Gas Prices | featured news

In another sign that higher gas prices are squeezing consumers, the government's monthly measure of inflation rose in February at the strongest pace since last April.

In what has become a weekly ritual, President Obama on Thursday defended his administration’s energy policy, in the face of relentlessly rising gasoline prices, to an American public that believes he can do more to ease the pain at the pump.

Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices derailing economic growth in a U.S. election year.

Higher gas costs drove U.S. wholesale prices up last month. But excluding the big jump in gas, inflation was mostly tame.

The United States is pressing Saudi Arabia to boost oil output to fill a likely supply gap arising from sanctions on Iran, Gulf oil officials said, adding that an increase in production is unlikely to be needed before July.

Retail sales recorded their largest gain in five months in February as Americans snapped up motor vehicles and bought a range of goods even as they paid more for gasoline, government data showed on Tuesday.

Against the backdrop of gasoline prices rising at the pump in an election year, a new Obama administration report cites “significant progress” in reducing foreign oil imports and increasing domestic oil and gas production.

Following GOP strategy, Fox News is again blaming the Obama Administration for rising gas prices -- a claim that has been repeatedly debunked by energy analysts. But back in the summer of 2008 when the average U.S. gasoline price hit a record high of $4.11, Fox said that "no President has the power to increase or to lower gas prices" and the only way to reduce our vulnerability to gas price spikes is to use less oil.

Facing intensifying election-year attacks over rising energy prices, President Barack Obama will seek on Thursday to shift the spotlight onto oil and gas companies by calling for the repeal of tax breaks that benefit the industry.

As gasoline prices rise at the pump, so apparently does the brazenness of some thieves trying to steal it.