Inflation rose by 3.3% in March compared to one year ago, the Labor Department reported Friday, the highest such increase since May 2024. That rise was driven by a 21% spike in gas prices in March from the previous month. Jo Ling Kent has details. Source link
For years, California leaders accused oil companies of price gouging. Instead, a six-month-long CBS News California investigation revealed a complicated reality shaped by state policies, refinery closures, and global supply risks that uniquely impact California’s isolated fuel market. What CBS News California Investigates found: Why California gas costs more: Higher taxes, labor and business costs, … Read more
THERMAL, Calif. — A desert community in southwestern Arizona reached 110 degrees (43.3 C) on Thursday, breaking a record for the highest March temperature recorded in the United States. The record-setting temperature was recorded just outside Martinez Lake, Arizona, in the Yuma Desert, as a winter heat wave scorched the Southwest, according to the National … Read more
The price of oil continued to surge on Friday amid growing concerns that the Iran war will disrupt global crude supplies. West Texas Intermediate (WTI), the U.S. oil benchmark, rose 6.8% to $86.57 per barrel on Friday morning, according to data from Factset. Brent crude, the international benchmark, jumped 4.7% to $89.44. Both were trading near their highest … Read more