The average price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon, according to the Lundberg Survey, which comes as some analysts predict prices will climb above $6 a gallon by the end of the summer.
Democrats have regained a majority at the Federal Trade Commission, enabling Chairwoman Lina Khan to advance an aggressive and liberal anti-monopoly and consumer protection agenda focusing on Big Tech and major oil companies.
The cost of gasoline at petrol stations across the United States hit a new all-time record on Friday, according to the American Automobile Association (AAA).
The U.S. trade deficit rose an astonishing 22 percent in March to $109.8 billion as prices of oil and imported products rose due to soaring inflation, according to data released Friday by the Census Bureau and the Bureau of Economic Analysis.
The United States added just one oil rig this week amid renewed pressure from climate change activists on investors to deny capital to fossil fuel producers.
U.S. stocks edged lower on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020.
President Biden will release a record 1 million barrels of oil per day from the Strategic Petroleum Reserve in a bid to contain soaring energy prices...
