gas

Sky-high oil and gas prices risk tipping the U.S. economy back into recession. But Washington isn't powerless when it comes to oil prices: Here are five things that the federal and state governments can do that would quickly reduce pain at the pump.

As the crisis in Libya continues to shake world oil markets, many voices are calling for President Obama to tap into the Strategic Petroleum Reserve. With gasoline prices up 33 cents a gallon in the last month, that's a tempting idea. It's also the wrong one.

Oil prices fell below $97 per barrel Monday -- from more than $100 a few days ago -- on reports that Libya's still exporting oil. But gasoline prices continued to rise, jumping 8 cents over the weekend.

The U.S. started 2011 with the highest gas prices ever for January. That doesn't bode well for the coming months, but the sky isn't falling. Here's what you can do about those higher fuel costs, including how to make investments that will profit from them.

Oil prices on Tuesday reached the $91-a-barrel mark in light trading as strong demand and limited supply continues to push up prices towards the end of the year.

It may be the happiest season of the year, but higher crude oil prices that have translated into higher gasoline prices have many motorists frowning. The weak U.S. dollar and expectations of a more robust economic recovery in the coming year have helped push oil to over $90 a barrel.

Lower U.S. petroleum inventory and higher demand pushed oil prices past the $90-a-barrel mark Wednesday. Gasoline prices remain near $3 per gallon as a result.

Exxon Mobil Corp. (XOM) sold nine U.S. Gulf of Mexico oil and natural gas stakes to Energy XXI in a deal worth $1.01 billion. The assets produce about 20,000 net barrels of oil a day, The Wall Street Journal said. They contain net proved and probable reserves of 66 million barrels of oil...

Chevron Corp. (CVX) reported earnings of $1.87 for the quarter, down from $1.92 a year earlier. The 2009 results were boosted by upstream asset sales and discrete tax items. Sales and other operating revenues were $48 billion in the third quarter of 2010, compared with $45 billion a year...