Biden to release up to 15 million barrels of oil from strategic reserve
President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations.
President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations.
US emergency oil supply shrinks to 40-year low
Proponents of releasing barrels from the emergency stockpile say it increases oil supplies and reduces prices at the pump. Critics say it's a short-term fix.
Proponents of releasing barrels from the emergency stockpile say it increases oil supplies and reduces prices at the pump. Critics say it's a short-term fix.
OPEC+ approves sharp cut in oil output; gas prices could rise
OPEC+ said the decision was based on the “uncertainty that surrounds the global economic and oil market outlooks.”
OPEC+ said the decision was based on the “uncertainty that surrounds the global economic and oil market outlooks.”
Arizona gas prices: AAA says demand, tight supplies and unplanned maintenance are causing surge
According to AAA, an increase in demand, tight supplies, and fluctuating oil prices are behind the recent spike in gas prices nationwide.
According to AAA, an increase in demand, tight supplies, and fluctuating oil prices are behind the recent spike in gas prices nationwide.
Biden warns oil industry not to 'gouge the American people' as Ian hits Florida
Biden said the hurricane “provides no excuse for price increases at the pump."
Biden said the hurricane “provides no excuse for price increases at the pump."
Inflation falls for 2nd consecutive month on lower gas prices
Inflation has driven up the costs of families’ grocery bills, rents, and utility costs, placing hardships on households and increasing gloom about the economy despite job growth and low unemployment.
Inflation has driven up the costs of families’ grocery bills, rents, and utility costs, placing hardships on households and increasing gloom about the economy despite job growth and low unemployment.
Then vs. now: What the world was like when Queen Elizabeth II was coronated in 1953
The world has changed in unimaginable ways since Queen Elizabeth II was crowned in 1953.
The world has changed in unimaginable ways since Queen Elizabeth II was crowned in 1953.
OPEC, allies cutting world oil supplies as prices fall
The move signals their unhappiness with crude oil prices that have dropped because of recession fears.
The move signals their unhappiness with crude oil prices that have dropped because of recession fears.
How to save 40 cents a gallon at Circle K gas stations on Sept. 1
Circle K Fuel Day is set to take place at over 3,600 locations nationwide, including in Arizona.
Circle K Fuel Day is set to take place at over 3,600 locations nationwide, including in Arizona.
Average US gasoline price falls 45 cents to $4.10 per gallon
The average U.S. price of regular-grade gasoline plummeted 45 cents over the past three weeks to $4.10 per gallon.
The average U.S. price of regular-grade gasoline plummeted 45 cents over the past three weeks to $4.10 per gallon.
Gas drops below $4 a gallon average for first time since March, one analysis shows
GasBuddy says gas prices are dropping after hitting a record high in June.
GasBuddy says gas prices are dropping after hitting a record high in June.
Gas prices coming down but inflation will likely stay high
Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months.
Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months.
OPEC, allies agree to boost oil production by slower pace than previous months
As a result, experts said the amount of oil on the market might not keep up with demand, so high oil prices may persist for some time.
As a result, experts said the amount of oil on the market might not keep up with demand, so high oil prices may persist for some time.
Average US gasoline price falls 32 cents to $4.54 per gallon
The average U.S. price of regular-grade gasoline has plunged more than 30 cents in the last two weeks.
The average U.S. price of regular-grade gasoline has plunged more than 30 cents in the last two weeks.
US inflation reached 9.1% in June, a new 40-year high
U.S. consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981.
U.S. consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981.
Gas prices: Phoenix station selling fuel for $3.99 per gallon
The owners of CK Food Mart are selling gas for $3.99 per gallon in Phoenix. “We don’t care about the money right now. People need help right now.”
The owners of CK Food Mart are selling gas for $3.99 per gallon in Phoenix. “We don’t care about the money right now. People need help right now.”
'It's worth it': Georgia gas station loses nearly $12K selling discounted gas
The Georgia gas station dropped the price to less than $2 a gallon for customers on the Fourth of July. The owner says he lost nearly $12,000 in just three hours, but it was worth it to see the smiles on his customers' faces.
The Georgia gas station dropped the price to less than $2 a gallon for customers on the Fourth of July. The owner says he lost nearly $12,000 in just three hours, but it was worth it to see the smiles on his customers' faces.
Falling gas prices welcome news for Fourth of July travelers looking to avoid airport delays
Flight delays and cancellations may push more people to drive for the Independence Day holiday.
Flight delays and cancellations may push more people to drive for the Independence Day holiday.
Arizona business moves closer to clients to avoid increasing gas prices
How far would you be willing to go to save on gas money? What would you change in your life? One couple decided to move, and it?s already saved them hundreds of dollars. FOX 10's Steve Nielsen has the story.
How far would you be willing to go to save on gas money? What would you change in your life? One couple decided to move, and it?s already saved them hundreds of dollars. FOX 10's Steve Nielsen has the story.
Gas Tax holiday: What you should know as calls continue for relief amid high inflation
As discussions continue over President Joe Biden's proposal for a federal gas tax holiday that he claims can provide relief for drivers, here's what you should know about the gas tax, what it's used for, and why some say a gas tax holiday might not work.
As discussions continue over President Joe Biden's proposal for a federal gas tax holiday that he claims can provide relief for drivers, here's what you should know about the gas tax, what it's used for, and why some say a gas tax holiday might not work.