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WASHINGTON, D.C. (NPR) — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep… Read More
WASHINGTON, D.C. (NPR) — With gasoline prices topping $4 a gallon, many drivers are looking for a car that will go farther on a gallon of gas, or maybe one that doesn’t use gasoline at all. Finding such a car, though, is not easy. Electric cars and gas-electric hybrids are in short supply, and prices… Read More
WASHINGTON, D.C. (NPR) — Global crude oil prices have been on the rise following Russia’s invasion of Ukraine, with U.S. gas prices hitting a new national record on Tuesday. As NPR’s Camila Domonoske reported: “The average cost of a gallon of regular fuel is now $4.173, according to AAA, after jumping 55 cents in the… Read More
Updated March 8, 2022 at 12:28 PM ET WASHINGTON, D.C. (NPR) — President Biden on Tuesday announced a ban on U.S. imports of Russian oil and gas — the latest move to try to punish Moscow for invading Ukraine. “The United States is targeting the main artery of Russia’s economy,” Biden said. “That means Russian… Read More
Updated November 23, 2021 at 3:35 PM ET WASHINGTON, D.C. (NPR) — The United States plans to draw 50 million barrels of oil from its emergency oil reserves in coming months, a widely anticipated step aimed at trying to take the edge off high gas prices that have been hurting consumers at the pump —… Read More
WASHINGTON, D.C. (NewsHour) — Gasoline prices are on the rise, along with the cost of home-heating oil and natural gas. But international energy officials at the Russian Energy Week event on Thursday warned of a global energy crunch that could slow the economic recovery from the pandemic. NewsHour’s Nick Schifrin has more.
Gasoline prices have been dropping steadily for months; they’re averaging right around $2.25 per gallon nationally. Enjoy, but don’t get used to them, analysts say.