prices

California gas prices are the highest in the U.S., but there’s no proof of price gouging. Here’s why.

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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

Higher gas prices have cost U.S. drivers an additional $8.4 billion, Democrats say

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American drivers have paid an additional $8.4 billion in fuel costs since the Iran war started, according to a new estimate from the Joint Economic Committee’s Democratic minority.  The lawmakers’ calculation is based on daily average gasoline prices as tracked by AAA between Feb. 28, when the U.S. and Israel attacked Iran, through March 31. The … Read more

Live Updates: Oil prices rise as Trump says Iran war take 2-3 more weeks, with no plan for Strait of Hormuz

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  8m ago Oil prices surge, stocks fall as Trump offers “far less than what the market expected” Oil prices were sharply higher following Mr. Trump’s Wednesday evening remarks. Brent crude, the international standard, jumped 6.9% to $108.15 per barrel before early Thursday.  Benchmark U.S. crude rose 6.4% to $106.55 a barrel. While renewed optimism … Read more

How high could oil and gas prices go if the Strait of Hormuz remains closed?

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President Trump’s comments to reporters on Tuesday that he expects the U.S. to end its war with Iran in two or three weeks is buoying investors by easing global oil prices and boosting stocks. Yet such optimism is certain to fade quickly unless Iran agrees to reopen the Strait of Hormuz soon, according to economists, who warn that crude prices … Read more

Gas prices hit $4.06 a gallon before Trump’s prime-time address

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U.S. gasoline prices continue to inch higher, hitting $4.06 a gallon after crossing $4 on Tuesday, as the Iran war continues to drive up costs for American drivers. The average cost of a gallon of gas has jumped 36% since the war started, according to AAA. Gas climbed above $4 yesterday for the first time since August … Read more

DoorDash driver feels the squeeze as gas prices top $4 a gallon in many states

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DoorDash driver feels the squeeze as gas prices top $4 a gallon in many states – CBS News Watch CBS News Drivers in at least 13 states across the country are paying an average price of $4 a gallon or more for gas. Jason Allen spoke to a man who’s feeling the strain with his … Read more

Trump advisers fear GOP midterm losses as gas prices spike

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White House officials have privately discussed their concerns about recent internal and public polling on the economy and President Trump and have been trying to drum up new strategies to prevent GOP losses in the midterm elections, sources briefed on the conversations told CBS News.  Senior aides, including chief of staff Susie Wiles and deputy … Read more

Gas prices rise above $4 a gallon amid Iran war

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IE 11 is not supported. For an optimal experience visit our site on another browser. Demi Lovato reflects on starting as a child star 01:03 Supreme Court rules against state conversion therapy ban 00:41 Celine Dion announces return to the stage 00:43 Questions remain over possibility of troop deployment 00:32 Now Playing Gas prices rise … Read more