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.
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.
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.
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.
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.