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Gas prices

One more thing to give thanks for: lower gas prices

by Elizabeth Trovall
Nov 29, 2024
A sluggish crude oil market, moderate global demand and healthy U.S. refining capacity have combined to drive down fuel costs
Gas prices tend to fall in the winter because gasoline blends need less refining in cold weather.
Andrew Harnik/Getty Images
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"Make Me Smart” Newsletter

Is the shoplifting "crisis" over?

by Ellen Rolfes and Katie Reuther
Sep 20, 2024
Plus, we'll look at the how gas prices can affect elections and do the numbers on the new COVID vaccine in this week's newsletter.
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Summer gasoline demand is down, despite lower prices

by Elizabeth Trovall
Jun 20, 2024
With more efficient vehicles and fewer commuters, less gas is being consumed. But prices are still high for other aspects of summer travel.
Vehicles have generally become more energy-efficient, and there are fewer commuters on the road. Those factors may be keeping a lid on gasoline prices as travel season ramps up.
Scott Olson/Getty Images
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OPEC+ will extend supply cuts — but that doesn't appear to be raising prices

by Mitchell Hartman
Jun 4, 2024
The petroleum-producing cartel is trying to push global oil prices higher, but Americans aren't seeing an increase at the gas pump.
Gas prices in the U.S. have actually fallen 13 cents in the past month, according to AAA.
Joe Raedle/Getty Images
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What goes into OPEC's decision-making?

by Nancy Marshall-Genzer
May 31, 2024
The cartel wants to manipulate production to push up prices and demand.
“Price is always in the background as part of the discussion,” says Mark Finley at Rice University’s Baker Institute.
Thomas Kronsteiner/Getty Images
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The U.S. exports more petroleum than it imports. So why are we importing at all?

by Caleigh Wells
May 13, 2024
It's largely about the chemistry of the oil and the mechanics of the refineries. In many cases, importing foreign crude is cheaper.
An oil pumpjack in Texas. Importing foreign crude oil is often cheaper for the United States.
Brandon Bell/Getty Images
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The higher price of oil is helping tank the price of natural gas

by Elizabeth Trovall
Apr 11, 2024
Stay with us here — think about chicken parts. Higher demand for white breast meat means an excess of chicken legs.
Crude oil is easier to get out of the isolated Permian Basin than natural gas, which needs pipelines to reach customers, says Ed Hirs with the University of Houston.
Brandon Bell/Getty Images
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Gas prices inch down as outlook appears stable

by Kristin Schwab
Jan 8, 2024
Gas is close to the $3 per gallon mark and has broken that in parts of the South.
In some parts of the South, gas prices are already below $3 a gallon. Above, a Chevron gas station in Austin, Texas.
Brandon Bell/Getty Images
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Why gas prices are trending downward

by Mitchell Hartman
Dec 14, 2023
Several factors are keeping prices at the pump low — including the greater number of EVs and hybrids on the road.
Gas inflation is down nearly 9% year-over-year. 
Brandon Bell/Getty Images
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OPEC+ members say they'll cut oil production. Global markets don't seem to believe them.

by Mitchell Hartman
Nov 30, 2023
Production cuts may no longer be as effective at propping up prices because electric vehicles are cutting into global demand.
OPEC+ members are promising a pullback of as much as 2 million barrels a day, at least half of that from the Saudis.
Joe Klamar/AFP via Getty Images
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