved lower Monday due to a stronger dollar and after OPEC+ raised its crude production level more than expected on Sunday. Energy Demand Optimism and Houthi Rebel Attacks on Red Sea Shipping Boost Crude Prices Nat-Gas Prices Recover as Hotter Temps Forecast for the Central US Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Supporting crude oil prices are signs of stronger crude demand, as evidenced by Saudi Arabia's state-owned producer Aramco raising prices for its Arab Light crude for buyers in Asia next month by $1 a barrel, above expectations of a 65-cent-a-barrel increase. Heightened tensions in the Middle East are supportive for crude prices after Yemen's Houthi rebels claimed responsibility for an attack on a ship sailing through the Red Sea on Sunday, their first strike on merchant shipping this year. Concern about a global oil glut is negative for crude prices. On Sunday, OPEC+ agreed to raise its crude production by 548,000 barrels per day (bpd) beginning August 1, exceeding expectations of a 411,000 bpd increase. Saudi Arabia also stated that additional similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and penalize overproducing OPEC+ members, such as Kazakhstan and Iraq. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. On May 31, OPEC+ agreed to a 411,000 bpd increase in crude production for July, following the same 411,000 bpd hike for June. June crude production rose +360,000 bpd to a 1.5-year high of 28.10 million bpd. Oil prices continue to be undercut by tariff concerns ahead of the July 9 deadline when President Trump says he will implement reciprocal tariffs on imports from any countries that haven't yet reached a trade deal with the Trump administration. An increase in crude oil held worldwide on tankers is bearish for oil prices. Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days rose by +3.6% w/w to 79.55 million bbl in the week ended July 4. Last Wednesday's EIA report showed that (1) US crude oil inventories as of June 27 were -9.3% below the seasonal 5-year average, (2) gasoline inventories were -0.7% below the seasonal 5-year average, and (3) distillate inventories were -21.0% below the 5-year seasonal average. US crude oil production in the week ending June 27 was unchanged w/w at 13.433 million bpd, modestly below the record high of 13.631 million bpd from the week of December 6. Baker Hughes reported last Thursday that active US oil rigs in the week ending July 4 fell by -7 to a 3.75-year low of 425 rigs. Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.25-year high of 627 rigs reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
E&E News
09-07-2025
- Business
- E&E News
Exxon, Shell see financial hits from oil price swings
Officials with Exxon Mobil and Shell warned investors Monday that volatile oil and gas prices will weigh on their second-quarter earnings results. Texas-based Exxon said oil price changes reduced profits by an estimated $1 billion compared with the first quarter, while gas price swings were a drag of roughly $500 million. London-based Shell, meanwhile, said earnings from its trading arm are expected to be 'significantly lower' in the second quarter of 2025 than in the first quarter. In a statement to POLITICO's E&E News, Shell spokesperson Natalie Gunnell attributed the drop in earnings to fluctuations in oil and gas prices. Advertisement Energy market changes in the quarter were 'driven by global geopolitical volatility rather than traditional supply-and-demand disruptions,' Gunnell said in an email.
