tag | gas prices

No matter which way prices are going — and which way they go next — the cost of fuel simply doesn’t have much to do with who is in office.

The world consumes up to 100 million barrels of oil a day, so taking 1 million off the market would have a noticeable effect.

After 99 consecutive days of declining gasoline prices, the cost for a gallon has edged a penny higher.

Analysts expect prices will continue to fall in the short term, but things get a lot more complicated further out.

Refining capacity in the U.S. is about one million barrels a day below what it was prior to the COVID-19 pandemic.

The drop doesn’t signal a rapid descent to the low prices of 2021, but drivers could see modest decreases continue in the coming weeks.

Average national prices rose to $5.004 on Saturday, according to AAA

Biden suspended new leasing just a week after taking office in January 2021. A federal judge in Louisiana ordered the sales to resume, saying Interior officials had offered no “rational explanation” for canceling them.