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News Articles: gasoline prices

A man stops to fill up his car at a gas station in Washington, D.C., in November. Gas prices have fallen this spring, despite the fact that they typically rise this time of year, largely because of lower oil prices. That saves drivers money and also brings down the costs of goods.

Tagged as: 

  • Business

Why oil prices are falling, and what it means for the economy

Between tariffs roiling the global economy and OPEC putting more barrels on the market, prices have dropped significantly since January. That's good for consumers, and bad for oil companies.

May 06, 2025
|
By:
  • Camila Domonoske
Gas is pumped into a vehicle at a gas station in Miami on Jan. 23, 2023. A rise in gas prices caused inflation to increase in January when compared to December. Gas prices remain volatile, making the outlook for inflation more uncertain.

Tagged as: 

  • Economy

Inflation eased again in January – but there's a cautionary sign

Annual inflation cooled in January for the seventh month in a row. But price increases accelerated between December and January, fueled by rising shelter, food and gasoline prices.

February 14, 2023
|
By:
  • Scott Horsley
Kevin Soyt, Robert Hamilton and Dave Bayer participate in a water aerobics class in the John Knox Village Continuing Care Retirement Community pool on Oct. 15, 2021 in Pompano Beach, Fla. The Social Security Administration announced the largest cost-of-living adjustment in decades: 8.7%.

Tagged as: 

  • Economy

High inflation leads to the biggest raise in Social Security in more than 40 years

Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.

October 13, 2022
|
By:
  • Scott Horsley
Vehicles drive past a sign on the 110 Freeway warning of extreme heat and urging energy conservation during a heat wave in downtown Los Angeles on Sept. 2. Soaring electricity bills are pinching many household budgets across the country even as gasoline prices have come down.

Tagged as: 

  • Economy

Soaring electricity bills are the latest inflation flashpoint

Inflation eased slightly in August thanks to falling gasoline prices, but the cost of many essentials continues to climb, including soaring power bills that are straining family budgets.

September 13, 2022
|
By:
  • Scott Horsley
A driver pumps gas at a Gulf gas station in Lynnfield, Mass., on July 19. Gasoline prices are dropping, which is helping bring down inflation. But the cost of many other things are still climbing.

Tagged as: 

  • Economy

Inflation is cooling thanks to gas prices, but many things still cost a lot more

Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.

August 10, 2022
|
By:
  • Scott Horsley
Gas prices are displayed on a sign at a gas station in Williams, Ariz., on Wednesday, July 6, 2022.

Tagged as: 

  • Economy

No retreat in the summer heat. Prices likely topped 40 year high last month

Forecasters say inflation likely hit a new, four-decade high last month, fueled in part by record high gasoline prices. Gas prices have since fallen, but overall inflation is still elevated.

July 13, 2022
|
By:
  • Scott Horsley
A gas pump is seen in a station on Feb. 1 in Houston. Gasoline prices hit a new national record, not adjusted for inflation, surpassing the previous peak set around two months ago.

Tagged as: 

  • Business

Gasoline prices hit a record high, again

Gas prices surged to a national record, not adjusted for inflation, surpassing the previous milestone hit around two months ago. It comes just ahead of the key summer driving season.

May 10, 2022
|
By:
  • Brittany Cronin
A shopper walks through a grocery store in Washington, D.C, on March 13. Surging inflation poses a particular challenge for working-class families, impacting the cost of basic necessities such as groceries.

Tagged as: 

  • Economy

How soaring inflation forces stark choices

Inflation in March was the highest since December of 1981, with prices up 8.5% from a year ago. Rising prices are especially hard on low-income people, who spend more of their money on necessities.

April 12, 2022
|
By:
  • Scott Horsley
Gas prices have hit a record high, not adjusted for inflation, which has sparked increased demand for electric cars, hybrids and smaller gasoline-powered vehicles. But shoppers may not find much to choose from.

Tagged as: 

  • Business

Gas prices got you wanting an electric or hybrid car? Well, good luck finding one

Soaring gasoline prices have fueled increased demand for electric cars, hybrids and smaller gasoline-powered vehicles. But shoppers may not find much to choose from.

March 25, 2022
|
By:
  • Scott Horsley
In Los Angeles, gas cost more than $5 a gallon last week. In the rest of the country, gas is a relative bargain at just over $4 a gallon.

Tagged as: 

  • Economy

Gas prices surge to above $4 a gallon, near a national record

The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.

March 07, 2022
|
By:
  • Scott Horsley
In this May 11, 2021 file photo, a QuickTrip convenience store has bags on their pumps as the station has no gas, in Kennesaw, GA. AAA is cautioning Georgians once again to avoid panic buying gasoline in the aftermath of Hurricane Ida.

Tagged as: 

  • News

AAA Warns Georgians To Not Panic-Buy Gasoline In Aftermath Of Hurricane Ida

Hurricane Ida came ashore in Louisiana as a Category 4 hurricane, making it one of the most powerful in the region’s history. While the storm made landfall west of Georgia, it could have an impact at the gasoline pump here. 

August 31, 2021
|
By:
  • Sarah Rose
Used Challengers sit in a long line at a Dodge dealership on Jan. 24 in Littleton, Colo. Used car prices may be peaking and that could help reinforce hopes for easing inflation.

Tagged as: 

  • Economy

Inflation Is Still High. Used Car Prices Could Help Explain What Happens Next

A surge in prices of used cars was a major driver of inflation again in June, but there are some signs those price hikes may be shifting into reverse.

July 13, 2021
|
By:
  • Scott Horsley
President Biden speaks about the economy at the White House Monday. The Biden administration is arguing that higher-than-expected inflation is temporary.

Tagged as: 

  • Analysis

Inflation, Gas Shortage Highlight Peril That Could Threaten Biden's Agenda

Americans continue to say they approve of how the president is handling the coronavirus pandemic, but he may be running into speed bumps because of inflation and other issues.

May 16, 2021
|
By:
  • Domenico Montanaro

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