A bill aimed at lowering gas prices by allowing more types of gasoline to be sold in Arizona passed the Arizona State Senate on Thursday.
In Maricopa County, environmental regulations allow for only two blends of gas to be sold to consumers, one winter blend and one summer blend, referred to as Cleaner Burning Gasoline, according to a news release.
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We’ve paid much attention to President Biden’s flagging job approval here, in part because it tends to be a strong predictor of how an election will turn out. Biden is marching into this election season as likely the least popular president to face the voters since Herbert Hoover. While he may yet be saved by the fact that he is facing off against Donald Trump, who brings his own baggage to the table, it’s an ominous indicator.
At the same time, the economy is running hot. Growth is over 3%, unemployment is under 4%, and inflation has fallen from its peak. So why the seeming paradox of an unpopular president in a time of strong economic growth, especially when the strength of the economy is itself a traditional predictor of presidential job approval?
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The Federal Reserve on Dec. 13 held the Federal Funds Rate—the rate at which banks lend to each other—steady at 5.25 percent to 5.5 percent, as the consumer inflation once again cooled to 12-month average level of 3.1 percent, according to the latest data compiled by the Bureau of Labor Statistics.
Leading the cooldown were drops in energy prices as gasoline dropped 6 percent in November, following a 5 percent drop in October.
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by Kevin Killough In the past few years, America has seen high inflation rates and a faltering economy that some observers say will go into a recession. The latest conflict in the Middle East could likely pose a significant disruption in global energy supplies. Where the GOP contenders stand on energy policies will likely weigh heavily on voters’ decisions in 2024. Just The News highlights the key points the top Republican candidates have made with regard to energy policy during their campaigns. Donald Trump When former President Donald Trump, the current leader in the 2024 presidential race, sat down with Association of Mature American Citizens’ (AMAC) Rebecca Weber and Just The News’ John Solomon, he said that at the end of his term in 2020, America was energy independent. “We didn’t need anybody’s energy. We didn’t have to give them arms or armies. We didn’t have to guard anybody. We didn’t have to keep the Gulf open. We were totally set,” Trump said. In another six months, Trump said, the U.S. would have been energy dominant, meaning it would be the largest producer and exporter of oil and gas in the world. Trump told Weber and Solomon that unleashing American oil is key to the country’s economic…
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On Wednesday, Republican presidential candidate Gov. Ron DeSantis announced his energy plan. It includes reversing all Biden administration policies to get gasoline prices at the pump back to $2 a gallon in 2025.
Gas prices and all other household goods reliant on petroleum have soared to over 40-year highs since President Biden implemented new energy policies in 2021. They include canceling the Keystone Pipeline on his first day in office, halting offshore and onshore lease sales, advancing EPA and other regulatory restrictions solely on U.S. oil and natural gas companies, halting investments in the industry by imposing environmental, social governance policies to restrict lending to U.S. oil and natural gas companies, among other policies.
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Average gas prices in Minnesota have jumped by more than 30 cents in a week, according to AAA data.
The current average price is $3.98 per gallon, up 36 cents from a week ago, the AAA data says. Average prices in the seven-county metro are over $4.
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Tennessee had the fourth-lowest average gas price in the country Friday at $3.38 per gallon, trailing just Mississippi ($3.27), Louisiana ($3.34) and Texas ($3.37).
Tennessee’s average price dropped 5 cents over the past week, more than 10 cents over the past two weeks but was 5 cents more than a year ago.
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A new report shows Ohioans have some of the highest gas price increases in the nation from 2022 to 2023.
Zutobi, an online drivers ed organization, analyzed fuel prices in every state and more than 170 countries to create its “Global Gas Prices Report” for 2023. The report shows the states with the cheapest and most expensive gas prices, along states that showed the most significant changes.
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U.S. Senator Joni Ernst says the Biden administration’s decision on year-round Ethanol-15 is long overdue — and six and a half months too late.
German-owned Politico reported on Wednesday that the Environmental Protection Agency will finally propose authorizing the year-round sale of gasoline blends containing 15 percent ethanol in Iowa and other Midwest states. But the rule would not take effect until 2024.
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The European Union (EU) announced Thursday that it will be outlawing the sale of gasoline and diesel-powered vehicles by 2035 even though EU countries are already struggling to fight soaring electricity costs.
EU member states and the European Commission agreed to force all new cars and vans registered in the EU to be electric by 2035, according to an EU press release. Europe is currently embroiled in an energy crisis and is preparing for blackouts as electricity prices remain more than seven times higher than they were in 2020, according to The Wall Street Journal.
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Diesel and regular gasoline prices hit a new all-time high Tuesday as they continue their rapid climb in recent weeks.
Diesel, up to $5.78 per gallon, has hit a new record almost every day this month.
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Ohio Republican Senate candidate J.D. Vance criticized the energy and fiscal policies of his Democratic opponent and of the White House on Wednesday, blaming them for the steep gasoline prices Buckeyes now endure.
The average price of a regular gallon of gas in Ohio exceeded $5.00 on Wednesday. That’s a 118.91-percent increase over the $2.32-per-gallon average cost state motorists faced when President Joe Biden took office. In Vance’s estimation, “no one else” bears responsibility for this other than Biden and his “extreme allies in Congress like Tim Ryan (D-13).”
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In what has become a seemingly every day occurrence, gas prices rose to a new record high Sunday as the national average approaches $5 a gallon.
Nine states already have surpassed the $5 threshold, and several others are just pennies away.
According to AAA, the average cost of a gallon of regular gasoline reached $4.85 Sunday, up an additional three cents from Saturday and 24 cents from last week.
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The average price of gasoline nationwide could reach $6 per gallon this summer, far above historic levels and near California’s current prices, an analyst at JPMorgan said Tuesday.
“U.S. gasoline prices to break above $6,” Natasha Kaneva, JPMorgan’s head of global oil and commodities research, wrote in a note to investors titled “Cruel Summer,” according to Bloomberg. “Typically, refiners produce more gasoline ahead of the summer road-trip season, building up inventories. But this year, since mid-April, U.S. gasoline inventories have fallen counter seasonally.”
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Newly released federal inflation data show that prices continue to rise at the fastest rate in four decades, continuing the trend of soaring inflation.
The Bureau of Labor Statistics released its Consumer Price Index, a key indicator of inflation, which showed prices rose an additional 1.2% in March, part of an 8.5 percent spike in the past 12 months.
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There are few more easily observable measures of the cost of everyday living than the price of gasoline at the pump. As has been widely reported, gas prices in the United States recently hit a seven-year high. The striking thing, however, is not just how high gas prices have gotten, but how fast and far they have risen.
Based on statistics from the U.S. Energy Information Administration—the statistical arm of the Department of Energy—weekly average retail prices for regular unleaded gasoline in the United States increased 94 percent in less than two years. Average gas prices rose from $1.77 per gallon during the week ending April 27, 2020, to $3.44 per gallon during the week ending February 7, 2022—nearly doubling in the process.
That was the largest percentage increase in gas prices within a two-year window since October of 2005, more than 16 years ago. In the election of 2006, Republicans—then the party in power—lost 30 House and six Senate seats, thereby losing control of both chambers, before losing the presidency two years later.
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The prices of energy, crude and gasoline all increased in 2021 from 2020, the U.S. Energy Information Agency reports. Prices increased because of higher demand and a range of other factors.
By the end of 2021, commodities on the energy index traded 59% higher than they did on the first trading day last year on the S&P Goldman Sachs Commodity Index (GSCI), the EIA reports.
GSCI is a commodity index that tracks the performance of global commodities markets. It’s a weighted average that’s updated every year. In 2021, the energy index comprised 54% of the GSCI, with the two crude oil benchmarks, the West Texas Intermediate (WTI) and Brent, accounting for approximately 70% of the energy index. WTI crude oil accounts for the largest share of the overall GSCI of more than 21%.
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The non-profit organization American Automobile Association (AAA) reported on Monday that Tennessee reached average gas prices above $3.00 per gallon. AAA data shows gas prices jumped 12 cents over the last week, leading to an average of $3.01 per gallon in the Volunteer State.
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The Bureau of Labor Statistics released data Tuesday showing a sharp increase in consumer prices, especially gasoline, as many Americans struggle to make ends meet.
March saw a 0.6% increase in consumer prices, the largest spike in nearly a decade. That increase can be attributed in large part to a rise in inflation.
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by Michael Bastach Democrats will introduce legislation to completely phase out the use of gasoline-powered cars by mandating that only zero-emissions vehicles can be sold by 2040. “When I take a lungful of air in this moment, it has 30 percent more carbon in it than when I was born,” Oregon Sen. Jeff Merkley, the bill’s main sponsor told The Huffington Post on Wednesday. “That is a change that has never happened in a single generation of humankind on this planet.” The bill is co-sponsored by Sens. Sheldon Whitehouse of Rhode Island, Brian Schatz of Hawaii, Kamala Harris of California, Kirsten Gillibrand of New York and Bernie Sanders of Vermont. California Rep. Mike Levin will introduce a House version of the bill, HuffPo reported. Harris, Gillibrand and Sanders are running for president in 2020, and all of them co-sponsored the Green New Deal resolution. However, no Democrat voted for the Green New Deal in March when it came up for a vote in the Senate. Merkley, who also supports the Green New Deal, sees this bill as part of that broad vision of completely greening the U.S. economy. The Green New Deal calls for achieving net-zero greenhouse gas emissions…
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President Donald Trump will allow year-round sales of renewable fuel with blends of 15 percent ethanol as part of an emerging deal to make changes to the federal ethanol mandate. Republican senators and the White House announced the deal Tuesday after a closed-door meeting, the latest in a series of White House sessions on ethanol. The Environmental Protection Agency currently bans the 15-percent blend, called E15, during the summer because of concerns that it contributes to smog on hot days. Gasoline typically contains 10 percent ethanol. Farm-state lawmakers have pushed for greater sales of the higher ethanol blend to boost demand for the corn-based fuel. Iowa Sen. Chuck Grassley called the agreement good news for farmers and drivers alike, saying it would increase ethanol production and consumer choice at the pump. Texas Sen. Ted Cruz said the deal will save the jobs of thousands of blue-collar workers at refineries in Texas, Pennsylvania and other states. “Terrific final decision from @POTUS meeting,” Cruz tweeted. “This is a WIN-WIN for everyone.” Terrific final decision from @POTUS meeting: E15, year-round plus RINs for all exports. This is a WIN-WIN for everyone. More corn will be sold (good for farmers), plus lower RINs (saves…
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By Printus LeBlanc On April 2, 2018, Environmental Protection Agency (EPA) Administrator Scott Pruitt EPA’s Administrator, Scott Pruitt, announced the completion of the Midterm Evaluation (MTE) process for greenhouse gas emission standards. Pruitt concluded the current standards for vehicles in 2022-2025 were unrealistic and needed to be revised. Of course, environmental radicals went crazy, refusing to care how many people might be hurt by government regulations. Thankfully President Trump and Administrator Pruitt are not scared of the big green radicals and have set a course of prosperity for the American people. The Obama administration didn’t even try to hide its hatred for the fossil fuel industry. The industry was attacked from every angle. It restricted oil drilling, imposed excess regulations on transportation of oil and gas, and raised Corporate Average Fuel Economy (CAFE) standards for the future to unrealistic levels. The increased CAFE standards were a direct attempt to social engineer the population. The administration didn’t like the fossil fuel industry, so it imposed regulations it believed would lead to the death of the light truck and SUV. When the Trump administration took over, one of its priorities was to ensure excessive regulations from the EPA were not putting people…
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