gasprices

Oil Hovers Around 8-Month Lows Near $80

Oil prices hovered around 8-month lows near $80 a barrel Thursday after the U.S. central bank balked at implementing vigorous stimulus measures to boost waning economic growth and U.S. crude stockpiles rose unexpectedly.

40 Miles Per Gallon Isn't All It's Cracked Up to Be

Fuel efficiency is on the mind of a lot of car shoppers these days, and automakers have responded with more vehicles that get 40 miles per gallon -- or better. But that great mileage may not be a great deal for your wallet.

Farmers Hit the Jackpot in Kansas Oil Boom

Farmers in Kansas are hitting the jackpot. But instead of holding the winning lottery numbers, it's all about owning the right piece of land -- land with oil beneath it.

U.S. Gasoline Prices Are Now Cheaper Than a Year Ago

After dropping for most of the month, gas prices are now lower in much of the U.S. than they were a year ago, possibly part of a larger decline in that could lift consumer confidence ahead of the summer driving season.

Obama Seeks to Confront Oil Market Manipulation

Under pressure to take action on rising gasoline prices, President Barack Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.

US Inflation Mild as Gas Prices Rise More Slowly

Gas prices rose more slowly in March, keeping overall U.S. inflation mild. The consumer price index rose 0.3 percent in March, the Labor Department said Friday. That's slower than February's 0.4 percent rise.

US Retail Sales Rose 1.1% in February

Americans stepped up spending on retail goods in February, evidence that a stronger job market is boosting the economy. Consumers bought more autos, clothes and appliances. They also paid higher prices for gas. Retail sales increased 1.1 percent last month, the Commerce Department said Tuesday. It was the biggest gain since September.

What Today's Booming Auto Sales Mean for Car Shoppers

U.S. car sales just hit their highest level in four years, and that's good news for economy watchers. Falling unemployment, more cooperative lenders, and rising consumer confidence all contributed to the boom. So if you're looking to buy, what does this all mean for you?

Gasoline Prices Rise for 24th Day

Gasoline prices climbed Friday for the 24th straight day as service stations pass along the rising cost of oil. The national average for gasoline hit $3.741 per gallon, according to AAA, Wright Express and Oil Price Information Service. That's an increase of 46.5 cents per gallon since the start of 2012. Gasoline has never been so high this time of year, and analysts say it could reach a record of $4.25 per gallon by late April.

Better Inflation Gauge Shows Why Inflation's Much Worse

One of the biggest threats to your financial health is inflation, which destroys the value of your money. Now, according to the Consumer Price Index, inflation is fairly tame. But if that doesn't reflect your economic reality, the people who created the Everyday Price Index think they know why.

5 Offbeat Ideas for Saving on Gas From Our Readers

Gas prices are going up again, and it feels a lot like Groundhog Day: Same old problem, and media outlets are dispensing the same old advice. Not us! Here are the most interesting and innovative ideas our readers offered for reducing your pain at the pump.

Consumer Prices Up as Gas, Clothing Costs Rise

Consumer prices rose modestly in January on higher costs for food, gas, rent and clothing. But economists downplayed the increase, saying inflation will likely ease in the coming months as prices for raw materials level off. The consumer price index increased 0.2 percent last month, after a flat reading in December, the Labor Department said Friday.

5 Reasons We'll See $4 Gas by Memorial Day

Gas prices dropped at a pretty good clip in the latter half of 2011 -- down around 20% to about $3.25. Hope you enjoyed it while it lasted, because gas is back on the rise. It's near $3.50 now, and the key trends all signal that it'll keep going higher.

7 Ways Inflation Will Hit Americans in 2012

With the economy still trying to muster a recovery, and unemployment still around 8.5%, any price increases are painful. And just a month into 2012, a spate of headlines points to more hurt ahead. Here are seven ways inflation will be digging into your wallet this year:

Why Carnival Will Never Be Great Again

It's now been two weeks since the Costa Concordia accident off the Tuscan coast of Italy. That tragic event aside, cruising is still a remarkably safe vacation choice. What's probably not as safe is investing in Costa's parent Carnival.

Why Gas Could Hit $5 a Gallon This Summer

If you think you're paying a lot at the gas pump now, just wait until summer hits. Stronger demand could lead to record gas prices as an economic recovery takes hold and turmoil in the Middle East sends the price of oil upward. How high? $5 a gallon isn't out of the realm of the possible.

Corvette Autumn: Will the Next New Vette Be the Last?

Last week, the auto paparazzi brought us pictures of the prototype 2013 Corvette, which will apparently reprise the classic Vette formula. But in an era of high gas prices and tightening environmental regulations, how much longer can GM's horsepower party last?

Why BP Will Never Be Great Again

BP has big problems, and not just because of the Gulf of Mexico oil spill and the $20 billion compensation fund it set up to pay the victims. The petro-giant has been missing Wall Street's profit targets lately, thanks to sloppy operations and a general trend toward lower gasoline consumption.

How the (Finally Ended) Corn Ethanol Subsidy Made Us Fat

America's food chain has lately produced a bumper crop of scary news, but the worst food-related threat to our health was being caused by U.S. energy policy: Here's how the corn ethanol subsidy was making us fatter, and why to be glad that Congress finally killed it.

2011 in Business: 7 Stories That Affected You Most

Between debt ceiling debates, the crisis in the eurozone, and battles over tax rates, money issues filled the front pages in 2011. Here are our picks for the seven stories that most directly affected your wallet.

Consumer Prices Were Unchanged in November

Consumer prices stayed flat in November, further evidence that inflation has cooled off. Energy costs dropped for the second straight month, which offset higher prices that Americans paid for food, clothes and medical services. The consumer price index was unchanged in November, the Labor Department said Friday. That followed a 0.1 percent decrease in October.

Oil Falls Below $93 Amid Slowing Global Economy

Oil prices fell below $93 a barrel Monday in Asia as investors mulled whether slowing global economic growth justified a surge in crude this month. Benchmark crude for December delivery was down 79 cents at $92.53 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 64 cents to settle at $93.32 in New York on Friday.

What Gadhafi's Death Means for Gas Prices

Oil prices fell in the wake of last week's death of Col. Moammar Gadhafi. But it was a small dip, and it didn't last for long. Still, while the Libyan dictator's death may not lead to lower gas prices for U.S. drivers in the short term, down the road improved world crude supplies should stabilize prices. That in turn would lead to fewer surprises at the gas pump.

Food and Gas Cost More in September

Consumers paid more for food and gas last month, although inflation outside those volatile categories was tame. The Labor Department says the Consumer Price Index rose 0.3% in September, below August's 0.4% rise. Excluding food and energy, so-called core prices increased 0.1%, the smallest rise since March.

Falling Gas Prices Are an Early Holiday Gift for Retailers

Gas prices have finally begun to reflect the falling price of oil, which dipped from nearly $100 a barrel in July to less than $78 now. A gallon of regular averaged $3.408 Tuesday, down from $3.662 a month ago. That's excellent news for the nation's retailers as we approach the holiday shopping season.

The Upside of Economic Worries: Lower Gas Prices

For the first time in months, retail gasoline prices have fallen below $3 a gallon in places, including parts of Michigan, Missouri and Texas. And the relief is likely to spread thanks to a sharp decline in crude oil prices.

Why Gas Prices Haven't Fallen Yet

The smart money has been predicting lately that gas prices would fall. Oil has been below $90 a barrel since early August and the International Energy Agency has cut its estimates for crude oil use for the year. But the price of a gallon of unleaded is the virtually the same as it was a year ago.