gas prices

Here & Now
11:15 am
Wed December 10, 2014

Beyond The Pump: What Falling Oil Prices Mean For U.S. Producers

International Air Transport Association (IATA) Chief Economist Brian Pearce speaks at the IATA global media day on December 10, 2014 in Geneva. Global airline association IATA on December 10 raised the sector's profit forecast to a record $19.9 billion for 2014 and $25 billion for 2015, as plunging oil prices drive down costs. (Fabrice Coffrini/AFP/Getty Images)

Originally published on Wed December 10, 2014 3:19 pm

Oil prices have plunged more than 40 percent since July, to a five-year low, and they continue to fall. As of Wednesday morning, crude was trading below $62 a barrel.

That’s good news for drivers, but beyond low gas prices, what does it mean for U.S. oil producers, and the economy?

Here & Now’s Jeremy Hobson talks to Juli Niemann, a financial analyst with Smith Moore and Company.

Read more
Business
4:58 pm
Mon December 8, 2014

GOP Leaders: Gas Tax Hike Could Fuel Fixes To Bad Roads And Bridges

Thomas Harden of Chicago pumps gas into his truck. He says he wouldn't support a gas tax increase.
David Schaper NPR

Originally published on Tue December 9, 2014 1:57 pm

Gasoline prices are at their lowest level in four years. The price at the pump in many states is almost a full dollar cheaper than it was last spring.

So some politicians think this is a good time to raise gasoline taxes. Several states are tired of waiting for Congress to fix the federal highway trust fund, so they're considering raising gas taxes themselves to address their crumbling roads.

Read more
The Two-Way
5:02 pm
Fri December 5, 2014

Coming Soon To A Filling Station Near You: $1.99 Gasoline

Gas prices in Oklahoma City have dipped under $2.
Joe Wertz StateImpact Oklahoma

Originally published on Fri December 5, 2014 5:50 pm

The photo above isn't from the archives. It was taken this week in Oklahoma City, where the price of regular gas has fallen under $2 a gallon. The last time that happened anywhere in the U.S. was in July 2010.

The OnCue filling station is the first in the country to drop its price below the $2/gallon threshold.

Read more
Here & Now
3:23 pm
Thu December 4, 2014

Gas Dips Below $2 In Oklahoma

Long lines formed after the OnCue gas station in Oklahoma City dropped its price to $1.99 a gallon. (@keatonfox/Twitter)

Originally published on Thu December 4, 2014 2:23 pm

Goldman Sachs estimates that Americans stand to save $75 billion from the recent drop in gasoline prices. That works out to about $1,100 a year per household.

Now, a gas station in Oklahoma City has apparently become the first in the nation to lower the price of gas below $2 a gallon since July 2010.

Yesterday, the OnCue station dropped its price from $2.11 to 1.99 for a gallon of regular gas. That prompted long lines of drivers waiting to fill up, and set off a price war with nearby competitors, who dropped their prices too.

Read more
Energy
5:29 pm
Mon December 1, 2014

Tumbling Oil Prices Give A Boost To Drivers During The Holidays

Originally published on Tue December 2, 2014 5:16 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Transcript

MELISSA BLOCK, HOST:

Read more
Economy
10:52 am
Thu October 23, 2014

You're Enjoying Low Gas Prices, But Is It Really A Good Sign?

Macy Gould shared this photo from Lexington, Ky., where the gas prices are under $3.
Macy Gould Instagram

Originally published on Thu October 23, 2014 2:40 pm

All around the country, gasoline prices have been falling for weeks, down to an average of about $3 a gallon. Those lower prices are helping restrain inflation across the board.

On Wednesday, the Labor Department said its consumer price index barely inched up 0.1 percent last month. Over the past 12 months, the CPI has risen by 1.7 percent, roughly half of its historical average rate of increase.

That sounds great for consumers.

Read more
It's All Politics
3:51 pm
Fri March 11, 2011

Obama Effort To Counter GOP On Gas Prices, Budget Overtaken By Japan

President Obama at a news conference, March 11, 2011.
Alex Wong Getty Images

President Obama's Friday news conference, which reporters were informed of the day earlier, was initially intended to give him a chance to respond to increasing Republican attacks on his energy policy.

With rising gas prices in recent weeks as the backdrop, Republicans have charged that his administration's restrictions on domestic oil production were keeping gas prices higher than they'd be otherwise.

Read more