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In June 2021, the national average price for a gallon of gas was $3.09, according to data from AAA, but as of June 2022, it had topped $5. That marks a gain of over 60% in a single year.
More good news is coming to inflation-weary drivers: Gas prices are expected to drop in 2025 for the third straight year, according to GasBuddy projections shared exclusively with CNN.
US shale producers would lose market share if Trump's policies slash gas prices, Bob McNally said. "You cannot have $1.50 pump prices and a thriving shale oil sector. Period." A deep recession ...
The Unknown Switch That You Should Change Twice A Year On Your Ceiling Fan. According to the U.S. Energy Information Administration, about 60% of homes use natural gas for space or water heating ...
Trump said that on his first day in office, he would place 25 percent tariffs on all Canadian and Mexican goods. The two countries are the leading sources of U.S. oil imports.
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
Natural gas prices in the Permian Basin, West Texas, went below zero more than once in 2019. Natural gas is produced there as a byproduct of oil production, but production has increased faster than the construction of pipelines to transport natural gas. Oil production in the Permian Basin is profitable, so the natural gas continues to be ...
It’s a politicized country, so every problem must have a political origin. And if you’re the U.S. president when gasoline prices soar above $4 per gallon, you’ve got some explaining to do.