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NEW YORK, May 12 (Reuters) – U.S. crude oil inventories fell for a fourth straight week last week, while distillate inventories also declined. Motor gasoline stocks, however, rose, according to market sources citing American Petroleum Institute data released on Tuesday. Crude stocks fell by 2.2 million barrels in the week ended May 8, the sources …
Trump is seeking to suspend the federal 18.4 cents U.S. a gallon tax on gasoline By Will Kubzansky A federal gasoline tax holiday as proposed by U.S. President Donald Trump would result in billions of dollars in lost tax revenue each month, independent budget analysts say. Trump told reporters at the White House on Monday …
Trump’s Gas Tax Holiday Would Cost US$3.5 Billion a Month Read More »
By Nandita Bose and Timothy Gardner Gas prices surge on Iran war, creating political risk for Trump and Republicans before midterms Gas tax suspension requires congressional approval, with Senator Hawley introducing supporting legislation Senator Mark Kelly, other Democrats, previously proposed waiver until October WASHINGTON, May 11 (Reuters) – President Donald Trump said on Monday he …
Trump Backs Reducing Federal Gasoline Tax ‘Till it’s Appropriate’ Read More »
(Reuters) – Major U.S. passenger airlines spent just over $5 billion on jet fuel in March, up $1.8 billion or 56% from what they spent in February, the U.S. Transportation Department said on Wednesday. The cost per gallon of fuel in March was $3.13, up 74 cents, and 31% over February. Fuel use rose 20% …
US Says Airline Jet Fuel Costs Jumped $1.8 Billion or 56% in March Read More »
Summary Strait of Hormuz disruptions, refinery issues dent fuel supply Analysts warn prices could rise further if war persists Morgan Stanley: US gasoline inventories falling faster than usual despite high prices (Reuters) – The U.S. national average retail price of gasoline surpassed $4.50 a gallon on Tuesday for the first time since July 2022, data …
US Gasoline Prices Top $4.50 a Gallon as Summer Driving Season Nears Read More »
Summary Companies Iran conflict disrupts global oil flows, tightening California supply and raising prices Reliance on Asian imports and refinery closures worsen California’s fuel shortages Rising gas prices spark political debate ahead of state and national elections California fuel stockpiles hit record lows, imports dropped sharply in April, Kpler data shows CARLSBAD, California, April 30 …
Californians Now Paying 6 Bucks a Gallon for Kicks on Route 66 Read More »
(Reuters) – U.S. drivers can expect another spike in gasoline prices in the coming days, just as the summer driving season gets underway, as the conflict in Iran drives oil prices higher and pushes countries around the world to call on American energy supplies. Gasoline demand typically peaks in the summer as many Americans embark …
Gasoline Stocks Plummet, Prices Climb with Peak Demand Season Around the Corner Read More »
(Reuters) – U.S. President Donald Trump on Monday dismissed his top energy official’s view that gas prices will not drop until 2027, saying Americans can expect lower costs as soon as the Iran war ends. On Sunday, U.S. Energy Secretary Chris Wright told CNN that while gasoline below $3 a gallon “could happen later this year, that …
Trump Says Energy Chief is ‘Wrong,’ Expects Lower Gas Prices as Soon as Iran War Ends Read More »
(Reuters) – President Donald Trump invoked the Defense Production Act on Monday to sign a series of energy-related presidential memorandums, the White House announced, as his administration aims to tackle rising fuel prices as a result of U.S. and Israel’s war on Iran. Trump signed memorandums on coal supply chains, domestic petroleum production, natural gas …
Trump Cites Defense Production Act to Sign Energy-Related Memorandums Read More »
AMSTERDAM, April 20 (Reuters) – The Dutch government on Monday estimated that the European Union could supply enough kerosene to the EU’s economy to last about five months, drawing on domestic production and strategic reserves. European airlines have warned of potential jet fuel shortages within weeks as a result of the Iran war. The Dutch …
EU Has Reserves, Production for Five-Months Supply of Jet Fuel, Dutch Government Says Read More »
