The International Monetary Fund warned the United States that government spending and increasing national debt are not sustainable and could hurt the global economy.
The Washington, D.C.-based group that represents 190 member countries also called the U.S. economy “overheated.” The debt warning follows several other high-profile calls to address growing U.S. debt.
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The national average cost of a gallon of gas at the pump jumped by 20 cents over the past month, according to AAA.
Currently, Americans are paying about $3.55 per gallon on average, up from about $3.35 a month ago, according to AAA’s data. Goldman Sachs, one of the largest financial institutions in the U.S., has recently cautioned that prices could surge above $4 per gallon by May, according to Yahoo Finance.
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The Tennessee Department of Transportation (TDOT) will halt interstate construction beginning Thursday as travelers head to their Easter destinations.
“TDOT crews and contractors will stop all road construction work that requires lane closures beginning Thursday, March 28, at 6:00 p.m. through Monday, April 1 at 6:00 a.m.,” a release from the department says. “This will provide maximum roadway capacity to motorists expected to travel across the state this upcoming holiday weekend.”
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After a short reprieve gas prices in Tennessee are once again on the rise, defying traditional patterns.
Monday’s average gas price per gallon in the Volunteer State was $3.09 per gallon, up from $3.07 a week ago, according to the American Automobile Association (AAA).
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AAA’s latest autonomous vehicle survey shows most U.S. drivers express either fear (66%) or uncertainty (25%) about fully-self-driving vehicles.
However, semi-autonomous technologies such as reverse automatic emergency braking and lane keeping assistance continue to drive consumer interest.
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The Tennessee Department of Transportation (TDOT) announced Monday that Thanksgiving travelers would not be delayed by construction on Tennessee roads during this year’s holiday.
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Diesel fuel prices continue to rise, hiking the cost of transporting goods to market as American consumers pay the price.
According to the latest data from AAA, the current national average price for a gallon of diesel is $4.56, up from $4.53 a week ago and $4.35 a month ago. As those prices rise, the costs are passed on to consumers.
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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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According to the American Automobile Association (AAA), gas prices across the Volunteer State have risen sharply over the past month.
As of Tuesday, the average price for a gallon of gasoline statewide is $3.43, AAA’s website says.
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Last week, gas prices reached an 8-month high in the U.S. at $3.714 per gallon, following a high volume of production cuts from OPEC. That number has since increased, which an analyst pinned directly on the ongoing heat wave taking place throughout the country.
On Monday, gas averaged $3.757 per gallon, up more than 16 cents from a week ago, according to AAA. Patrick De Haan, the lead petroleum analyst at the fuel savings site GasBuddy, explained how the heat wave contributed to this uptick.
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The Tennessee Department of Transportation (TDOT) announced Monday that Independence Day travelers would not be delayed by construction on Tennessee roads during this year’s holiday.
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Gas prices continue to rise this week in the U.S., hitting the highest level in months.
Now, the concerns and political ramifications for the Biden administration are starting to rise as well.
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The average gas price in Tennessee continues to be lower than the national average, according to data from the American Automobile Association (AAA).
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Tennessee’s gas prices are once again on the rise after Saudi Arabia and its allies in the Organization of the Petroleum Exporting Countries (OPEC) announced that it would cut oil output by two million barrels per day.
Monday, a gallon of gas in the Volunteer State averaged $3.39, up from last Monday’s average of $3.19, according to the American Automobile Association (AAA).
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Despite a slight uptick in the past day, gas prices in Tennessee are still lower than they were a month ago.
According to data from AAA, the average price per gallon was $3.193 per gallon, up slightly from the day before, which was $3.186. That’s still 7.42% cheaper than the average price in the Volunteer State was a month earlier at $3.449 per gallon.
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Following nearly 100 days of declines, gas prices rose slightly Wednesday, and are forecasted to change little in the near future.
The national average price rose by about a cent to $3.68, snapping a 98-day streak of declines since prices peaked at $5.02 in mid-June, according to data from the American Automobile Association (AAA). A slight increase was expected to occur soon after prices fell only four cents last week, the smallest decrease in months, which the AAA attributed to the impacts of “war, COVID, economic recession, and hurricane season,” in a statement Monday.
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Gas prices have continued a steady decline in recent weeks, coming down from record-high gas prices this summer, but the Congressional Budget Office says natural gas prices may see an increase from the recently passed Inflation Reduction Act.
According to AAA, the current national average price for a gallon of regular gasoline is $3.78, down from $4.08 a month ago and down significantly from earlier this summer when prices surpassed $5 per gallon. Prices have dropped about a nickel in the past week.
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As global and national gasoline prices continue to trend downward, the average cost for a gallon of gas in Virginia has fallen below $4.
As of Aug. 2, the average gallon of gas costs about $3.97, according to numbers provided by AAA. For a gallon of diesel, the average cost is dipping closer to $5 per gallon, but still sits at about $5.16. This is much lower than gas prices one month ago, which were about $4.63 for a gallon of regular gas and more than $5.70 for diesel.
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Governor Brian Kemp (R) signed two executive orders on Wednesday that extended the gas tax suspension and renewed the state of emergency for supply chain disruptions. These executive orders will be effective through September 12th.
“I have extended the temporary suspension of the state’s motor fuel tax to alleviate the financial burden placed on Georgians due to the federal government’s gross mishandling of inflation,” Gov. Kemp said.
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Tennessee motorists have seen slight relief at the pump over the past week, matching national averages.
The average price of a gallon of gas in Tennessee was $4.39 Tuesday, according to the American Automobile Association (AAA).
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Over the past week, Tennesseans have seen a slight dip in prices at the pump after those prices reached record highs in the state and across the nation.
According to the American Automobile Association (AAA), the average price for a gallon of gas in Tennessee was $4.58 on Tuesday. That’s a one penny drop from Monday’s average of $4.59.
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The average price for a gallon of gas nationwide has reached the the $5 threshold, according to Thursday reports.
“According to GasBuddy, the national average has reached $5 per gallon,” said GasBuddy’s Patrick De Haan.
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Georgia’s record-high gas prices are lowest nationwide, according to the American Automobile Association (AAA).
The average price for a gallon of gasoline in Georgia Monday was $4.29, matching a record high set on March 11. That figure is the lowest in the nation, as the average price for a gallon of gas in the United States Monday was $4.86.
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Wisconsin gas prices set another record high.
The average prices of a gallon of regular gasoline rose to $4.68 a gallon Friday. That’s up 8 cents from the $4.60 average on Thursday. A week ago, the average price was $4.35. A month ago, it was $3.96.
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Gas prices reached another all-time high in Tennessee Friday, and according to the American Automobile Association (AAA), they are only expected to continue rising. “While drivers might have seen a small break in pump price increases this holiday weekend, we could be looking at the calm before the storm for gas prices,” Megan Cooper, a spokeswoman for AAA, reportedly said. The average price for a gallon of gas in Tennessee was $4.39 on Friday, the highest ever recorded in the state. That price jump represents a 12-cent increase over the past week alone, and a 48-cent jump over the past month. A year ago, the average cost of a gallon of gas was $2.88. Nashville has been hit the hardest, where on Friday, the average cost of a gallon of gas was $4.44, five cents higher than the state’s average. Clarksville clocked in at $4.43 per gallon on average, just behind the state’s capital city. “A dip in gasoline demand provided drivers with a bit of stability at the pump, as the national average for a gallon rose less than three cents over the past week to reach $4.62. But this respite could be brief,” AAA said in a news…
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Gas prices hit another record high Tuesday, the latest in more than a dozen record high days this month.
Gas prices had hit record highs every day for two weeks during May before dipping down slightly. Now, with two consecutive record days, another run of record highs may be on the way.
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Georgia’s governor Thursday extended the state’s gas tax holiday amid record-high prices at the pump.
“While President Biden continues to enforce an out-of-touch agenda with damaging effects, we’re responding to record-high inflation and addressing supply chain issues by empowering Georgians to keep their money in their own pockets and keep goods flowing,” Gov. Brian Kemp said on Twitter.
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Gas prices have soared to new heights this month with the price of unleaded regular gas hitting a record high every day for the past two weeks. With Memorial Day weekend approaching, motorists face steep costs if they plan to travel.
According to AAA, the national average regular unleaded gas price Tuesday came in at $4.60, a record high. Diesel gasoline is at $5.55 per gallon, just below the record set last week.
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Phoenix residents are feeling the effects of the highest gasoline prices in American history, as Tuesday marked the first day that the city’s average price for a gallon per gas was $5.
According to the American Automobile Association (AAA), the average price per gallon of gas in Phoenix Tuesday was exactly $5, an 11 cent jump from Monday’s average of $4.89, and a 28 cent jump from last Tuesday’s average of $4.72. A month ago, the average price of a gallon of gas in the city was $4.56.
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According to AAA-The Auto Club Group, the Florida average price for gasoline reached a new record high of $4.49 per gallon on Sunday.
The latest price beats the previous record of $4.38 per gallon set back in March soon after Russia invaded Ukraine. Before this year, the record high was $4.08 per gallon, which was set back in 2008.
Florida’s average price jumped about 30 cents in the past week. The state average is now $1.60 per gallon more than a year ago. It now costs $67 for a full 15-gallon tank of gas. That’s $24 more than what drivers paid this time last year.
Based on the gasolinemiserindex.com website, Florida consumers are paying $889 more annually on gasoline when compared to spending last year. The is approximately 21% higher than the $735 the average American family is spending this year.
“Drivers are dealing with unprecedented pain at the pump and things could soon get worse before they get better,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “We saw more big gains in the gasoline futures market late last week, which could trickle down to yet another 10-20 cent jump at the pump in the near future.”
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Gas prices in Tennessee have once again hit all-time highs, as the Biden administration struggles to control rising prices at the pump and elsewhere.
According to the American Automobile Association (AAA), the average price per gallon of gas in Tennessee reached $4.12, the highest ever recorded Tuesday. A year ago, a gallon of gas in the state averaged $2.71.
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Gas prices in Ohio are inching toward record highs, dramatically impacting residents of the state.
According to the latest numbers from the American Automobile Association, the average price of gas in the state is $4.092 per gallon. The current record in the state is $4.159, which was achieved in 2011.
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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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Nearly a month after the Russian invasion of Ukraine, for which Democrats blame skyrocketing gas prices nationwide, gas in Ohio remains at more than $4.00 per gallon on average.
According to the American Automobile Association (AAA), the average price for a gallon of gas in Ohio has climbed three cents in the past week, from $4.01 per gallon to $4.04 per gallon. That’s only about 10 cents less than the state’s record high of $4.15 per gallon, recording in May of 2015.
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As gas prices near record highs in Connecticut, the state’s Attorney General is warning gas distributors against price gouging.
“Gas prices fluctuate constantly, and price changes and price increases are normal. But what we have seen this past week is not typical, and we can expect even more volatility due to the unprovoked and unconscionable Russian invasion of Ukraine,” Attorney General William Tong (D) said in a Monday statement.
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According to the American Automobile Association (AAA), gas prices in Tennessee – and in other states around the country – have increased by a stunning amount in the past month alone.
In Tennessee, the number is 54 cents per gallon.
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Gas prices continue to rise throughout Connecticut, inflicting pain on residents throughout the state
According to data compiled by AAA, the state’s prices are above the national average, sitting at $3.75 per gallon. The number is an 8-cent increase from the previous week alone.
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The price of gasoline is set to increase to $4 per gallon or more within five months, according to an industry analysis released Tuesday.
The gas price surge is forecasted to take place by Memorial Day in late May, according to the report from GasBuddy, an app that tracks pump prices, and shared with CNN. But the analysis said the average cost of gasoline at pumps nationwide would then fall throughout the summer and fall of 2022, declining below current prices.
“We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon,” Patrick De Haan, the director of petroleum analysis at GasBuddy, told CNN.
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The Virginia Department of Transportation (VDOT) is encouraging holiday drivers to take it slow, and its using creative messaging to get its point across.
“Visiting In-Laws? Slow Down. Get There Late.” an electronic sign on a Virginia highway says.
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Oil prices hit a 7-year high this week as American oil and gas companies continue to fight the Biden administration over policies restricting production.
As the economy began to reopen this year and the demand for fuel increased, President Joe Biden, through executive order, halted and restricted oil and gas leases on federal lands, stopped construction of the Keystone Pipeline, and redirected U.S. policy to import more oil from Organization of the Petroleum Exporting Countries and Russia (OPEC+) instead of bolstering American oil and gas exploration and production.
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Independence Day 2020 was a lackluster affair for many, made all the sadder by attempts to celebrate July 4 amid pandemic-induced isolation without the parades, public firework shows and other communal and family gatherings that traditionally accompany the summer holiday.
The city of Miami and others staged “virtual fireworks displays” and at least 60 Florida communities made attempts to stage public events, including socially distanced parades, but with about 80% of traditional observations canceled, July 4, 2020, was nothing to celebrate.
Not so for July 4, 2021.
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Gov. Brian P. Kemp this week announced Georgia has again secured the highest ratings of AAA with a stable outlook from each of the three main credit rating agencies: FitchRatings, Moody’s Investors Service, and S&P Global Ratings. This, according to a press release that members of Kemp’s staff published on his website.
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A major pipeline used to deliver gasoline to the eastern U.S. has been shutdown by hackers, leading to higher gas prices and decreased availability in some areas of Virginia. The Colonial Pipeline was targeted by a ransomware cyber attack on Friday, and the company took some systems offline in response, leading to the pipeline shutdown.
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Tennessee residents are paying higher prices for gas, but not as much as residents in other states. This, according to AAA spokeswoman Megan Cooper, who told The Tennessee Star in an email Friday that the Volunteer State is currently the ninth least expensive market for gasoline in the nation.
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Gas prices are falling all over the country as oil prices tumble, yet prices are still relatively high in California, where environmental polices are restricting how oil refineries can produce gasoline.
The price of a gallon of gas has plummeted in Ohio to around $1 in part because Americans are self-isolating to avoid spreading the novel coronavirus. The average price dropped 35.1 cents over the past month, according to data from the AAA and Oil Price Information Service.
A BP station in Kentucky, for instance, posted a price below $1 a gallon, The Washington Post reported Thursday. Four other stations in Oklahoma City followed suit, along with another in Paris, Tennessee. The national average for gas on Thursday was $2.03, down from $2.41 at the beginning of March.
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